A proposed $12.5 billion acquisition of the Los Angeles Lakers has been announced by former Walt Disney Company CEO Bob Iger and investor Josh Kushner. The duo issued a joint statement to the press confirming the deal, which still requires approval from the NBA Board of Governors.

Conglomerate TWG Global CEO Mark Walter previously acquired a majority stake in the Lakers in 2025. Iger stepped down as Disney CEO earlier this year. He initially took the helm in 2005, leading the company for over a decade before returning for a second term in 2022, which lasted until 2026.

Kushner, the brother of President Donald Trump's son-in-law Jared Kushner, is the founder of the New York-based venture capital firm Thrive Capital. In a social media post in April, Kushner revealed that Iger had previously joined Thrive Capital early on and returned to the firm after leaving Disney in March of this year.

The transaction is now pending the NBA's formal sign-off.