Lakers $12.5 B Sale Triggers NBA Valuation Surge and Family Governance Clash

Mark Walter is negotiating the sale of the Los Angeles Lakers to Joshua Kushner and Bob Iger for $12.5 billion. The deal follows Walter’s acquisition of a controlling stake at a $10 billion valuation the prior year. If the transaction clears NBA approval, the Lakers would change hands at roughly 20 times the team’s 2025-26 season revenue, an unprecedented multiple for a control stake.

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CNBC’s proprietary transaction database projects that the average NBA franchise value would rise 21 % to $6.68 billion after the Lakers sale is approved. The Golden State Warriors would stay the most valuable team, climbing to $13 billion from $10.8 billion. The New York Knicks and Chicago Bulls would see the largest percentage gains, each increasing 26 % from February’s baseline figures. CNBC cites arena economics, market size and heightened investor interest as key drivers of the revised valuations.

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Under NBA guidelines, a controlling owner or governor must hold at least 15 % of a franchise. The Buss family currently retains a minority stake of just over 15 % after the original sale to Walter, allowing Jeanie Buss to remain the team’s governor. The pending transaction would transfer the Buss family’s remaining 17.8 % share to Kushner and Iger, dropping Jeanie’s ownership below the 15 % threshold.

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The Buss siblings have split on the sale. Five siblings voted to sell their shares, while Jeanie Buss has not consented. The siblings argue that a 2017 court ruling requires co-trustees—Jeanie, Janie and Joey—to approve any sale, a point Jeanie contends. The siblings’ statement emphasizes their unity in pursuing the sale, whereas Jeanie maintains her right to block the transaction under the trust provisions.

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• “Once the transaction is completed, Jeanie Buss will no longer have the needed ownership percentage to remain governor because NBA guidelines require controlling owners/governors to own at least 15% of a franchise,” — Shams Charania

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• “Dr. Buss’ idea was for Joey and I to run basketball operations one day,” — Jesse, assistant general manager

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