The Los Angeles Lakers are entering a transformative chapter as the franchise prepares for a sale valued at a record $12.5 billion. This acquisition, involving businessman Josh Kushner and former Disney CEO Robert Iger, marks the highest price ever paid for a North American sports franchise. The deal comes less than two years after the team was purchased from the Buss family by TWG Global CEO and Los Angeles Dodgers co-owner Mark Walter for $10 billion.
Josh Kushner, the incoming owner, is widely recognized for his professional career as the founder and managing partner of Thrive Capital. Launched in 2009, the firm has become a major player in the venture capital sector, providing early support to prominent technology companies including Spotify, Slack, and Instagram. Beyond his investment work, Kushner serves as vice chairman and co-founder of Oscar Health, a technology-focused insurance provider that operates primarily through the Affordable Care Act marketplace.
While his business profile is distinct, Kushner is also known for his family connections. He is the younger brother of Jared Kushner, a businessman who served as a senior advisor in the administration of President Donald Trump and is married to the former president’s daughter, Ivanka Trump. Despite being the son of prominent real estate developer Charles Kushner, Josh Kushner opted to build his career outside of the family’s traditional real estate holdings, focusing instead on the technology and healthcare sectors.
The sale of the Lakers, which was first reported by ESPN, represents a significant shift for the organization. By surpassing the previous $10 billion valuation set by Mark Walter, the transaction underscores the escalating financial scale of professional sports ownership. As the deal moves forward, the partnership between Kushner and Iger will place the iconic franchise under new leadership, concluding a brief but high-value tenure under the previous ownership group.
