Former Disney CEO Bob Iger is taking on a new project as a co-owner of the Los Angeles Lakers.

Iger and American businessman Josh Kushner reportedly bought the Lakers from Los Angeles Dodgers co-owner and TWG Global CEO Mark Walter for a record-breaking price. ESPN was the first to report the deal.

The sale has not been finalized by the NBA but is expected to be worth more than $12 billion. It would be the second time the Lakers have been sold in the past two years.

Iger is no stranger to the sports world, overseeing ESPN, which is an entity under The Walt Disney Company, while serving as Disney’s CEO from 2005 to 2020, and then again from 2022 until March of this year.

He helped launch ESPN’s new direct-to-consumer platform in 2025. The company initially launched its ESPN+ streaming service in April 2018 during Iger’s first tenure as CEO.

Iger also helped shepherd the Disney company through many of its multibillion-dollar acquisitions, from Pixar in 2006 and Marvel in 2009. He secured Lucasfilm in 2012 for more than $4 billion, sparking an ambitious relaunch of the “Star Wars” franchise across film and TV.

In recent years, Iger helped expand “Star Wars” and Marvel into the Disney theme parks, and spearheaded the opening of Disneyland in Shanghai.

Iger was the brainchild behind one of the company’s largest acquisitions, the purchase of 20th Century Fox, which includes properties such as Hulu, FX and National Geographic, in 2018 for $71 billion.

Magic Johnson addressed Lakers fans on X, speaking highly of Iger.

“Laker fans, you couldn’t have two better owners. I’ve known Bob personally for over 40 years – he has always loved the Lakers and basketball, and he will bring championships back to LA.”

The Lakers last won an NBA championship in 2020.

Johnson served as the star point guard for the Lakers during the late 1990s before later becoming the President of Basketball Operations from 2017-19.

Lakers’ current star, Luka Doncic, shared a statement regarding the news of the sale and its new owners.

“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Doncic said. “I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise. I look forward to meeting Josh and Bob so we can get to work building something special in LA together.”

How much were Lakers sold for?

The Los Angeles Lakers are being sold for a record $12.5 billion less than two years after Los Angeles Dodgers co-owner and TWG Global CEO Mark Walter bought the team from the Buss Family. The deal was first reported by ESPN.

The sale to businessman Joshua Kushner and former Disney CEO Robert Iger would mark the highest amount ever paid for a North American sports franchise, surpassing the $10 billion that Walter paid for the Lakers. — Scooby Axson

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