The Los Angeles Lakers are changing hands in a historic transaction as Mark Walter sells the NBA franchise to an ownership group led by businessman Josh Kushner and former Disney executive Bob Iger for a record-breaking $12.5 billion, according to reports from ESPN’s Ramona Shelburne. The landmark deal comes just 14 months after Walter originally purchased the franchise from the Buss family for a then-record $10 billion, yielding a $2.5 billion profit in a little over a year.
Record-Breaking $12.5 Billion Sale of the Los Angeles Lakers
Before pivoting to acquire the Lakers, Kushner and Iger were involved in an expansion process aimed at bringing an NBA team to Las Vegas, as noted by bleacherreport.com. Instead, the pair opted to secure one of the most storied sports properties in the world, eclipsing previous valuation marks across American professional sports.
Background of the Buyers and Previous Leadership
Josh Kushner is the founder and managing partner of Thrive Capital, the brother of White House official Jared Kushner, and the son of United States ambassador to France Charles Kushner. Bob Iger, 75, served twice as the CEO of The Walt Disney Company from 2005 to 2020 and again from 2022 to 2026, stepping down in March. Iger and Willow Bay also became the controlling owners of the Angel City Football Club of the NWSL in 2024. Additionally, Kushner holds minority stakes in the Memphis Grizzlies and Miami Heat, which he would be required to divest if he takes over the Lakers.
In a joint statement provided to the nypost.com, Kushner and Iger expressed their perspective on the acquisition: 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,
they said.
Mark Walter, who will retain ownership of the Los Angeles Dodgers, released a statement to sports.yahoo.com calling his time owning the Lakers One of the great honors of my life.
Walter added: I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.
Roster Transition and Future Outlook
The ownership change arrives as the Lakers navigate a significant on-court transition. The team enters the post-LeBron James era following James’ departure to sign a two-year deal with the Philadelphia 76ers after eight years with Los Angeles. To maintain competitiveness, the franchise has built its present and future around six-time All-Star Luka Dončić, while also acquiring big man Walker Kessler and re-signing guard Austin Reaves.
The transaction requires approval from the NBA board of governors, with a review process that could take several weeks and a board meeting scheduled for September. Meanwhile, questions remain regarding the future day-to-day management structure, as Jeanie Buss had previously worked out an agreement to remain the Lakers’ governor for five years following the 2025 sale to Walter.
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