LA Lakers Shock: Josh Kushner and Bob Iger Agree to Record $12.5 Billion Sale

The Los Angeles Lakers are set for another stunning ownership change, with billionaire investor Josh Kushner and former Disney CEO Bob Iger reportedly agreeing to buy the NBA powerhouse for a staggering $12.5 billion.

The deal, reported by ESPN on Wednesday, would establish a new record valuation for an American sports franchise and comes less than a year after Mark Walter acquired controlling ownership of the LA Lakers from the Buss family.

The dramatic turnaround has stunned the basketball world, particularly because Josh Kushner and Bob Iger had been involved in discussions surrounding a potential NBA expansion team in Las Vegas before pivoting toward an audacious bid for one of the league’s most valuable franchises.

Lakers Sale Shatters Sports Record

If approved, the $12.5 billion transaction would represent a massive increase over the approximately $10 billion valuation attached to the LA Lakers when Walter purchased a controlling interest from the Buss family last year.

Kushner and Iger said they were honored to be named stewards of the iconic franchise. “As lifelong NBA fans,” they said, they intend to build on the foundation established by the Buss family while competing at the highest level and serving the Lakers, their supporters and Los Angeles.

The proposed sale still requires approval from the NBA Board of Governors, with the league’s next meeting scheduled for September in New York. That process could take several weeks.

Mark Walter’s Shock Exit

Mark Walter, chairman and CEO of TWG Global, became the Lakers’ majority owner after his purchase was unanimously approved by the NBA last October.

His ownership group has extensive interests throughout professional sports, including the Los Angeles Dodgers, Los Angeles Sparks, Chelsea FC and the Professional Women’s Hockey League.

TWG Motorsports also has interests in multiple racing operations, including Cadillac’s Formula 1 team.

Yet Walter is reportedly selling only his interest in the Lakers as part of the latest transaction.

In a statement, Walter described owning the Lakers as one of the great honors of his life and thanked the Buss family, players, employees and fans.

His exit comes as companies connected to Walter face scrutiny from federal authorities. Bloomberg previously reported that US prosecutors and the Securities and Exchange Commission were examining allegations involving insurers controlled by Walter. Those investigations concern alleged disclosure and tax issues involving other companies and are separate from the Lakers transaction.

Who Is Josh Kushner?

At 41, Josh Kushner is already a major force in technology and venture capital. He founded Thrive Capital and co-founded Oscar Health. The entrepreneur is also the younger brother of Jared Kushner, President Donald Trump’s son-in-law.

Josh Kushner has experience in professional sports ownership, holding minority interests in the Miami Heat and, previously, the Memphis Grizzlies.

To complete the Lakers purchase, however, he will reportedly need to sell his stake in Miami.

His involvement gives the Lakers a young, technology-focused billionaire investor with significant connections across Silicon Valley and the broader business world.

Bob Iger Brings Hollywood Power

Bob Iger, 75, brings a very different kind of influence. The longtime Disney executive stepped down from his second stint as the company’s CEO this year, handing the position to Josh D’Amaro.

Iger is already involved in professional soccer ownership. In 2024, he and his wife, Willow Bay, became controlling owners of Angel City FC of the NWSL.

His combination of entertainment expertise, global media relationships and sports ownership could give the Lakers an unusually powerful platform.

Lakers Enter a New Era

The proposed $12.5 billion Lakers sale represents far more than a change in ownership.

It would mark another extraordinary increase in the franchise’s value and potentially reshape the business strategy behind one of the world’s most recognizable sports brands.

For Lakers fans, however, the biggest question is what the new owners will do next.

The deal remains subject to NBA approval, but if it goes through, the Lakers will enter a new era — with Josh Kushner and Bob Iger taking control at a price that rewrites the record books.