Lakers Sold to Kushner and Iger in Record $12.5B Deal

The Los Angeles Lakers have been sold to Josh Kushner and Bob Iger in a record-breaking $12.5 billion deal. Read how this historic NBA sale impacts the team!

The Los Angeles Lakers have officially been sold to businessmen Josh Kushner and Bob Iger for a staggering $12.5 billion. This record-breaking transaction, finalized with current majority owner Mark Walter, marks the highest price ever paid for a North American professional sports franchise.

Elite sports franchise valuations have reached uncharted territory. In a blockbuster move that stunned the basketball world on Wednesday, the Los Angeles Lakers are changing hands for the second time in under a year and a half. American businessmen Josh Kushner and Bob Iger agreed to purchase the storied NBA franchise for $12.5 billion, representing a massive shift in the league’s ownership hierarchy.

The agreement comes roughly 14 months after Los Angeles Dodgers owner Mark Walter bought a controlling interest from the Buss family for $10 billion. By flipping the team to Kushner and Iger, Walter walks away with a massive $2.5 billion profit. The deal, which now awaits formal approval from the NBA Board of Governors, cements the Lakers as the most valuable asset in American sports history.

A Record-Breaking $12.5 Billion Sports Franchise Sale

The $12.5 billion price tag shatters previous records set within the past year. Prior to Walter’s $10 billion Lakers purchase in 2025, the previous high watermark for a U.S. sports franchise was Vinod Khosla’s $9.6 billion acquisition of the Seattle Seahawks, and before that, the $6.1 billion sale of the Boston Celtics.

The astronomical valuation reflects the Lakers’ unparalleled global brand presence. With 17 NBA championships to their name, the purple and gold remain a premier cultural and commercial powerhouse.

Mark Walter, CEO of TWG Global and owner of the Dodgers and Sparks, released a statement describing his brief tenure as a profound privilege.

“Owning the Los Angeles Lakers has been one of the great honors of my life—an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter stated. “The Lakers belong to Los Angeles, and I have every confidence the best is still ahead”.

Walter reportedly has no plans to sell the Los Angeles Dodgers.

Who Are Josh Kushner and Bob Iger?

The incoming ownership group merges heavy-hitting expertise in technology, venture capital, and global entertainment.

Josh Kushner’s Venture Capital Blueprint

Josh Kushner, the younger brother of Jared Kushner, is the founder of Thrive Capital. His firm has successfully backed major tech giants, including Instagram, Spotify, Stripe, and OpenAI. Kushner is no stranger to the NBA. He currently holds a minority stake in the Miami Heat—which league rules dictate he must now divest—and previously held a stake in the Memphis Grizzlies.

Bob Iger’s Los Angeles Legacy

Bob Iger, 75, brings decades of branding and media mastery to the front office. Having served two major tenures as Disney’s CEO before stepping down earlier in 2026, Iger is a beloved executive in the Los Angeles area. He already holds a controlling interest in the NWSL’s Angel City FC alongside his wife, Willow Bay.

In a joint statement, the duo expressed their dedication to the historic franchise:

“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”.

Interestingly, Kushner and Iger originally intended to spearhead an ownership group for an expected NBA expansion franchise in Las Vegas or Seattle. When the opportunity to acquire the Lakers emerged, they aggressively pivoted their strategy.

Timeline of Recent Lakers Ownership Changes

The Lakers’ front office has seen more upheaval in the past two years than in the previous four decades combined.

• 1979: Dr. Jerry Buss purchases the Lakers for $67.5 million. The family controls the team for 46 years.
• October 2025: Mark Walter buys a controlling interest from the Buss family for a then-record $10 billion.
• August 2026: Mark Walter sells the controlling interest to Josh Kushner and Bob Iger for $12.5 billion.

Jeanie Buss and the Franchise’s Legacy

Despite the rapid succession of sales, the Buss family’s fingerprints remain on the organization. Jeanie Buss, who guided the team following her father’s passing, is expected to remain the team’s governor for at least another five years. This arrangement ensures operational continuity and preserves the foundational culture established by Dr. Jerry Buss.

Magic Johnson Endorses the Move

The sale quickly drew reactions from prominent figures across the basketball landscape. Lakers legend and Hall of Famer Magic Johnson took to social media to voice his full support for the new ownership group.

“Laker fans, you couldn’t have two better owners,” Johnson wrote. “I’ve known Bob personally for over 40 years—he has always loved the Lakers and basketball and he will bring championships back to LA.”

Johnson emphasized that both men possess the financial resources, passion, and competitive drive necessary to return the franchise to championship contention.

Future Developments on the Court

While the boardroom transitions, the team on the hardwood is also entering a new era. The franchise is currently adjusting to life after LeBron James’ recent departure in free agency. Management has handed the keys to superstar Luka Dončić, who now serves as the focal point for the purple and gold’s championship aspirations.

Walter’s short 14-month ownership stint was not without impact. He integrated advanced sports science resources, modernized the business operations using strategies borrowed from the Dodgers, and optimized seating and sponsorships. Kushner and Iger are expected to accelerate these modernizations using their tech and entertainment backgrounds.

Approval by the NBA Board of Governors stands as the final hurdle. Given the smooth approval of Walter’s purchase just months ago, league insiders expect this process to be a formality. Once the ink dries, Kushner and Iger will bear the heavy expectations of a global fanbase hungry for an 18th championship banner.

Frequently Asked Questions

1. Who bought the Los Angeles Lakers?

Businessmen Josh Kushner (founder of Thrive Capital) and Bob Iger (former Disney CEO) agreed to purchase the Los Angeles Lakers for $12.5 billion.

2. How much did the Lakers sell for?

The franchise was sold for a record-breaking $12.5 billion, making it the most expensive sports team transaction in North American history.

3. Who sold the Lakers?

Mark Walter, the CEO of TWG Global and owner of the Los Angeles Dodgers, sold his controlling interest in the team. He had originally purchased the stake from the Buss family 14 months earlier for $10 billion.

4. Will Jeanie Buss stay with the Lakers?

Yes. Reports indicate that Jeanie Buss is expected to remain the team’s governor for at least five more years to maintain continuity.

5. Does Bob Iger own any other sports teams?

Yes. Bob Iger and his wife, Willow Bay, hold a controlling interest in Angel City FC, a professional women’s soccer team based in Los Angeles.

6. Does Josh Kushner own other NBA teams?

Josh Kushner previously held a stake in the Memphis Grizzlies and currently holds a minority stake in the Miami Heat. NBA rules will require him to divest his shares in the Heat before finalizing the Lakers acquisition

The $12.5 billion sale of the Los Angeles Lakers to Josh Kushner and Bob Iger redefines the financial landscape of professional sports. In flipping the team after a mere 14 months, Mark Walter proved just how rapidly elite sports assets are appreciating. With a new superstar in Luka Dončić on the court and a powerhouse ownership duo in the luxury suites, the Lakers are aggressively positioning themselves for the next era of NBA dominance. Fans now await the official NBA Board of Governors’ approval, ready to see how a tech billionaire and an entertainment titan will guide the franchise forward.