Former Disney Chief Bob Iger to Co-Own Lakers in $12 Billion Deal

Former Disney CEO Bob Iger and businessman Josh Kushner are buying the Los Angeles Lakers for more than $12 billion, according to ESPN.

The Bob Iger Lakers deal represents a record-breaking price for an NBA franchise.

Here’s what’s been reported and where it leaves Iger’s remaining Disney role.

Quick Summary

• Bob Iger and Josh Kushner are buying the Lakers for more than $12 billion, per ESPN
• The sale would be the highest price ever paid for an NBA franchise
• They’re purchasing from Mark Walter, who bought controlling interest from the Buss family last year
• Iger stepped down as Disney CEO earlier this year when Josh D’Amaro took over
• Iger continues as Senior Advisor and Board member until December 31, 2026
• Full financial and structural details have not been disclosed

What ESPN Reported

Multiple sources told ESPN that Kushner and Iger will purchase the team from Mark Walter, who acquired controlling interest in the Lakers from the Buss family last year.

Kushner and Iger were previously involved in the NBA’s expansion process for a potential Las Vegas franchise, according to ESPN.

In what the outlet described as a stunning turn, the businessmen pivoted to make an aggressive offer to purchase the Lakers instead of pursuing the expansion team.

The $12 billion price tag would represent the highest sale price for an NBA franchise, surpassing previous records set by other recent team sales.

ESPN’s report indicates the deal involves multiple sources familiar with the transaction, though full financial and structural details of the purchase have not been disclosed publicly.

Iger’s Post-Disney Move

The Lakers purchase marks a significant business move for Iger following his departure as Disney CEO.

Iger led Disney for nearly two decades across two separate terms, most recently returning as CEO in 2022 before handing the role to Josh D’Amaro on March 18.

He continues as Senior Advisor and Disney Board member until his retirement on December 31, 2026.

The Timing Is Worth Noting

Iger is still on Disney’s board and still serving as Senior Advisor. His formal retirement is more than four months away.

That’s not unusual for a departing CEO — transition periods with advisory roles are standard. But it does mean this acquisition is happening while he retains a formal relationship with Disney.

There’s no obvious conflict. Disney owns ESPN, which broadcasts NBA games, and an NBA ownership stake by a sitting Disney board member is the kind of thing that gets reviewed. Whether it required any disclosure or recusal isn’t part of ESPN’s reporting.

Worth flagging that ESPN reporting on a deal involving a current Disney board member is itself an interesting position for the network, and one they navigate regularly given Disney’s sports rights portfolio.

About the Lakers

The Lakers are one of the NBA’s most valuable and storied franchises, with a history that includes numerous championships and star players throughout the team’s time in Los Angeles.

The Buss family owned the team for decades before Mark Walter acquired controlling interest last year. Walter is also a controlling owner of the Los Angeles Dodgers.

A sale roughly a year after Walter’s acquisition, at a record price, is a fast turnaround for a franchise of this profile.

Why This Matters to Disney Parks Fans

Honestly? Directly, it doesn’t.

This is a personal business transaction by a former executive. It has no bearing on Walt Disney World operations, park investment, or Disney’s strategic direction.

Josh D’Amaro is Disney’s CEO. Park capital allocation, the expansion slate, and Experiences segment strategy sit with him and with Disney Experiences Chairman Thomas Mazloum.

The indirect relevance is about Iger himself. For anyone who followed Disney closely through his two terms — the Pixar, Marvel, Lucasfilm, and Fox acquisitions, the launch of Disney+, the pandemic, the Chapek interregnum and his own return — what he does next is of genuine interest.

Buying a $12 billion basketball team is a fairly emphatic answer to what retirement looks like.

Iger’s Record at Disney

For context on the career this follows, Iger’s two terms as CEO reshaped the company more than any leader since Walt Disney himself.

The acquisitions defined it. Pixar in 2006, Marvel in 2009, Lucasfilm in 2012, and 21st Century Fox in 2019. Each was contested at the time and each is now regarded as foundational to Disney’s current position.

Disney+ launched in 2019 under his leadership, committing the company to direct-to-consumer streaming at enormous short-term cost.

On the parks side, his tenure delivered Shanghai Disney Resort, Pandora – The World of Avatar, Star Wars: Galaxy’s Edge at both domestic resorts, and the expansion slate now under construction at Walt Disney World.

He also came back. Iger returned in November 2022 after the board removed Bob Chapek, then spent three years stabilizing the company before handing off to D’Amaro in March.

Whatever your view of specific decisions, that’s an unusually consequential run — and it explains why a former media executive can credibly assemble a $12 billion sports acquisition on the way out the door.

What’s Still Unknown

• The ownership split between Iger and Kushner
• Whether other investors are involved
• The transaction structure and financing
• NBA Board of Governors approval, which any franchise sale requires
• A closing timeline

Franchise sales of this size require league approval and typically take months to complete.

The Bottom Line

The Bob Iger Lakers deal would see the former Disney CEO and Josh Kushner buy the Los Angeles Lakers from Mark Walter for more than $12 billion, a record for an NBA franchise, according to ESPN.

Iger stepped down as Disney CEO earlier this year when Josh D’Amaro took over on March 18, and remains Senior Advisor and a board member until December 31, 2026.

Full financial details haven’t been disclosed, and the deal would require NBA approval. For the complete reporting, see ESPN’s original article.

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Meet the Author: Nate Bishop

I’m a die-hard Disney fan with 38 years of visits under my belt, having stepped into Disney World 120+ times. Proud to be a Disney Annual Passholder, a Vacation Club member since ’92, a Castaway Club Member, and a runDisney enthusiast. Oh, and I’ve graduated from the Disney College of Knowledge. Need Disney insights or planning tips? I’m your guy!