From Showtime to Insurance Time: how the LA Lakers became a $12.5bn hedge fund play
Summary
The Los Angeles Lakers basketball team, originally bought for $16 million in 1979, is now potentially being sold for $12.5 billion to Bob Iger and Josh Kushner. This sale would make the Lakers the most valuable basketball team and shows a growing trend of big investors and private equity buying sports teams.Key Facts
- Jerry Buss bought the Lakers in 1979 for $16 million and owned the team until his death in 2013.
- At Jerry Buss’s death, the Lakers were worth $1 billion.
- Bob Iger, former Disney CEO, and Josh Kushner, brother-in-law to President Trump’s son-in-law, are negotiating to buy the Lakers for $12.5 billion.
- The NBA must approve the sale, and the Buss family is debating whether to sell their minority 17.8% stake.
- The Lakers were sold in June 2025 to private equity investors Mark Walter and Todd Boehly for $10 billion, who may now sell it again for a profit.
- This quick resale reflects a shift in sports ownership where teams are bought and sold for investment, not just tradition or family ties.
- Some NBA teams, like the Indiana Pacers and Chicago Bulls, still have long-term family owners.
- Many sports teams are becoming financial assets for investors rather than community symbols.
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