The Los Angeles Lakers are set to change ownership for the second time in just over a year, with former Disney CEO Bob Iger and venture capitalist Josh Kushner reaching an agreement to purchase the NBA franchise for a record-breaking $12.5 billion. According to reports from ESPN and the Associated Press, this transaction marks a new valuation summit for North American professional sports, surpassing the $10 billion figure paid by Mark Walter only 14 months ago.
The Financial Scale of the Lakers Sale
The $12.5 billion price tag solidifies the Lakers’ position as one of the most valuable assets in professional sports. According to the New York Times, this valuation follows a trend of rapidly increasing franchise prices, significantly outpacing the $6 billion valuation of the Boston Celtics sale last year. Mark Walter, who purchased a controlling stake from the Buss family in 2025, is exiting the ownership role after a brief tenure. Sources familiar with the terms, speaking on the condition of anonymity, confirmed the deal is pending approval from the NBA’s board of governors, which is scheduled to meet in September in New York.
Did you know?
The current $12.5 billion valuation for the Lakers is so high that only the Dallas Cowboys and the Los Angeles Rams have reached similar estimated valuations among NFL teams, according to data cited by the New York Times.
Ownership Transition and Strategic Direction
Bob Iger and Josh Kushner have issued a joint statement expressing their intent to serve as stewards of the franchise. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” the statement noted. While the sale involves the stake held by Walter, the New York Times reports that the agreement does not include the Buss family’s remaining shares. Jeanie Buss is expected to retain her role as the team’s governor, a position secured by a five-year stipulation in the 2025 deal that Iger intends to honor.
For Iger, the move into NBA ownership follows his recent acquisition of the NWSL team Angel City FC alongside his wife, Willow Bay. Kushner, who has previously held minority stakes in the Miami Heat and the Memphis Grizzlies, is the younger brother of Jared Kushner. The transition comes at a time of change for the team’s roster, as star forward Luka Dončić remains signed through the 2028-29 season and has publicly expressed his commitment to the franchise following the announcement.
Impact of Regulatory Scrutiny
The departure of Mark Walter occurs amid broader business pressures. According to the Daily Mail, Walter’s business empire is currently under investigation by federal prosecutors and the Securities and Exchange Commission regarding private-credit loans. Despite the timing, the sale has received support from Lakers icon Magic Johnson. Writing on social media, Johnson stated, “Laker fans, you couldn’t have two better owners,” noting his personal 40-year relationship with Iger.
Monitor the NBA board of governors meeting in September for official confirmation of the sale. This process is standard for all ownership changes in the league and typically takes several weeks to finalize.
Frequently Asked Questions
Who are the new owners of the Los Angeles Lakers?
The new owners are former Disney CEO Bob Iger and venture capitalist Josh Kushner.
What is the total value of the sale?
The sale is valued at $12.5 billion, marking a new record for a professional sports franchise in the United States.
Will Jeanie Buss remain with the team?
Yes, reports indicate that Jeanie Buss is expected to continue her role as the team’s governor, with the new ownership group intending to honor existing agreements.
When will the sale be finalized?
The deal requires approval from the NBA’s board of governors, which is expected to review the transaction at their upcoming meeting in September.
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