Lakers Deal Caps Billionaire Rush Into Sports

Bob Iger and Josh Kushner have agreed to purchase the Los Angeles Lakers for a record $12.5 billion, pivoting from their earlier pursuit of a Las Vegas NBA expansion team. This landmark deal reflects a broader surge of billionaire investment in sports franchises, as other major figures like Jeff Bezos also move to acquire stakes in premium sports properties. The transaction demonstrates the intense competition among wealthy investors to gain ownership in scarce and highly valuable live-sports assets.