Lakers to be sold to Bob Iger and Josh Kushner for $12.5B

Kushner and Iger moved to acquire the Lakers after pursuing an NBA expansion team in Las Vegas, according to ESPN. The agreement would end Walter’s brief tenure as the franchise’s controlling owner after his purchase from the Buss family was approved by the NBA in October 2025. The new ownership group will still require approval from the NBA Board of Governors, with the league’s next scheduled meeting set for September.

The $12.5 billion valuation exceeds the previous record of $10 billion established by Walter’s purchase and makes the Lakers the subject of the two largest professional sports franchise sales on record. Kushner, 41, founded the venture capital firm Thrive Capital and holds a minority stake in the Miami Heat, which he will have to sell as part of the Lakers transaction. Iger, 75, recently ended his second tenure as Disney’s chief executive and remains involved in professional sports through Angel City FC. The Lakers, one of the NBA’s most valuable and recognizable franchises, have won 17 championships and are entering a new ownership era following LeBron James’ departure and the continued development of Luka Doncic as the team’s central star.

The rapid change in ownership comes as the Lakers remain one of the most commercially valuable teams in global sports, with their brand built over decades around stars including Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant and James. Walter, who will retain his interests in the Los Angeles Dodgers and other sports properties, said his ownership of the Lakers had been a significant experience but is selling only his stake in the basketball franchise. The transaction is subject to NBA approval, meaning the ownership transfer is not yet complete.

Sources: EESPN, NBC News, The New York Times, Forbes, USA Today, CBS Sports and Associated Press.