For Bob Iger, retirement from the Mouse House apparently just means transferring to another business behemoth. The former exec just completed a landmark deal to buy the LA Lakers for a whopping $12.5 billion, which he secured through a partnership with businessman Joshua Kushner – also known as supermodel Karlie Kloss’ husband – from Thrive Capital.
The deal has now become the most expensive sale of a sports franchise in history. Iger and Kushner are acquiring the Lakers from Mark Walter, who purchased a controlling stake in the team from the Buss family for $10 billion less than a year ago. The agreement still requires approval from the NBA’s board of governors before it becomes official.
Kushner’s involvement brings its own layer of public scrutiny. The 41-year-old venture capitalist is the younger brother of Jared Kushner, Donald Trump’s son-in-law and former senior adviser. Joshua has spent years establishing a political identity separate from his family’s Trump ties. He is a lifelong Democrat, while his wife Karlie has also publicly supported Democratic causes. Even so, the Kushner name has continued to connect Joshua to the Trump family, particularly as his business profile has expanded.
That attention intensified recently after Kushner became involved in a proposed FIFA investment deal tied to the 2026 World Cup. The plan faced substantial backlash before the proposed transaction fell apart. His connection to major sports investments has now taken a much more visible turn with the Lakers purchase. Kushner previously held stakes in NBA teams and had explored an NBA expansion bid in Las Vegas with Iger before the pair pivoted toward Los Angeles.
Iger brings decades of experience at the highest levels of entertainment. He became Disney CEO in 2005 and oversaw the acquisitions of Pixar, Marvel and Lucasfilm. Disney later bought most of 21st Century Fox’s entertainment assets for $71.3 billion. His tenure also included the launch of Disney+, major theme-park expansion and a second stint as CEO after Bob Chapek’s departure in 2022.
Now Iger has entered a very different arena. Alongside Kushner, he is set to take control of the 17-time NBA champion Lakers, pending league approval, in a deal that gives the former Disney chief another major entertainment property to add to his résumé.