Kushner’s Family Ties to $12B Deal for LA Lakers

A major ownership shift is underway for one of the NBA’s most storied franchises. Josh Kushner, the younger brother of White House adviser Jared Kushner and founder of Thrive Capital, has joined forces with former Disney CEO Bob Iger to purchase the Los Angeles Lakers in a deal valuing the team at an eye-popping $12.5 billion.

The agreement comes just 14 months after the Buss family sold controlling interest to billionaire Mark Walter in a transaction that put the franchise’s value at $10 billion. That rapid climb of $2.5 billion underscores how the Lakers remain a premium asset at the intersection of professional basketball and Hollywood glamour.

Iger and Kushner issued a joint statement expressing their excitement. “As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” they said. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

The deal still requires Thrive Capital’s final due diligence and formal approval from the NBA. Once completed, it will hand the keys to a pair of high-profile investors with deep ties to both business and entertainment.

Kushner already holds a minority stake in the Miami Heat, giving him existing experience inside the league. Iger, who stepped down as Disney’s top executive earlier this year, previously served as a venture partner at Thrive before returning to lead Disney in 2022. He later took an advisory role at the firm.

Thrive Capital has raised roughly $10 billion for new funds and has backed major companies including Instagram, Spotify, Robinhood, OpenAI and A24. That financial firepower positions the new ownership group to invest heavily in the franchise’s future.

The Lakers are entering a transitional period on the court as well. LeBron James ended his eight-season run in Los Angeles this summer and signed a two-year deal with the Philadelphia 76ers. The ownership change arrives as the team looks to redefine itself in a post-LeBron era.

Jerry Buss originally built the Lakers into a cultural phenomenon during the “Showtime” years, turning games into must-see events for Hollywood elites. That celebrity atmosphere continued at Crypto.com Arena, where stars such as Leonardo DiCaprio, Snoop Dogg, Denzel Washington and the late Jack Nicholson became familiar courtside fixtures.

Now, under Kushner and Iger, the franchise sits at a new valuation that reflects both its on-court legacy and its unmatched entertainment brand. Whether the new owners can translate that prestige into sustained championship contention remains the central question facing Lakers fans.

The massive price tag also highlights how professional sports teams have become prized assets for private equity and tech-adjacent investors seeking long-term cultural and financial returns.