American businessmen Josh Kushner and Bob Iger have reached an agreement to purchase the Los Angeles Lakers from Mark Walter for $12.5 billion, according to reports. The transaction values the franchise at a record-setting figure, continuing a trend of soaring NBA valuations that previously saw the Boston Celtics sell at a valuation of just over $6 billion and Michael Jordan sell his majority stake in the Charlotte Hornets for $3 billion, according to The Guardian.
Record-Breaking $12.5 Billion Agreement Reached
The deal comes just over a year after Walter acquired a controlling interest in the team from the Buss family at a then-record valuation of $10 billion, an acquisition that was finalized in October. According to Hoopsrumors, neither the Los Angeles Dodgers nor the WNBA’s Los Angeles Sparks are part of the sale. Walter is currently under federal investigation over allegations of tax fraud, with authorities examining loans tied to his conglomerate, TWG Global, though Walter has denied any wrongdoing.
New Ownership Background and NBA Pivot
Prior to finalizing the Lakers purchase, Iger and Kushner had been exploring ownership of an expansion franchise in Las Vegas, but ultimately pivoted to take control of the storied NBA franchise. Kushner is the founder of venture capital firm Thrive Capital and the younger brother of Jared Kushner, while Iger is the former CEO of the Walt Disney Company and co-owner of the NWSL team Angel City FC alongside Willow Bay.
“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,
” Kushner and Iger said in a joint statement. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.
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Because Kushner holds a minority stake in the Miami Heat, he must divest his interest in the Eastern Conference club before the Lakers deal can be officially finalized, according to Hoopsrumors. The transaction also requires formal approval from the NBA’s board of governors, a process that can take several weeks with the next board meeting set for next month in New York.
Team Transitions and Roster Outlook
The ownership change arrives amid a period of transition for the Lakers roster. LeBron James recently left the team in free agency after eight seasons to sign with the Philadelphia 76ers, leaving Slovenian superstar Luka Dončić to lead the squad alongside Austin Reaves and recently acquired center Walker Kessler, according to CBS Sports.
Despite the changes, prominent figures have expressed confidence in the incoming leadership. Lakers legend Magic Johnson wrote on social media that Iger will return the team to glory, telling fans they could not have two better owners. Dončić also stated an eagerness to build something special with the new ownership group as the franchise prepares for the upcoming season.
Notable North American Sports Valuations
| Team | Valuation / Sale Price |
|---|---|
| Los Angeles Lakers | $12.5 Billion |
| Seattle Seahawks | $9.6 Billion |
| Boston Celtics | $6.1 Billion |
| Washington Commanders | $6.05 Billion |
| Denver Broncos | $4.65 Billion |
| Phoenix Suns / Mercury | $4 Billion |
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