Key Takeaways
- Magic Johnson publicly endorsed new Los Angeles Lakers owners Josh Kushner and Bob Iger, saying fans “couldn’t have two better owners” and predicting Iger will “bring championships back to LA.”
- The $12.5 billion sale hands the franchise to two heavyweight figures—Disney veteran Iger, who also controls Angel City FC, and Thrive Capital founder Kushner, a minority owner of the Miami Heat—who frame their role as long-term “stewards” of the Lakers legacy.
- As the team shifts into a post–LeBron James era with six-time All-Star Luka Dončić as its centerpiece, the new owners vow to build on the Buss family’s foundation and keep the Lakers competing for titles for Los Angeles.
Magic Johnson is giving the Los Angeles Lakers’ blockbuster ownership change his full approval. After Josh Kushner and Bob Iger agreed to purchase the franchise in a deal reportedly worth $12.5 billion, the basketball legend told fans the team could not be passing into better hands—and predicted that another championship era is coming.
“Laker fans, you couldn’t have two better owners,” he wrote on X. The Hall of Famer reserved his most personal praise for Iger, whom he has known for decades. “I’ve known Bob personally for over 40 years—he has always loved the Lakers and basketball and he will bring championships back to LA.”
Johnson’s endorsement carries unusual weight: He spent his entire 13-season NBA career with the organization and later returned as its president of basketball operations.
The sale would place one of the world’s most recognizable sports brands under the control of two power players with deep ties to business, media and professional sports. Iger led the Walt Disney Company for nearly two decades across two separate runs as CEO, while he and his wife, Willow Bay, hold a controlling stake in the NWSL’s Angel City FC.
Kushner founded Thrive Capital and co-founded Oscar Health, and he already has NBA ownership experience through a minority stake in the Miami Heat.
Kushner and Iger described the purchase as a responsibility extending beyond the balance sheet. “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,” they said in a joint statement.
The pair also pledged to “build on” the work of Jerry and Jeanie Buss, compete for championships and serve the team’s fans and the city of Los Angeles.
The reported $12.5 billion agreement comes less than a year after businessman Mark Walter acquired a controlling interest in the Lakers at a valuation of roughly $10 billion. Walter, who also owns stakes in the Los Angeles Dodgers and Los Angeles Sparks, called his brief time atop the franchise “one of the great honors” of his life.
“The Lakers belong to Los Angeles, and I have every confidence the best is still ahead,” he said.
For his part, Johnson helped establish the standard the new owners will be expected to chase. Drafted No. 1 overall in 1979, he powered the Showtime Lakers to five championships, won three league MVP awards and captured three Finals MVP trophies.
The current Los Angeles Lakers are entering a dramatically different chapter: LeBron James departed for the Philadelphia 76ers in July, leaving six-time All-Star Luka Dončić as the centerpiece after he led the NBA with 33.5 points per game last season.
