LA Lakers to be sold in record $12.5bn deal

Bob Iger, the former chief executive of The Walt Disney Company, and Josh Kushner, the brother of U.S. President Donald Trump’s son-in-law Jared Kushner, have agreed to purchase the Los Angeles Lakers basketball franchise for $12.5 billion, according to multiple reports. This marks the largest sale of an NBA team in history and comes less than a year after Mark Walter, co-owner of the Guggenheim Baseball Management group, acquired a majority stake in the team. Walter has decided to sell his controlling interest amid ongoing investigations into his insurance business empire. The sale follows a swift acquisition process that began with Walter purchasing the Lakers from the Buss family in October 2025. At that time, the NBA Board of Governors unanimously approved the transaction, which valued the team at around $10 billion. Now, under the new ownership, the Lakers will transition to a partnership between Iger and Kushner, who have expressed their enthusiasm for taking over the franchise. According to statements released by Iger and Kushner, they described themselves as lifelong NBA fans and emphasized their deep admiration for the legacy built by the previous owners, Jerry and Jeanie Buss. They pledged to continue supporting the team’s competitive spirit and to honor the values established during the Buss era. Their goal, they said, is to ensure the Lakers remain a dominant force both on and off the court while maintaining a strong connection with the city of Los Angeles and its fan base. Mark Walter had taken control of the Lakers in a high-profile move that saw him replace the Buss family, who had owned the team since 1977. His tenure lasted just under a year before he opted to exit the franchise. The decision to sell came amid scrutiny surrounding his insurance company, which faces regulatory challenges in several states. While no direct link has been made public between these inquiries and the sale, the timing suggests that the legal pressures may have influenced Walter’s choice to divest his holdings. Iger, known for his leadership at Disney, brings extensive experience in media and entertainment to the table. Kushner, meanwhile, has been active in venture capital and technology investments. Together, they represent a blend of traditional sports management and modern business acumen. Their combined resources and strategic vision are expected to provide the Lakers with a robust financial backing and innovative direction moving forward. The Lakers, one of the most storied franchises in American sports, have consistently drawn massive audiences and maintained a presence at the top of the league. With this new ownership structure, there is anticipation about how the team will evolve in terms of player acquisitions, stadium developments, and community engagement initiatives. Analysts suggest that the involvement of high-profile figures like Iger and Kushner could elevate the Lakers' global brand even further. The sale price of $12.5 billion sets a new benchmark for valuations in professional sports. It reflects not only the team’s current performance and marketability but also the potential for future growth in a rapidly expanding industry. As the deal moves toward finalization, all parties involved are expected to work closely with the NBA to ensure a smooth transition and continued success for the franchise.