The Los Angeles Lakers are changing hands again – barely a year after the franchise’s previous record-setting sale.
Josh Kushner and Bob Iger have agreed to purchase the Lakers from Mark Walter in a deal worth around $12.5 billion, according to ESPN. The transaction would establish another record for the sale of a professional sports franchise, surpassing the $10 billion valuation attached to Walter’s acquisition of the Lakers in 2025.
The Los Angeles Lakers are being sold to American businessman Josh Kushner and Bob Iger for a record breaking price over $12 billion, multiple sources told ESPN.
Kushner and Iger were involved in the expansion process in Las Vegas, but a stunning turn, they pivoted to make an…
— Ramona Shelburne (@ramonashelburne) August 12, 2026
Walter acquired controlling interest from the Buss family last year, with the NBA Board of Governors formally approving that transaction in October 2025. The identity of the buyers makes the development even more notable.
Kushner, the founder of Thrive Capital, and Iger, the longtime Disney executive, had been exploring a completely different route into NBA ownership. The pair had hired advisers and discussed pursuing a potential expansion franchise in Las Vegas, one of the markets being studied by the league as part of its expansion process. Instead, they pivoted toward an opportunity few expected to become available: ownership of the Lakers.
The two prospective owners confirmed their intentions in a statement to ESPN, describing themselves as lifelong NBA fans and saying they were honored by the opportunity to become stewards of one of professional sports’ most recognizable franchises. They also praised the foundation established by Jerry and Jeanie Buss and said their long-term objective would be to compete at the highest level while serving the Lakers, their supporters and Los Angeles.
Walter, meanwhile, issued a statement reflecting on his remarkably brief period as the franchise’s controlling owner.
“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,” Walter said. “I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
Statement to ESPN from Josh Kushner and Bob Iger:
“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… https://t.co/IMvaW0Iolr
— Ramona Shelburne (@ramonashelburne) August 12, 2026
The speed of the ownership turnover is almost as remarkable as the price.
News of Walter’s agreement to acquire controlling interest from the Buss family first emerged in June 2025, ending more than four decades of Buss family control. That transaction was finalized only several months later. Now, less than a year after receiving league approval, Walter is preparing to pass the franchise to another ownership group.
