Bob Iger has gone from Disney boardrooms to Lakers courts, proving that even former studio chiefs occasionally need a change of scenery. After two stints as Disney CEO, Iger is joining Josh Kushner to buy the Los Angeles Lakers for $12.5 billion. Lifelong NBA fans themselves, the pair is stepping into a franchise boasting 17 championships and 32 Finals appearances. 

Now, with Hollywood and basketball already sharing the Lakers’ DNA, the franchise appears poised for a shiny new chapter.

Bob Iger is apparently swapping one kind of empire for another, moving from Disney royalty toward Lakers ownership in a $12.5 billion deal, as per ESPN. Iger and Josh Kushner still have to clear Thrive Capital’s due diligence and the NBA approval process. For Iger, who left Disney’s top job in March, the basketball court suddenly looks rather inviting.

“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,” said in a statemen

That declaration comes as Iger and Kushner step toward stewardship of one of sports’ grandest institutions. The prospective owners also praised Jerry Buss and Jeanie Buss for establishing the foundation they intend to continue.

The timing of the deal revealed by ESPN, however, comes with its own plot twist: LeBron James is leaving the Lakers after eight seasons and joining the Philadelphia 76ers. Kushner is hardly a stranger to the NBA, either, holding a minority stake in the Miami Heat. Iger, meanwhile, has already worked with Kushner through an advisory role at Thrive Capital.

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As entertainment giants like Disney reshape their businesses around streaming, the staggering the LA Lakers deal needs to be given a double take.

The Lakers have apparently decided that ordinary price tags are terribly passé, with Josh Kushner and Bob Iger agreeing to pay $12.5 billion for a controlling interest. That eye-watering figure does more than make headlines: it establishes a fresh record for the priciest professional sports franchise sale. Remarkably, it arrives only 14 months after the Lakers changed hands for $10 billion.

The price therefore delivers a rather spectacular 25% valuation jump in little more than a year. Mark Walter, the current majority owner, is exiting while federal regulators examine allegations surrounding private-credit deals involving his insurance companies. The transaction still has a few bureaucratic hurdles ahead, including due diligence and approval from the NBA.

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Are you looking forward to this new era of the LA Lakers with Bob Iger and Josh Kushner? Let us know in the comments!