Home / Sports / Ex-Disney CEO Iger Buys Lakers for Record Sum
Ex-Disney CEO Iger Buys Lakers for Record Sum
13 Aug
Summary
- Bob Iger and Josh Kushner are reportedly buying the LA Lakers.
- The sale price is expected to exceed $12 billion, a new record.
- Iger previously oversaw ESPN during his tenures as Disney CEO.
Former Disney CEO Bob Iger is reportedly acquiring a stake in the Los Angeles Lakers, joining American businessman Josh Kushner as co-owners. The deal, first reported by ESPN, is expected to be finalized by the NBA and carries a record-breaking valuation exceeding $12 billion. This marks the highest price ever paid for a North American sports franchise.
Iger's extensive background in the sports industry includes his leadership of ESPN during his tenures as Disney CEO from 2005 to 2020 and again from 2022 until March of this year. He was instrumental in launching ESPN's direct-to-consumer platform and the ESPN+ streaming service. His past leadership also saw significant acquisitions like Pixar, Marvel, and Lucasfilm, expanding Disney's entertainment empire.
Magic Johnson has publicly endorsed the new ownership group, stating that Iger's lifelong passion for basketball and the Lakers will help restore championship success to Los Angeles. The Lakers' last NBA championship was in 2020. Lakers star Luka Doncic also shared his excitement about the new owners, expressing confidence in the franchise's potential under their leadership.
