Josh Kushner and Bob Iger Agree to Purchase the Los Angeles Lakers for $12.5 Billion

Venture-capitalist Josh Kushner and former Disney chief Bob Iger have reached an agreement to acquire the Los Angeles Lakers for approximately $12.5 billion, the highest price ever recorded for a professional-sports franchise. The deal would transfer the controlling stake from Mark Walter, the chief executive of diversified holding company TWG Global, who bought the team from the Buss family last year for roughly $10 billion. Completion of the transaction requires approval from the NBA’s board of governors, with the next meeting slated for September in New York.

ESPN

Walter, who became majority owner in October after an NBA-unanimous vote, has built a portfolio that includes the Los Angeles Dodgers, Sparks, Premier League club Chelsea, and several auto-racing teams. His acquisition of the Lakers followed a record-setting valuation that placed the franchise ahead of the 2025 Seattle Seahawks sale ($9.6 billion) and the 2025 Boston Celtics sale ($6.1 billion), according to ESPN research.

ESPN

The $12.5 billion price surpasses the previous franchise high set by Walter’s own purchase. Bloomberg reported in July that federal prosecutors in Manhattan are examining two Walter-controlled insurers—Delaware Life Insurance Co. and Clear Spring Life and Annuity Co.—for alleged tax-fraud violations, while the Securities and Exchange Commission is conducting a parallel probe. Kushner, who founded venture-capital firm Thrive Capital and co-founded Oscar Health, must divest his minority stake in the Miami Heat to satisfy league ownership rules.

ESPN

Luka Doncic, identified by the media as the Lakers’ franchise cornerstone after LeBron James’s departure, posted on X that he looks forward to meeting the new owners and “building something special in LA.” Iger told the California Post that the deal “came together in three days,” emphasizing its simplicity.

ESPN

• “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,” — Mark Walter

ESPN