Venture capitalist Josh Kushner and former Disney chief executive Bob Iger have agreed to acquire the Los Angeles Lakers from owner Mark Walter at a record $12.5 billion valuation, just months after Walter purchased controlling stakes in the NBA franchise.
Ownership of the Los Angeles Lakers is changing hands once again in a stunning transaction that has sent shockwaves through the league as ESPN’s Ramona Shelburne reported. The deal, hammered out over a rapid 72-hour window according to 247wallst.com, values the franchise at $12.5 billion.
The Whirlwind Negotiations and Record Valuation
The agreement came together after Iger and Kushner initially explored acquiring an NBA expansion franchise in Las Vegas per 247wallst.com reporting. The two buyers approached Walter on Sunday, August 9, 2026, and successfully ironed out terms by Wednesday, August 12, 2026. This lightning-fast pivot secured the control of the team for a price tag that is the largest transaction in sports history.
Walter originally acquired controlling stakes from the Buss family at a roughly $10 billion valuation, a deal that was unanimously approved by the NBA Board of Governors on October 30, 2025 as documented by tsn.ca. Selling to Iger and Kushner nets Walter a massive paper profit of approximately $2.5 billion in a little over a year of ownership noted 247wallst.com.
“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, via ESPN
Leadership Continuity and League Approvals Pending
Despite the high-profile ownership flip, key operational figures from the prior agreement remain anchored to the franchise. Under the terms of the new deal, the Buss family retains a 15% stake, and Jeanie Buss will continue acting as the team’s governor for at least five more years reported 247wallst.com, carrying forward provisions established during the 2025 sale.
The transaction still requires formal clearance from the NBA and its Board of Governors noted tsn.ca, with the next scheduled league meeting set for September noted 247wallst.com. Industry insiders point out that Iger and NBA commissioner Adam Silver share a close, long-standing relationship forged through television rights agreements with ESPN and pandemic-era partnership efforts according to tsn.ca reporting.
Scrutiny Over Walter’s Sprawling Empire
The sudden exit of Walter has prompted widespread speculation across basketball circles regarding external motivations. Reporting from tsn.ca highlights that the sale follows recent disclosures by The Wall Street Journal regarding a federal probe into Walter’s conglomerate, TWG Global, involving roughly $16 billion in loans funneled to insurance subsidiary Delaware Life. While no charges have been filed against Walter or his corporate entities pointed out by 247wallst.com, industry executives note that liquidating such a high-profile asset provides immediate strategic flexibility.
All eyes now turn to the September league meetings to determine whether the Board of Governors will ratify the historic transaction.
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