Los Angeles Lakers Set for Historic $12.5 Billion Sale to Kushner and Iger

The Los Angeles Lakers are poised for a groundbreaking sale to Josh Kushner and Bob Iger for an astonishing $12.5 billion, potentially setting a new record for sports team sales. This deal, which requires NBA Board approval, highlights the commitment of the new owners to uphold the legacy of this iconic franchise. With a rich history and a passionate fan base, the Lakers' ownership transition marks a significant moment in sports history. Learn more about the details of this monumental transaction and the profiles of the new owners.

By Narendra Chaudhary Aug 12, 2026, 22:36 IST

Record-Breaking Sale of the Lakers

The Los Angeles Lakers are on the verge of being sold to entrepreneurs Josh Kushner and Bob Iger for an unprecedented $12.5 billion, as reported by a major sports network. If finalized, this transaction would mark the highest price ever paid for a sports team in history. Initially, Kushner and Iger were pursuing an NBA expansion franchise in Las Vegas but pivoted to make a bold offer for the Lakers, which were purchased by Mark Walter from the Buss family last year for around $10 billion.

Commitment to the Lakers' Heritage

"We are lifelong fans of the NBA and feel privileged to take on the role of guardians for the Los Angeles Lakers, a franchise that holds immense significance in the sports world. We greatly admire the vision and leadership of Jerry and Jeanie Buss," stated Kushner and Iger, according to reports. "Our dedication is to enhance this legacy, strive for excellence, and serve the team, its supporters, and the city of Los Angeles for years to come."

Transaction Details and Approval Process

This landmark deal is pending approval from the NBA's Board of Governors, with the next meeting set for September in New York. Walter, who became the majority owner of the Lakers last October after receiving unanimous approval from the NBA, will only sell his stake in the team as part of this deal. His broader sports investments include the Los Angeles Dodgers, Los Angeles Sparks, Chelsea FC, and the Professional Women's Hockey League.

"Owning the Lakers has been one of the greatest privileges of my life. It has been a remarkable investment, but what I will cherish most is the community, the fans, and a city that embraces this team as family. I extend my gratitude to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this journey. The Lakers are a part of Los Angeles, and I am confident that the best is yet to come," Walter expressed in a statement.

Profiles of the New Owners

Josh Kushner, 41, is the founder and CEO of Thrive Capital and co-founder of Oscar Health. He also holds a minority stake in the Miami Heat, which he must divest to adhere to NBA ownership regulations before finalizing the Lakers deal. Bob Iger, 75, has served two non-consecutive terms as CEO of Disney and stepped down earlier this year. Together with his wife, Willow Bay, he became the controlling owner of Angel City FC in 2024.

This ownership transition occurs just over a year after the Buss family sold a controlling interest in the Lakers to Walter, concluding their long-standing ownership of one of the NBA's most celebrated franchises.