The Lakers' Price Tag Is Out of This World

Twenty years ago, the Los Angeles Clippers were sold for $2 billion, and at the time, plenty of people thought the price was a massive overpay.

Today, that number looks like pocket change.

The latest example of just how dramatically the sports ownership market has changed comes from Los Angeles, where former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner have purchased the Los Angeles Lakers for more than $12 billion.

Let that number sink in for a minute. Twelve. Billion. Dollars.

Iger and Kushner had previously been considering a major investment in a potential Las Vegas NBA expansion team before changing course and setting their sights on one of the most iconic franchises in all of sports.

“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,” Iger and Kushner said in a statement. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

The pair purchased the Lakers from Mark Walter, who had acquired a controlling interest from the Buss family last year for approximately $10 billion. Walter had been the team's majority owner since October.

Walter described his time owning the Lakers as one of the great honors of his life.

“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said.

For Iger, the purchase represents a return to one of his longtime passions. He stepped down as CEO of The Walt Disney Company in March but remains a senior adviser and member of Disney's board through the end of 2026.

And while we're talking about Disney, I have one important piece of breaking news: There is absolutely no truth to the rumor that the Lakers' next center will be nicknamed "The Tower of Terror."

But in my mind, that's what it should be.

All kidding aside, the reaction from Lakers legends has already been positive.

Magic Johnson posted on social media, "Lakers fans, you couldn't have two better owners. I've known Bob personally for over 40 years — he has always loved the Lakers and basketball and will bring a championship back to LA."

That's a pretty strong endorsement from one of the greatest Lakers of all time.

The biggest question now isn't whether the Lakers are worth $12 billion. Clearly, the market believes they are.

The question is what Iger and Kushner will do with the most valuable asset in the NBA.

Twenty years ago, billions seemed like an unimaginable price for a sports franchise.

Now, apparently, it's just the cost of doing business in Los Angeles.

And if the Lakers start winning championships again, that $12 billion price tag might eventually look like a bargain.