Los Angeles Lakers

Joshua Kushner announced a teaming up with Bob Iger to purchase the Los Angeles Lakers for $12.5 billion, marking a record sale price in U.S. sports history. Kushner also detailed his investment strategy with Thrive Capital, noting that after Sam Altman advised skepticism, his firm invested over $2 billion in OpenAI.

Josh Kushner and Bob Iger announced a stunning agreement to buy the NBA’s Los Angeles Lakers from Mark Walter at $12.5 billion, which is stated as the highest valuation for a team sports sale. This deal marked a high-profile entry into the sports market for the tech investor Josh Kushner. Historically, he has also utilized his venture capital firm, Thrive Capital, to invest in companies like OpenAI and SpaceX.

Sports teams are transitioning from being seen as trophy assets to serious investment targets, with private equity deals in the sector growing significantly from 13 deals worth $1.9 billion in 2014 to 71 deals valued at $18.45 billion by 2025. Major leagues like MLB, NBA, NHL, and NFL have relaxed institutional ownership rules, enabling valuations such as the Miami Dolphins at $8 billion and the Los Angeles Lakers at $10 billion.

Mark Walter, owner of the Los Angeles Dodgers and Los Angeles Lakers, suffered a stroke in 2024 during the 2024 World Series and is under a federal investigation.

A Gen Z entrepreneur found a Wilt Chamberlain Lakers warm-up jacket at a Portland-area Goodwill store for $3.07. The jacket, worn during the 1972 NBA finals, was auctioned by Sotheby's for $89,600, exceeding initial estimates. Quinn Brown, who resells thrift store finds online, discovered the item after someone returned it to the pile.

Mark Cuban accuses Dallas Mavericks owner Patrick Dumont of excluding him from business opportunities related to a proposed arena move. Cuban claims Dumont engaged in adversarial practices, including a failed trade of Luka Doncic to the Los Angeles Lakers. The Mavericks are planning to build a new arena in north Dallas, with a lease expiration at American Airlines Center in 2031.

The Los Angeles Lakers are trading Deandre Ayton to the Washington Wizards in exchange for Jaden Hardy and second-round draft picks in 2031 and 2032. The Wizards, who recently added Trae Young and Anthony Davis, now have Ayton as a rim protector alongside Davis and Alex Sarr. The Lakers are also acquiring Walker Kessler from Utah as part of a sign-and-trade deal involving first-round picks and swaps.

LeBron James will not play for the Los Angeles Lakers next season and is considering multiple teams including Philadelphia, Cleveland, Miami, Minnesota, Denver, Golden State, San Antonio, Dallas, Boston, and New York. His agent, Rich Paul, indicated James is evaluating options based on factors like golf facilities and team competitiveness.

LeBron James is leaving the Los Angeles Lakers after eight seasons to play his 24th season with another team. Mike Vorkunov, an NBA and basketball business reporter for The Athletic, discusses the move.

LeBron James will continue his NBA career during the 2026-27 season but has informed the Lakers that they can move on without him. Sources indicate the Golden State Warriors are planning to pursue him.

LeBron James is in active negotiations with the Los Angeles Lakers on a new deal, as reported by ESPN.

The Los Angeles Lakers have laid off more than a dozen employees as part of a reorganization under new franchise leadership. The layoffs affect departments including marketing, team communications, team content, and corporate sponsorships.

Magic Johnson endorsed Karen Bass for a second term as Los Angeles mayor, citing her work on homelessness and crime reduction. Johnson has known Bass for three decades. The endorsement was shared on the social platform X.

Jeanie Buss, the Lakers' governor, donated the maximum $1,800 to Spencer Pratt's Los Angeles mayoral campaign, signaling support for his candidacy. Pratt, a political outsider, has raised significant funds ahead of the June 2 primary, challenging Karen Bass's lead. The donation highlights Buss's influence and may elevate Pratt's visibility in a closely contested race.