The Los Angeles Lakers have been sold to an ownership group led by Josh Kushner and Bob Iger for a reported $12.5 billion, the NBA confirmed on [date]. The sale, which was unanimously approved by the NBA Board of Governors, marks the highest valuation for an NBA franchise in history and follows Mark Walter’s acquisition of the team for $10 billion in October 2025.
Key Developments
- The Lakers were purchased from Walter’s ownership group, which had acquired the franchise from the Buss family less than a year prior.
- The new ownership group includes Josh Kushner, founder of Thrive Capital and brother of Jared Kushner, and Bob Iger, former CEO of Disney.
- The NBA Board of Governors approved the sale, ensuring compliance with league ownership rules.
Ownership Transition and Legacy
The Lakers, one of the NBA’s most storied franchises with 17 championships, will now be led by Kushner and Iger, who expressed their commitment to the team’s legacy. In a joint statement, they said: “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.”
Mark Walter, who sold the team, reflected on his tenure, stating: “Owning the Los Angeles Lakers has been one of the great honors of my life. It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family.”
Background and Financial Context
The Lakers’ sale follows Walter’s $10 billion acquisition from the Buss family in October 2025, which at the time set a record for the highest NBA franchise valuation. The new $12.5 billion deal represents a 25% increase in value over Walter’s purchase, underscoring the franchise’s growing financial stature.
The NBA’s approval process ensures that the new ownership group meets league standards, including financial transparency and commitment to the sport. The league has not disclosed additional details about the transaction, including the breakdown of the ownership stakes between Kushner and Iger.
Reaction and Future Implications
Jeanie Buss, the former family governor of the Lakers, remains involved in an advisory capacity, reflecting the team’s continuity despite the ownership change. The Lakers’ new leadership has pledged to maintain the franchise’s competitive edge while honoring its history.
The sale comes amid broader discussions about NBA expansion, with the league exploring potential new markets such as Seattle and Las Vegas. Kushner and Iger were previously involved in expansion discussions before pivoting to acquire the Lakers.
League and Fan Response
The NBA has not commented on potential changes to the franchise’s operations under the new ownership. Fans and analysts will closely monitor whether the sale triggers shifts in team strategy, player acquisitions, or community engagement initiatives.
The Lakers’ new ownership group has not announced immediate plans but emphasized a long-term commitment to the franchise and its fanbase.