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Josh Kushner and former Disney chief executive Bob Iger have agreed to acquire the Los Angeles Lakers in a landmark deal reportedly worth about $12.5 billion.
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Kushner, the younger brother of Donald Trump’s son-in-law Jared Kushner, was recently linked to a controversial plan to bring private investment into FIFA’s World Cup commercial operations.
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That proposed FIFA venture was abandoned after opposition from major football stakeholders, placing Kushner at the centre of one of the biggest sports-business controversies of the summer.
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The Lakers deal comes only about a year after Mark Walter’s ownership group acquired control of the franchise from the Buss family for a valuation of roughly $10 billion.
August 12, (THEWILL) — Josh Kushner, founder of venture capital firm Thrive Capital, and former Walt Disney chief executive Bob Iger have agreed to acquire the Los Angeles Lakers in a deal that values the NBA franchise at about $12.5 billion, potentially setting a new record for the highest valuation of a sports team.
The transaction, which remains subject to approval by the NBA’s Board of Governors, would mark another major change in Lakers ownership barely a year after Mark Walter’s group took control of the franchise from the Buss family.
The proposed acquisition also places Kushner, 41, at the centre of another high-profile sports transaction just weeks after his investment firm was linked to a controversial plan involving FIFA.
From FIFA Proposal to Lakers Deal
Thrive Capital was among the investment firms reportedly considered for a proposed private investment in a new FIFA commercial entity that would have overseen some of the governing body’s commercial interests, including activities associated with the World Cup and Club World Cup.
The proposed structure was reported to have been valued at about $20 billion and would have involved private investors taking minority stakes.
The plan attracted criticism from football stakeholders and raised questions about governance, transparency and the involvement of private capital in FIFA’s commercial operations. FIFA ultimately abandoned the proposed investment structure following the backlash.
Kushner’s involvement in the proposal nevertheless highlighted his growing role in global sports finance.
His move into the Lakers deal now shifts that focus from international football to one of the most valuable and recognisable franchises in American sport.
Lakers Valuation Surges
The increase reflects the extraordinary commercial value of the Lakers, whose global following, media revenues, sponsorship portfolio and historic brand have made the team one of the most valuable assets in professional sport.
The franchise has also been associated with some of basketball’s most recognisable players, including Kareem Abdul-Jabbar, Magic Johnson, Shaquille O’Neal, Kobe Bryant and LeBron James.
Under the proposed new ownership, Kushner and Iger would inherit both the commercial opportunities and the considerable expectations associated with the Lakers brand.
The pair have indicated that they intend to build on the franchise’s existing foundation while maintaining its competitiveness, although the transaction will ultimately require approval from the NBA.
Trump family connection draws attention
He is the younger brother of Jared Kushner, who is married to Ivanka Trump and served as a senior adviser to former US President Donald Trump during his first administration.
Josh Kushner has built his career independently through Thrive Capital, which has invested in a range of technology companies. However, his family connection has attracted scrutiny, particularly given Trump’s relationship with FIFA president Gianni Infantino.
Kushner is not Trump’s son-in-law, as has sometimes been incorrectly reported. That description applies to Jared Kushner.
The FIFA proposal was ultimately abandoned, but Josh Kushner’s profile in the sports-business world has continued to rise.
Iger Adds Entertainment and Sports Experience
He led Disney for several years, overseeing an expansion that included major acquisitions and the company’s push into streaming. His career has also given him considerable experience managing globally recognised entertainment brands.
Iger already has a foothold in Los Angeles sports. In 2024, he became the controlling owner of Angel City FC, the city’s National Women’s Soccer League franchise.
His involvement with the Lakers would therefore add another major Los Angeles sports asset to his portfolio and bring together his experience in entertainment, media and sports.
For Kushner, the transaction would represent a significant expansion beyond venture capital and technology investment.
Thrive Capital has established itself as a prominent investor in the technology sector, but ownership of the Lakers would place Kushner directly within the business of professional sports and one of America’s most valuable sports markets.
A Significant Transition for the Lakers
The franchise is navigating the next phase following LeBron James’ departure after his long spell with the team, creating questions about the team’s sporting direction and its ability to maintain its position among the NBA’s elite.
Kushner and Iger would therefore take over at a time when the organisation faces both substantial commercial opportunities and significant competitive expectations.
The Lakers’ value has risen sharply despite the relatively short period since Walter’s group acquired control, underscoring the increasing financial value attached to elite sports franchises.
If approved, the transaction would make Kushner and Iger the latest custodians of one of the most influential brands in global basketball.
For Kushner in particular, the proposed acquisition represents a remarkable turn in his sports-business ambitions. His investment firm was recently associated with a multibillion-dollar FIFA commercial proposal that failed to materialise.
The Lakers deal, by contrast, could make him a direct owner of one of the world’s best-known sporting franchises and potentially establish a new benchmark for the value of an NBA team.
Segun Adeyemi serves as the Associate Editor of THEWILL Newspaper, leveraging more than ten years of editorial expertise and a proven track record in mainstream journalism.
