Los Angeles Lakers Sold For $12B, Social Media Finds Trump Connection

The Buss family’s reign over the Los Angeles Lakers has come to an end, with a new majority owner in Tinseltown.

ESPN reports that the Lakers have been purchased by Josh Kushner and Bob Iger for $12.5 billion, making it the most expensive pro team purchase in history.

Kushner and Iger were originally the leading party of interest in the NBA’s Las Vegas expansion set to join the league in 2028, but in a quick turn and aggressive move, they went with an already established franchise.

“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,” Kushner and Iger said in a statement. “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.”

Iger is the former two-time CEO of Disney, having recently stepped down earlier this year.

And if the Kushner name sounds familiar, it’s because his older brother Jared is married to President Trump’s daughter, Ivanka.

Josh is the founder of venture capital firm Thrive Capital. This isn’t his first foray into NBA ownership, having previously owned a small piece of the Memphis Grizzlies. He is currently a minority owner of the Miami Heat; a stake he’ll now have to sell.

While the Buss family is still the perceived figurehead of the Lakers, they actually sold a majority stake for $10 billion last year to Mark Walter.

“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. 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,” Walter said in a statement.

It hasn’t even been a year since Walter added the Lakers to his multi-billion-dollar business portfolio. But the offloading comes as Walter, who made his fortune in the insurance industry, is being investigated for alleged tax fraud involving $21 billion in policyholder money.

The Lakers now have a new look on the court with a LeBron James-less team led by Luka Doncic, and a new front office as well.

See social media’s reaction to the revamp below.