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The Los Angeles Lakers are reportedly heading toward another historic ownership change. Josh Kushner and Bob Iger have agreed to buy the iconic NBA franchise for $12.5 billion, according to multiple reports. The deal would set a new record for the sale of a North American sports franchise.
The proposed transaction comes less than a year after Mark Walter acquired controlling ownership of the Lakers from the Buss family. Walter paid around $10 billion for the franchise in 2025.
Josh Kushner and Bob Iger Make a Major Move
Josh Kushner and Bob Iger are the leading figures behind the proposed purchase. Kushner is the founder and CEO of venture capital firm Thrive Capital. He also co-founded Oscar Health.
Iger is best known for his long career at Disney. He stepped down as Disney’s CEO earlier this year after serving two separate terms. He also became a controlling owner of NWSL club Angel City FC in 2024.
The two investors were previously involved in the expansion process connected to Las Vegas. However, their plans changed when they decided to pursue the Lakers instead.
In a joint statement, Kushner and Iger described the opportunity as an honor. They also stressed their desire to build on the franchise’s existing foundation.
$12.5 Billion Deal Would Break Sports Record
The reported $12.5 billion valuation would make the Lakers the most expensive North American sports franchise ever sold.
Mark Walter purchased the team for approximately $10 billion in 2025. That transaction itself established a record at the time.
The latest proposed sale would therefore represent a remarkable increase in the Lakers’ value within a very short period. It also highlights the enormous financial power and global appeal of the franchise.
The Lakers remain one of the most recognizable brands in professional sports. Their history, championships, star players and worldwide fan base continue to make the organization highly valuable.
Mark Walter’s Short Ownership Era
Walter became the Lakers’ majority owner after the NBA approved his bid last year. His ownership period lasted less than a year before the reported agreement with Kushner and Iger.
Walter said owning the Lakers was one of the great honors of his life. He also thanked Jeanie Buss, the Buss family, the players, staff and fans.
Walter will reportedly retain his interests in other sports organizations. His business group, TWG Global, has connections to several major sports properties. These include the Los Angeles Dodgers, Los Angeles Sparks and Premier League club Chelsea.
The reported Lakers transaction involves only the basketball franchise.
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NBA Approval Is Still Required
The deal is not complete yet. The NBA’s Board of Governors must approve the proposed ownership change.
That approval process could take several weeks. The next board meeting is scheduled for September in New York.
Until the league completes its review, Kushner and Iger cannot officially take control of the Lakers.
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Lakers Enter a New Era
The ownership news arrives during a major transition for the Lakers on the basketball side.
The franchise is moving forward with Luka Doncic as its central superstar after LeBron James left the team in free agency this summer. James joined the Philadelphia 76ers after a historic run in Los Angeles.
LeBron helped the Lakers win the 2020 NBA championship. His departure creates a major challenge for the organization.
The new ownership group could therefore arrive at a critical moment. Fans will closely watch how Kushner and Iger approach the roster, front office and long-term business strategy.
What the Lakers Sale Means
If approved, the Lakers $12.5 billion sale would become a landmark deal in sports business history. It would also demonstrate how quickly elite sports franchises can increase in value.
For Lakers fans, the biggest question will be what the new ownership means for the team’s future. Kushner and Iger have already expressed a commitment to competing at the highest level.
The Lakers now appear ready to begin another new chapter. With a record valuation, new ownership and a changing roster, the franchise enters an important period both on and off the court.
