Bob Iger Buys the Lakers for $12 Billion, Five Months After Leaving Disney
Bob Iger’s basketball obsession was never a secret. Disney Springs was the receipt.
For a short while, guests wandering Disney Springs walked past the NBA Experience, a two-story interactive attraction built entirely around basketball. Shooting challenges. A virtual draft. Replica locker rooms. Branding everywhere.
It was a strange fit for a district built on Disney intellectual property, and fans said so at the time.
It also did not survive. The NBA Experience underperformed, and the space eventually moved on.
But the interest behind it was real. Bob Iger has been open about loving basketball for decades, and Disney’s relationship with the NBA deepened under him through ESPN. That Disney Springs attraction was the interest made physical, even if guests never bought in.
Which makes today’s news hit differently for anyone who remembers it.
The Purchase
Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner have bought the Los Angeles Lakers for over $12 billion.
One of the largest transactions in the history of professional sports.
They bought from Mark Walter, who took a controlling interest from the Buss family last year for roughly $10 billion. Walter had been the majority owner since October.
Two ownership changes inside a year, and the valuation jumped about $2 billion in between.
What They Said
Iger and Kushner released a joint statement.
“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. We have immense respect for the leadership and vision of Jerry and Jeanie Buss.”
They continued: “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.”
Note the word “stewards” instead of owners. Deliberate choice, and it echoes exactly how Iger talked about legacy brands throughout his Disney tenure.
Walter’s Goodbye
The outgoing owner put out a statement, too, and it is genuinely warm.
“Owning the Los Angeles Lakers has been one of the great honors of my life, an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said.
“I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
They Were Chasing Something Else First
The Lakers were not the original target.
Iger and Kushner had been considering a major investment in a Las Vegas NBA expansion team before pivoting.
That is a big shift. An expansion franchise means building from scratch, with all the freedom and risk attached. The Lakers are the exact opposite: one of the most established and scrutinized franchises in American sports, with a fan base that demands championships and a history that leaves almost no room for experimentation.
Picking the Lakers over an expansion team says a lot about what they actually wanted.
Where Iger Sits With Disney
Iger retired as CEO of The Walt Disney Company in March. Josh D’Amaro took the job.
Iger remains a Senior Advisor and a member of the Disney Board through the end of 2026.
Still connected, no longer running it. That transition is what made a purchase this size possible at all. You do not buy and operate an NBA franchise while running Disney.
Back to Disney Springs
Worth circling back, because the throughline is genuinely good.
The NBA Experience was an odd project from the start. Disney rarely builds attractions around properties it does not own, and a basketball venue inside a Disney-branded shopping district was always going to struggle with guests who came for Disney things.
It did not work. Nobody watching was shocked when it closed.
But the interest driving it never went anywhere. The same executive who greenlit a basketball attraction in Central Florida just spent $12 billion on the most storied basketball franchise in the country.
Does This Affect Disney
Practically, no.
Iger is no longer CEO, and Disney’s direction now rests with Josh D’Amaro. This is a personal investment, not a corporate move, and there is no indication Disney is involved in the transaction at all.
The one interesting overlap is ESPN. Disney owns it, ESPN has a major NBA broadcasting relationship, and Iger sits on the Disney board through year’s end. Worth keeping an eye on, though nothing has been suggested publicly.
For now, this is simply a former Disney CEO doing something he has clearly wanted to do for a long time.
The NBA Experience did not last. This one probably will.
