Lakers stunningly sold to Josh Kushner, Bob Iger for record $12.5 billion

The Lakers are changing owners again. And somehow, the price tag has gotten even bigger.

Mark Walter has agreed to sell controlling interest in the Lakers to a group led by businessman Josh Kushner and former Disney CEO Bob Iger at a staggering $12.5 billion valuation, according to ESPN.

That would represent the largest sale of an American professional sports franchise, topping the $10 billion valuation attached to Walter’s purchase of the Lakers from the Buss family just last year.

“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 statement.

The transaction still requires approval from the NBA Board of Governors and could take several weeks to become official.

Walter took control of the Lakers after purchasing the Buss family’s majority stake in 2025. Jeanie Buss remained the team’s governor as part of that arrangement.

Kushner, 41, is the founder and managing partner of Thrive Capital. Iger, 75, twice served as CEO of The Walt Disney Company and departed the company earlier this year. The two reportedly had been involved with a group exploring the possibility of pursuing an NBA expansion franchise in Las Vegas before turning their attention to the Lakers.

They’ll now inherit one of the league’s signature franchises at an interesting time.

LeBron James left Los Angeles for the 76ers this summer, officially turning the Lakers over to Luka Doncic. Los Angeles has since added Walker Kessler, Quentin Grimes and Colin Sexton while re-signing Austin Reaves.

So the post-LeBron era already had begun on the court. Now, stunningly, another era is beginning upstairs, too.