The Los Angeles Lakers have been acquired for a staggering $12.5 billion by an ownership consortium that features a notable name: former Disney CEO Bob Iger. This development marks an intriguing turn for Iger, who previously admitted he could not bring himself to cheer for the iconic basketball franchise.
Iger, joining forces with Josh Kushner and others in the acquisition, has been widely known for his decades-long courtside presence at games for the Lakers' crosstown rivals, the Clippers.
Following the announcement of the Lakers' sale, past comments made by Iger regarding his lack of affinity for the team quickly recirculated among fans.
A Former CEO's Unlikely Investment
In January 2021, Iger discussed his perspective on the Lakers during an appearance on "The Old Man and the Three" podcast, hosted by current Lakers head coach JJ Redick. During the conversation, Iger explained why, after relocating to California in 2000, he found it challenging to embrace the purple and gold.
"I couldn't root for the Lakers very easily," Iger told Redick. "It just was not in my DNA."
Iger clarified that his upbringing as a devoted New York Knicks fan made the idea of supporting the Lakers fundamentally incompatible with his loyalties.
Instead, he gravitated towards the Clippers to satisfy his passion for basketball. His decision to favor the Clippers over the more dominant Lakers was also influenced by a more pragmatic factor: cost.
Iger explicitly informed Redick that the Clippers' ticket prices were "a lot cheaper than the Lakers."
The individual who just played a role in purchasing the Lakers for $12.5 billion once chose the Clippers primarily because their tickets were more affordable. Iger's previous assertion that backing the Lakers wasn't "in his DNA" now stands in stark contrast to his new status as a part-owner of the franchise.
Financial Details and Timely Resale
The timing of this significant transaction adds another layer of intrigue. Billionaire Mark Walter had previously agreed to purchase the Buss family's controlling stake in the team in June 2025, based on an approximate valuation of $10 billion. Remarkably, just 14 months later, Walter is reportedly divesting his interest in the Lakers for $12.5 billion.
This rapid turnaround occurs amidst reports that Walter's extensive business operations are under federal scrutiny, which includes inquiries into billions of dollars in private-credit investments. While there is no conclusive evidence suggesting that the investigation compelled the sale or that Walter experienced a sudden need for capital, the swift divestment of the Lakers barely a year after his acquisition certainly makes the timing noteworthy.
As for Iger, his financial capacity to contribute to the franchise's purchase is evident. However, for someone who once publicly declared that supporting the Lakers was against his fundamental nature, becoming one of their owners represents a truly unexpected turn of events.
