Two entrepreneurs agreed to acquire the most iconic franchise in the NBA for an amount that surpasses any sports sale in the United States
Kushner also has direct experience in sports. He holds a minority stake in the NBA's Miami Heat. Additionally, he is linked to the world of soccer through Thrive Eternal, a structure created to invest in cultural brands and assets.
His surname also has a particular connection to American politics: he is the younger brother of Jared Kushner, businessman and former advisor to Donald Trump, as well as husband of Ivanka Trump. However, Josh and Jared have developed independent business careers and have maintained distinct public profiles and positions.
On the other hand, Bob Iger, 75, is one of the most recognized executives in the entertainment industry. He joined Disney after an extensive career at ABC and became CEO of the company in 2005, remaining there until 2020. During his nearly two decades at the helm, he led key acquisitions such as Pixar, Marvel, Lucasfilm, and 21st Century Fox, in addition to driving the international expansion of Disney and the launch of Disney+.
After returning in late 2022, Iger stepped down again as CEO of Disney in March 2026, when Josh D'Amaro took his place. Since then, he has served as senior advisor and continues as a member of the company's board until the end of this year.
His relationship with sports is not new either: along with his wife, Willow Bay, he has a majority stake in Angel City FC, a team in the National Women's Soccer League.
Just a year after the last change in its ownership structure, the Los Angeles Lakers will change owners again. The most valuable franchise in the NBA will be acquired by Josh Kushner and Bob Iger for US$12.5 billion, in a deal that will set a new record for the sale of a sports entity in the United States if approved by the league's board of governors.
The amount far exceeds the valuation of US$10 billion that the franchise reached when Mark Walter acquired control of the Lakers from the Buss family last year. If finalized, it will also be the second sale of the team in just twelve months, an unprecedented situation for an organization accustomed to remaining under the same ownership group for decades.
This deal also explains why Kushner and Iger set aside their attempt to participate in a potential NBA expansion in Las Vegas. Both businessmen had been part of the efforts to secure a new franchise in that city, but ultimately opted to go directly for one of the most recognized and valuable teams in American sports.
The agreed price highlights the exponential growth of sports franchise values in the United States. In 2023, Michael Jordan sold his majority stake in the Charlotte Hornets at a valuation of US$3 billion, while last year the Boston Celtics set a record by being sold to mogul William "Bill" Chisholm for over US$6 billion.
Josh Kushner, 41, is an American entrepreneur and investor who founded Thrive Capital in 2010, a venture capital firm primarily focused on technology and internet companies. Through the fund, he has invested in companies like Instagram, Spotify, Stripe, and OpenAI, and currently manages a portfolio of investments valued in the billions of dollars. Forbes estimated his personal wealth at around US$5.2 billion in July 2026.
