The Lakers sale is shaking up the sports business world after Bob Iger and Josh Kushner agreed to purchase the Los Angeles franchise in a deal valued at a staggering $12.5 billion.
According to Variety, the former Disney CEO and Thrive Capital founder are buying the Lakers from Mark Walter, who gained control of the franchise after the Buss family sold a controlling stake in 2025. That transaction valued the Lakers at $10 billion, meaning the team’s reported valuation has climbed another $2.5 billion in roughly a year.
The Associated Press also confirmed the $12.5 billion agreement through a person familiar with the terms. The outlet reports that the transaction would establish another record for a professional sports franchise, although the deal is not final yet. NBA Board of Governors approval is still required before Iger and Kushner can officially take control.
For Iger and Kushner, the Lakers sale represents a major shift from their previously reported basketball ambitions. The Associated Press reports that the pair had been working together on the possibility of pursuing an NBA expansion franchise in Las Vegas. Instead of waiting for league expansion, they now have an agreement to take over one of basketball’s most recognizable brands.
“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,” Iger and Kushner said in a statement provided to Variety. “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 enormous price attached to the Lakers sale also highlights how quickly the value of elite professional sports franchises continues to grow. Reuters reports that Iger and Kushner are purchasing the Lakers for more than $12 billion, following Walter’s acquisition of a majority stake at a $10 billion valuation in 2025.
The ownership change arrives while the Lakers are already moving into a new chapter on the basketball side. LeBron James left Los Angeles after eight seasons and signed with the Philadelphia 76ers, while Luka Doncic now anchors the Lakers roster. The franchise has won 17 NBA championships and remains one of the league’s most globally recognized organizations.
Kushner already has experience inside NBA ownership circles. The Associated Press reports that he owns a minority stake in the Miami Heat and previously held a stake in the Memphis Grizzlies. Iger also brings sports ownership experience through Angel City FC, the Los Angeles based National Women’s Soccer League club that he owns with his wife, Willow Bay.
The speed of the ownership turnover makes this sale particularly unusual. Walter’s purchase of controlling interest was approved by NBA owners in October 2025. Less than a year later, another group is preparing to take control at an even higher valuation.
For Lakers fans, the names on the ownership documents may be changing quickly, but Iger and Kushner are publicly signaling that championship expectations are not. If the NBA approves the $12.5 billion agreement, one of basketball’s biggest franchises will enter another new era with two powerful figures from the worlds of entertainment, technology, and investing calling the shots.
