Los Angeles Lakers owner Mark Walter and investor Josh Kushner have reached an agreement on all outstanding terms for the sale of the NBA team, valued at a record $12.5 billion, according to multiple sources with direct knowledge of the negotiations. The deal, first reported by the Los Angeles Times and later confirmed by Newsweek, marks a significant milestone in the proposed ownership transfer but remains subject to final league approval.
Key developments in the transaction:
- The agreement between Walter and Kushner has been finalized, though it has not yet been formally signed.
- The sale must undergo review by the NBA’s Board of Governors before it can be officially completed.
- Kushner has assured Walter that he has secured the necessary funding to finalize the transaction, according to reports.
- The deal includes a partnership with Bob Iger, former Disney CEO, who is co-investing with Kushner.
The proposed sale follows Walter’s acquisition of a majority stake in the Lakers in 2025 for $10 billion, a purchase that itself occurred less than a year after he took ownership from the Buss family. The Lakers’ valuation has since increased by $2.5 billion in roughly one year, reflecting the franchise’s growing commercial value.
Next steps and remaining hurdles:
The agreement must now be formally executed and submitted to the NBA for review. The league’s Board of Governors will then vote on whether to approve the sale. If approved, ownership of the Lakers would transfer to Kushner and Iger, pending no further complications.
Kushner, founder of Thrive Capital and brother of Jared Kushner, has not publicly commented on the deal’s specifics. Walter, who also owns the Los Angeles Dodgers and serves as CEO of Guggenheim Partners, has not disclosed a deadline for closing the transaction.
The Lakers’ ownership transition comes amid broader changes for the franchise, including the arrival of star player Luka Dončić and the departure of longtime cornerstone LeBron James. The team’s global popularity and commercial appeal remain among the strongest in professional sports, contributing to its record valuation.
Background on the buyers:
- Josh Kushner: Venture capitalist and founder of Thrive Capital, with prior experience in sports investment discussions.
- Bob Iger: Former Disney CEO with extensive experience in media and entertainment, bringing corporate leadership to the partnership.
The NBA has not yet issued an official statement regarding the proposed sale. All parties involved have declined to comment beyond the details reported by media outlets.