The Lakers were unexpectedly sold by Mark Walter this summer.
New ownership, led by Joshua Kushner and former Disney CEO Bob Iger, purchased the team for a record-setting $12.5 billion. Kushner and Iger plan to get the Lakers’ valuation to at least $30 billion within the next 10 years, according to the Wall Street Journal.
The investment firm led by Kushner, Thrive Capital, noted several aggressive financial projections featured in an investor presentation. The new Lakers ownership group laid out plans to expand the franchise via international growth and new local media rights opportunities.
Joshua Kushner attends the 2026 Met Gala celebrating “Costume Art” at the Metropolitan Museum of Art. Getty Images
Assuming that TV and streaming rights double in value, the moves above would reportedly increase the Lakers’ valuation, per Thrive Capital.
The Lakers are already a lucrative professional sports franchise with the team on pace to generate $681 million in revenue in 2026. Ticketing and media rights are set to account for the largest share of revenue this year.
Executive Chairman of the Walt Disney Company Bob Iger arrives at the world premiere for the film “The King’s Man” at Leicester Square in London, Britain. REUTERS
Jeanie Buss, CEO, Governor, and Co-owner of the Los Angeles Lakers, holds a new Lakers jersey as the team hosts a 2021-2022 season kick-off event at the UCLA Health Training Center. Los Angeles Times via Getty Images
Under ownership’s new plans, revenue is set to reach at least $1.6 billion by the end of 2037.
While Kushner and Iger purchased the majority stake in the Lakers from Walter, there is still some uncertainty surrounding the Buss family’s role in the franchise. Five of the Buss siblings have announced their intentions to sell their remaining 17.8% stake in the team.
However, Jeanie Buss has adamantly fought her siblings in completely cutting ties with the Lakers, which her father, the late Jerry Buss, entrusted her to run the organization.
Read the full article here
