The Los Angeles Lakers are being acquired by businessmen Josh Kushner and Bob Iger for a record $12.5 billion USD
Mark Walter is selling the franchise less than a year after purchasing a controlling stake valued at $10 billion USD
The transaction awaits official approval from the NBA Board of Governors at their upcoming September meeting
The Los Angeles Lakers are set to be acquired by Josh Kushner and Bob Iger for a record-breaking valuation of $12.5 billion USD. According to ESPN, the deal marks the highest sale price ever recorded for a professional sports franchise.
Kushner and Iger, who were previously involved in NBA expansion efforts in Las Vegas, pivoted to deliver an aggressive buyout offer to current majority owner Mark Walter. Walter, CEO and chair of TWG Global, acquired his controlling interest in the franchise from the Buss family last year for a then-record $10 billion USD. The transaction comes as Walter faces federal investigation regarding alleged tax fraud involving linked insurance entities, though he is selling only the Lakers and retaining his other sports investments across the Los Angeles Dodgers, Los Angeles Sparks, Chelsea FC, and Cadillac Formula 1.
The new ownership group combines Thrive Capital founder Josh Kushner—who will divest his minority stake in the Miami Heat to clear the path for the purchase—and former Disney CEO Bob Iger, who already holds controlling ownership of NWSL club Angel City FC. Lakers franchise cornerstone Luka Dončić expressed enthusiasm for the new ownership era following the departure of LeBron James, stating he looks forward to working with Kushner and Iger to build a championship team in Los Angeles. Kushner said of the new deal, “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. “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.”
The transaction remains subject to official approval from the NBA Board of Governors, with the review process expected to take several weeks ahead of the board’s next meeting in September 2026 in New York.
