The surprise deal gives Kushner and Iger control of one of the most famous franchises in global sports. They are buying the Lakers from Mark Walter, who took control only last year when the team was valued at roughly $10 billion.
The $12.5 billion price puts the Lakers far ahead of other major sports sales, including the Seattle Seahawks at $9.6 billion and Boston Celtics at $6.1 billion.
Kushner built Thrive Capital into a major investment firm and already owns part of the Miami Heat, a stake he will now need to sell. Iger spent years running Disney and already controls women’s soccer club Angel City FC with his wife.
The takeover still needs approval from NBA owners. Once approved, two prominent Jewish business leaders will own control one of basketball’s most valuable and powerful brands.