Thursday, October 1, 2026
For Bob Iger, the longtime media executive who grew up in Oceanside, the chance to become an owner of one of the most iconic franchises in professional sports came together almost as quickly as it was unexpected.
Iger, a 1969 Oceanside High School graduate, and venture capitalist Joshua Kushner have agreed to purchase the Los Angeles Lakers from Mark Walter for a reported $12.5 billion, a record valuation for a U.S. professional sports team. The deal still requires approval from the NBA’s board of governors.
The agreement came just 14 months after Walter purchased a controlling interest in the Lakers from the Buss family for a then-record $10 billion.
Iger and Kushner had originally been pursuing a different path to NBA ownership. The pair were involved in efforts to secure a potential expansion franchise in Las Vegas when they learned that Walter might be interested in selling his stake in the Lakers.
They quickly changed course.
“We were involved in pursuing the new franchise in Vegas,” Iger said. “And while that happened, it was suggested to us that maybe Mark Walter would be interested in selling his stake in the Lakers.”
The two decided to pursue the opportunity and reached an agreement within three business days.
“It’s that simple,” Iger said.
For Iger, 75, the deal represents the culmination of a decades-long interest in sports ownership.
During his career at Disney, where he served as CEO from 2005 to 2020 and again from 2022 until March, Iger oversaw major acquisitions including Pixar Animation Studios, Marvel Entertainment, Lucasfilm and 21st Century Fox.
But owning a major professional sports franchise had remained an elusive goal.
Iger and his wife, Willow Bay, acquired a controlling stake in Angel City FC of the National Women’s Soccer League in 2024. He also previously explored opportunities involving the Phoenix Suns and NFL teams in the Los Angeles area.
In 2015, Iger joined an effort to bring the Oakland Raiders and San Diego Chargers to the Los Angeles area through a proposed stadium project in Carson. The NFL ultimately selected Stan Kroenke’s competing proposal in Inglewood, which became SoFi Stadium.
Now, Iger is set to take over the Lakers, a franchise with 17 NBA championships and a legacy that includes stars such as Jerry West, Wilt Chamberlain, Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O’Neal, LeBron James and Luka Doncic.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers,” Iger and Kushner said in a statement. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss.”
Iger said he and Kushner intend to respect an existing agreement that allows Jeanie Buss to remain the Lakers’ governor for at least five years following the previous sale.
“We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise,” Iger said. “And we have every intention to honor the agreement that was made between Mark and Jeanie.”
Iger has already spoken with Buss and Lakers coach JJ Redick but said he has not yet spoken with Doncic.
Despite his extensive business background, Iger said it is too early to lay out a detailed plan for the Lakers.
“We’re fans,” he said. “We respect the value that’s been created, both on the court and off.”
He added that the new ownership group wants to build from the franchise’s existing strengths while recognizing that the transition is still in its earliest stages.
“This is very new,” Iger said.
For Oceanside, the blockbuster deal adds another chapter to the story of a local graduate whose career has taken him from the South Shore to the highest levels of the entertainment and sports industries.
And now, Iger is preparing to add one of the biggest names in American sports to his résumé.
“It’s extraordinary from a life experience perspective and business perspective,” he said. “It’s still sinking in. We’re very excited.”
