When the agreement was made for Mark Walter to sell the majority ownership stake of the Lakers to businessman Josh Kushner and former Disney CEO Bob Iger at a historic valuation of $12.5 billion, there were more questions than answers.
But one thing that became apparent in the immediate aftermath of the pending sale: Iger will be the one most actively involved with the Lakers once the sale becomes official, a source told the California Post.
Iger and Kushner were interested in ownership stakes in the NBA’s potential expansion in Las Vegas.
But they recently pivoted and aggressively pursued the majority ownership stake of the Lakers from Walter, who agreed to purchase the Lakers from the Buss family last June in a deal that became official in late October 2025 for a then-record valuation of around $10 billion.
It wasn’t clear as of Wednesday morning when the sale from Walter to Iger and Kushner would become official.
The transaction has to be approved by the NBA Board of Governors. The next board meeting is scheduled for September.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” Iger and Kushner said in a joint statement.
“We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
The latest sale of the Lakers came together quickly.
Walter, who is also the majority owner of the Dodgers, isn’t selling any of his other ownership stakes as part of the deal.
Walter, the CEO of TWG Global and Guggenheim Partners, is also the controlling owner of the Sparks in addition to having financial interests in Chelsea FC, the Cadillac Formula 1 racing team, the Billie Jean Cup and the Professional Women’s Hockey League.
Thrive Eternal will be the investing vehicle used in Iger’s and Kushner’s purchase of the Lakers.
Thrive Eternal is the permanent capital holding company launched by Thrive Capital, a venture capital firm Kushner is the founder of.
The capital holding company, which is focused on owning and stewarding a small number of franchises “that we can own and steward over many decades,” according to its official website.
Thrive Eternal, which launched in April, acquired a minority ownership stake in the San Francisco Giants in the spring.
Kushner isn’t a stranger to NBA ownership, interestingly.
He became a minority owner of the Grizzlies in 2019 before selling his share to purchase a stake in the Heat in May 2025.
Kushner will have to divest his stake in the Heat to take control of the Lakers.
