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 franchises. This deal, which follows Mark Walter's acquisition last year, highlights the evolving landscape of NBA ownership. With the approval of the NBA's Board of Governors pending, Kushner and Iger express their commitment to upholding the legacy of this iconic team. Discover the implications of this monumental transaction and what it means for the future of the Lakers and their fans.

By Narendra Chaudhary Aug 12, 2026, 23:40 IST

Record-Breaking Sale of the Lakers

Los Angeles [US], August 12: 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 leading sports network.

If finalized, this transaction would mark the highest price ever paid for a sports franchise in history.

Kushner and Iger, who initially aimed to secure an NBA expansion team in Las Vegas, shifted their focus and made a bold offer for the Lakers. The team was previously acquired by Mark Walter from the Buss family last year, with a valuation around $10 billion.

In a joint statement, Kushner and Iger expressed their excitement, stating, “As lifelong NBA enthusiasts, we are truly honored to take on the stewardship of the Los Angeles Lakers, one of the most legendary sports franchises globally. We hold great admiration for the vision and leadership of Jerry and Jeanie Buss. Our commitment is to enhance that legacy, strive for excellence, and serve this remarkable team, its supporters, and the city of Los Angeles.”

The sale 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 Lakers as part of this deal.

His extensive sports portfolio through TWG Global also includes ownership interests in the Los Angeles Dodgers, Los Angeles Sparks, Chelsea FC, and the Professional Women’s Hockey League.

Walter remarked, “Owning the Los Angeles Lakers has been one of the greatest honors of my life. It’s been an extraordinary investment, but what I will cherish most is the community, the fans, and a city that embraces this team as family. I am thankful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers are a part of Los Angeles, and I am confident that the best is yet to come.”

The proposed $12.5 billion valuation signifies a significant increase from the $10 billion valuation associated with Walter's acquisition last year, setting a new record for professional sports franchise sales.

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.

Iger, 75, has served two non-consecutive terms as Disney's CEO and stepped down earlier this year. He, along with his wife Willow Bay, became the controlling owner of NWSL club Angel City FC in 2024.

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