Bob Iger just dropped $12 billion on the Los Angeles Lakers. And suddenly that weird basketball building at Disney Springs looks a lot less random.
Let me connect the dots.
Look, for a short time, guests walking through Disney Springs strolled right past the NBA Experience. Two stories. Built entirely around basketball. Shooting challenges, a virtual draft, replica locker rooms, and branding on every surface.
Strange fit for a district built on many Disney intellectual properties and partnerships, and fans absolutely said so at the time.
It did not last either. The NBA Experience underperformed, and the space eventually moved on to other things.
But the interest behind it was never fake. Iger has been open about loving basketball for decades, and Disney's relationship with the NBA got significantly deeper under him through ESPN. That Disney Springs attraction was that obsession made physical, even if guests never bought in.
Which brings us to today.
The Deal
Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner have purchased the Los Angeles Lakers for over $12 billion.
One of the biggest transactions in the history of professional sports, full stop.
They bought from Mark Walter, who grabbed a controlling interest from the Buss family last year for around $10 billion. Walter had been the majority owner since October.
Two ownership changes in roughly a year, and the valuation climbed about $2 billion in that stretch. Wild.
What Iger and Kushner Said
The two put out a joint statement.
“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. We have immense respect for the leadership and vision of Jerry and Jeanie Buss.”
And: “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.”
Catch the word “stewards” instead of owners. That is a deliberate pick, and it is exactly how Iger talked about legacy brands during his entire Disney run.
Walter's Exit Statement
The outgoing owner said his piece, too, and it is a genuinely nice one.
“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.
“I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
This Was Plan B
The Lakers were not the original target.
Iger and Kushner had been eyeing a major investment in a Las Vegas NBA expansion team before switching course entirely.
Big pivot. An expansion franchise means building from nothing, with all the freedom and risk that come with it. The Lakers are the opposite in every way, one of the most established and most scrutinized franchises in American sports, with a fan base that expects titles and a history that leaves basically zero room to mess around.
Choosing the Lakers over an expansion team tells you what they were really after.
Where He Stands With Disney
Iger retired as CEO of The Walt Disney Company back in March. Josh D'Amaro took over.
Iger remains a Senior Advisor and a Disney Board member through the end of 2026.
Still around, no longer running the place. And that transition is precisely what made a purchase this size possible. You do not buy and run an NBA franchise while also running Disney.
Back to That Building at Disney Springs
The NBA Experience was odd from day one. Disney almost never builds attractions around properties it does not own, and a basketball venue parked in a Disney-branded shopping district was always going to fight guests who showed up for Disney stuff.
It flopped. Nobody paying attention was surprised.
But whatever was driving it never went away. The same guy who greenlit a basketball attraction in Central Florida just spent $12 billion on the most storied basketball franchise in the country.
Does Any of This Touch Disney
Practically, no.
Iger is no longer CEO, and Disney's direction now belongs to Josh D'Amaro. This is personal money, not a corporate play, and there is no indication Disney is involved in the transaction whatsoever.
The one overlap worth noting is ESPN. Disney owns it, ESPN has a huge NBA broadcasting relationship, and Iger holds a board seat through the end of the year. Worth watching, though nobody has suggested anything publicly.
For now, this is just a former Disney CEO finally doing the thing he has obviously wanted to do forever.
The NBA Experience did not make it. This one will.
