LOS ANGELES, United States — The Los Angeles Lakers are set for a change in ownership after former Disney chief executive Bob Iger and businessman Joshua Kushner agreed to acquire the NBA franchise in a record-breaking $12.5 billion deal.
The proposed transaction would make the Lakers the most expensive sports franchise ever sold, surpassing the previous record valuation of $10 billion when Mark Walter acquired controlling interest in the team from the Buss family in 2025. The latest deal is subject to approval by the NBA’s Board of Governors.
Iger and Kushner, who had previously been exploring an NBA expansion opportunity in Las Vegas, reportedly shifted their focus to the Lakers and made an aggressive offer for the franchise. Their agreement with Walter’s ownership group comes barely a year after Walter took control of the historic team.
The development marks a dramatic turn in the ownership history of one of the world’s most recognisable basketball franchises. The Lakers, a 17-time NBA champion, have remained one of the most valuable and commercially influential teams in professional sports.
Iger brings extensive experience in the global entertainment industry, having served as chief executive of The Walt Disney Company and played a major role in building the company’s international media and sports-related business interests.
Kushner, a venture capitalist and founder of Thrive Capital, has also increased his involvement in professional sports investments. The two businessmen had reportedly been interested in securing an expansion franchise but ultimately targeted the Lakers, one of the NBA’s most established and valuable brands.
The agreement is expected to attract significant attention across the NBA because of both its unprecedented financial value and the relatively short period Walter has spent as the Lakers’ controlling owner.
Walter acquired control of the Lakers from the Buss family in a transaction that valued the franchise at about $10 billion. The latest agreement therefore represents a substantial increase in the franchise’s valuation within a little more than a year.
The proposed ownership change also comes at an important period for the Lakers on the basketball side. The franchise is undergoing a transition following the departure of LeBron James and the emergence of Luka Dončić as a central figure in the team’s future.
Despite the ownership change, the Lakers’ existing leadership structure is expected to retain continuity during the transition. Reports indicate that Jeanie Buss is expected to remain the team’s controlling governor for the next several years, although the new ownership arrangement would ultimately reshape control of the franchise.
Iger and Kushner have expressed their commitment to preserving the Lakers’ history and strengthening the team’s relationship with its supporters and the city of Los Angeles.
The proposed $12.5 billion sale highlights the extraordinary rise in the financial value of major American sports franchises, particularly NBA teams, as media rights, sponsorships, commercial partnerships and global fan bases continue to drive valuations higher.
If approved by the NBA, the transaction would establish a new benchmark for sports franchise sales and usher in a new ownership era for the Lakers.
