Josh Kushner moves into spotlight after stunning purchase of Lakers with partner Bob Iger

Josh Kushner, a tech investor and founder of Thrive Capital, along with former Disney CEO Bob Iger, has agreed to purchase the Los Angeles Lakers for $12.5 billion, a record for a sports team sale. This acquisition marks a significant shift into the public spotlight for Kushner, who has largely avoided media attention despite his business success. The deal was reportedly finalized swiftly after the partners learned the team might be available. Kushner, whose political views differ from his brother Jared, has previously held minority stakes in other NBA teams. Iger, a longtime basketball enthusiast, partnered with Kushner after previously serving as a venture partner at Thrive Capital.

Venture capitalist Josh Kushner and former Disney CEO Bob Iger are set to purchase the Los Angeles Lakers for a record $12.5 billion, according to sources. This valuation marks a record for a North American sports franchise. Billionaire Mark Walter, who purchased a majority stake in the team last year for $10 billion, is selling the club. Iger and Kushner expressed their honor at becoming stewards of the iconic franchise and their commitment to building on the existing foundation. The deal requires approval from the NBA's board of governors and pending due diligence by Kushner's Thrive Eternal. Lakers legend Magic Johnson congratulated Iger and Kushner on the purchase.

Businessmen Josh Kushner and Bob Iger are reportedly buying the Los Angeles Lakers for a record-breaking $12.5 billion, according to an AP source. This sale of the NBA's most valuable franchise follows a trend of skyrocketing team valuations, with the Lakers previously valued at $10 billion last year when Mark Walter purchased a controlling stake. The deal, which has not been officially revealed, still requires approval from the NBA's board of governors. Kushner and Iger were previously involved in efforts to secure a Las Vegas expansion team. The Lakers, a global brand with 17 championships, are the second-most successful team in NBA history.