Los Angeles Lakers Ownership Changes Again in Record-Breaking $12 Billion Deal
The Los Angeles Lakers are being sold again, this time for more than $12 billion, a new record for a North American sports franchise sale that comes less than 14 months after the team's previous record-setting deal.
Josh Kushner and former-Disney CEO Bob Iger have agreed to purchase the storied NBA franchise from Mark Walter, according to ESPN's Ramona Shelburne. The deal ends Walter's brief tenure as Lakers owner after less than a year; Walter, who also owns the Los Angeles Dodgers, had purchased controlling interest in the Lakers from the Buss family for approximately $10 billion in June 2025, a deal that itself set the previous North American sports franchise sale record.
A Surprise Pivot From an NBA Expansion Bid
Kushner and Iger had reportedly been involved in efforts to bring an NBA expansion team to Las Vegas before pivoting to pursue the Lakers instead, according to ESPN. In a joint statement, the pair expressed enthusiasm about taking over one of basketball's most recognizable franchises.
"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. "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."
It remains unclear exactly how much of the team is included in the sale, since Walter did not own the Lakers outright; former owner Jeanie Buss remains an investor in the franchise. A Lakers representative did not immediately respond to a request for comment.
A Franchise With a Long Ownership History
The Buss family had owned the Lakers since 1979, when Dr. Jerry Buss purchased the team, along with the NHL's Los Angeles Kings and The Forum, from Jack Kent Cooke for $67.5 million. After Jerry Buss died in 2013, the franchise passed to his children, with daughter Jeanie Buss serving as the team's governor ever since. When Walter purchased his controlling stake last year, he and Buss reportedly agreed she would remain governor for five years; it's not yet clear whether that arrangement will carry over under the new ownership group.
Walter, who has held a minority ownership stake in the Lakers since 2021, is currently facing a federal probe into related-party transactions tied to some of his other business holdings, according to Sportico, and reportedly suffered a stroke in October 2024. The Lakers, coming off Luka Dončić's first full season with the franchise, remain one of the most valuable properties in professional sports.
A Record That Keeps Getting Broken
The Lakers' new $12 billion-plus price tag shatters the previous North American sports franchise sale record, set by the team's own $10 billion sale just over a year earlier. That deal had itself topped the $6.1 billion paid for the Boston Celtics in early 2025 by a group led by Bill Chisholm, which had briefly held the record after surpassing the $6.05 billion Josh Harris' group paid for the NFL's Washington Commanders in 2023.
Other notable NBA sales in recent years include Mat Ishbia's $4 billion purchase of the Phoenix Suns and Phoenix Mercury in 2023, the Dallas Mavericks' $3.5 billion sale to the Adelson and Dumont families, and Joseph Tsai's $3.3 billion purchase of the Brooklyn Nets.
Kushner is the brother of Jared Kushner, a senior adviser during President Trump's first term. Iger and his wife, Willow Bay, also own the NWSL's Angel City FC, which they purchased in 2024 for $250 million.
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