The Los Angeles Lakers have been sold to an ownership group led by Bob Iger and Josh Kushner for a reported $12.5 billion, according to multiple sources confirmed by ESPN. The deal, which is subject to approval by the NBA Board of Governors, marks the highest valuation ever for an NBA franchise.
Ownership Transition Confirmed
The Lakers were previously acquired by Mark Walter in October 2025 for a reported $10 billion, a record at the time, from the Buss family. Walter, who also owns the Los Angeles Dodgers and Los Angeles Sparks, sold his controlling stake to Iger and Kushner. The new ownership group issued a joint statement expressing their commitment to the franchise’s legacy and future success.
NBA Governance Process Underway
The NBA Board of Governors, which unanimously approved Walter’s purchase last year, will reconvene to review the new sale. The league’s governance process ensures that all transactions meet its financial and operational standards before finalization. The Lakers, one of the NBA’s most storied franchises with 17 championships, remain under the leadership of Jeanie Buss, who continues as the team’s governor for at least five years.
Background on the Franchise’s Valuation
The Lakers’ valuation has surged in recent years, reflecting the franchise’s global brand, revenue growth, and market position. The team’s iconic status, combined with lucrative media rights and sponsorship deals, has contributed to its record-breaking sale prices. The Buss family originally purchased the Lakers in 1979 for $67.5 million, including the Kia Forum and the Los Angeles Kings hockey team.
Statements from Key Figures
In a statement, Iger and Kushner emphasized their lifelong admiration for the Lakers and their intent to uphold the franchise’s traditions. Walter, in his farewell remarks, highlighted the team’s deep connection to Los Angeles and its fans. The NBA has not yet issued an official response regarding the timeline for approval.
Historical Context
The Lakers’ sale follows a broader trend of escalating NBA franchise valuations, driven by increased media rights deals and global expansion efforts. The league has also explored potential expansion teams in cities like Seattle and Las Vegas, though Iger and Kushner had previously considered joining that process before pivoting to the Lakers.
Next Steps
The NBA Board of Governors is expected to deliberate on the sale in the coming weeks. If approved, the transaction would finalize the transfer of ownership, ensuring the Lakers’ continued prominence in professional basketball.