Former Walt Disney Company CEO Bob Iger just bought the Los Angeles Lakers. Executive Josh Kushner joined him in the $12.5 billion deal. Stephen A. Smith praised the purchase by his former boss on SiriusXM radio.
What We Know: Iger and Kushner acquired the Lakers from Mark Walter for $12.5 billion, a record NBA valuation. Moreover, Walter had owned the team for barely 14 months, buying it from the Buss family for roughly $10 billion. Iger served two stints as Disney’s CEO spanning about 20 years before stepping down in March. Additionally, the deal still needs NBA Board of Governors approval. Following the news, Stephen A Smith celebrated his former boss for the purchase.
What They Said: (All quotes from SiriusXM Radio)
Stephen A. Smith on Bob Iger owning the Los Angeles Lakers: “The Los Angeles Lakers have a new owner. One’s name is Josh Kushner. The other owner is the greatest executive I have ever known. The former CEO of Walt Disney, whose name is Bob Iger. You can’t do any better than this if you’re the Los Angeles Lakers. You can’t do any better than this if you’re the NBA.”
Stephen A. Smith on working for Bob Iger: “I worked for this man for many years. He’s a mentor. I love him dearly. He is the best in the best executive I’ve ever known. I don’t give a damn what anybody says. Two stints at Disney, spanning 18 years. Their market cap was at about $51 billion dollars years ago when the man started. He departed, and it was over $252 billion. When you talk about me and where I am today, there’s nobody that I owe more gratitude towards than Bob Iger.”
Stephen A. Smith believes Bob Iger will be great for the Los Angeles Lakers: “The man is next level brilliant. A savant as a businessman, one of if not the greatest ever. The Michael Jordan of executives is what I call him. That’s how I feel about him. He is now the new owner for the Los Angeles Lakers. Unbelievable.”
What Remains Unclear: Questions regarding who stays and who exits under the new ownership remain. Also, a timetable for NBA approval of the purchase is unknown.
What It Means: Iger’s arrival signals a new era of star power for the Lakers. Moreover, he built Disney into an entertainment giant, and Smith believes he’ll do the same for basketball. In addition, the purchase also reflects the surging value of NBA franchises overall. In conclusion, Lakers fans now have two Wall Street-caliber owners guiding the franchise forward.
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John Mamola is Barrett Media’s sports editor and daily sports columnist. He brings over two decades of experience (Chicago, Tampa/St Petersburg) in the broadcast industry with expertise in brand management, sales, promotions, producing, imaging, hosting, talent coaching, talent development, web development, social media strategy and design, video production, creative writing, partnership building, communication/networking with a long track record of growth and success. He is a five-time recognized top 20 program director in a major market via Barrett Medi’s Top 20 series and has been honored internally multiple times as station/brand of the year (Tampa, FL) and employee of the month (Tampa, FL) by iHeartMedia. Connect with John by email at John@BarrettMedia.com.