Oceanside Native Bob Iger Agrees to Buy Lakers for Record $12.5 Billion
For longtime media executive and Oceanside native Bob Iger, the opportunity to own one of the most recognizable franchises in professional sports came together unexpectedly and at remarkable speed.
Iger, a 1969 Oceanside High School graduate, and venture capitalist Joshua Kushner have reached an agreement to purchase the Los Angeles Lakers from Mark Walter for a reported $12.5 billion. If approved by the NBA’s board of governors, the transaction would establish a new record for the highest valuation of a U.S. professional sports team.
The proposed sale comes only 14 months after Walter acquired controlling ownership of the Lakers from the Buss family for approximately $10 billion.
Iger and Kushner had initially been exploring another route into NBA ownership. The two were part of a group interested in bringing an expansion team to Las Vegas when they learned that Walter could potentially be willing to sell his Lakers stake.
The pair immediately shifted their focus toward Los Angeles and reached an agreement with Walter in just three business days.
For the 75-year-old Iger, the purchase represents the realization of a long-standing ambition to own a major professional sports franchise.
Iger spent decades at Disney, serving as CEO from 2005 to 2020 and again from 2022 until March. During his tenure, he helped oversee the company’s acquisitions of major entertainment properties including Pixar Animation Studios, Marvel Entertainment, Lucasfilm, and 21st Century Fox.
Despite his success in the entertainment industry, Iger had never previously secured ownership of a major professional sports team. In 2024, however, he and his wife, Willow Bay, purchased a controlling stake in Angel City FC of the National Women’s Soccer League. He had also explored potential ownership opportunities involving the Phoenix Suns and NFL franchises in Los Angeles.
In 2015, Iger was involved in an effort to bring the Oakland Raiders and San Diego Chargers to the Los Angeles area as part of a proposed stadium project in Carson. The NFL ultimately chose Stan Kroenke’s competing Inglewood proposal, which led to the development of SoFi Stadium.
Now, Iger is poised to take control of the Lakers, one of the most decorated franchises in NBA history. Los Angeles has won 17 championships and has featured legendary players including Jerry West, Wilt Chamberlain, Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O’Neal, LeBron James, and Luka Doncic.
Iger and Kushner described the opportunity as an honor and expressed their respect for Jerry and Jeanie Buss, who played major roles in the franchise’s history.
The new ownership group also intends to honor an existing agreement that allows Jeanie Buss to remain the Lakers’ governor for at least five years following the previous ownership transition.
Iger said he has already spoken with Buss and Lakers head coach JJ Redick, although he has not yet talked with Doncic.
Despite his extensive business experience, Iger said he does not yet have a detailed blueprint for changes to the Lakers. Instead, he emphasized that he and Kushner are longtime fans who appreciate what the franchise has already built both on and off the court.
Iger said the group intends to build on the Lakers’ existing strengths while acknowledging that the ownership transition is still in its early stages.
For Oceanside, the deal marks another milestone in the remarkable career of a local graduate who has risen from Long Island to the highest levels of entertainment and now professional sports.
Iger described the acquisition as an extraordinary moment personally and professionally, adding that the magnitude of the opportunity is still sinking in for him and his partners.
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