Josh Kushner and Bob Iger have agreed to acquire a controlling interest in the Los Angeles Lakers for a record $12.5 billion, according to reporting by ESPN and follow-up accounts. The prospective buyers said they were honored to steward the franchise and pledged a long-term commitment.
The statement from Kushner and Iger described the Lakers as an iconic team and paid respect to Jeanie Buss and the late Jerry Buss. Kushner is named in reports as managing partner of Thrive Capital. Iger is identified as the former chief executive of The Walt Disney Company.
Reports note the two had explored sports and cultural ventures together and were spotted alongside NBA Commissioner Adam Silver at the U.S. Open in September 2025. The sale would be the largest for an American professional sports franchise, surpassing the $10 billion valuation tied to Mark Walter’s purchase from the Buss family, as reported in previous coverage.
Mark Walter, listed as chairman and chief executive of TWG Global, agreed to sell his controlling stake after acquiring it from the Buss family, a transaction that was approved by the NBA Board of Governors in October 2025. The current transaction is reported to require NBA Board of Governors approval and could take several weeks to become official.
On Court Context And Ownership Implications
The ownership change arrives as the Lakers enter a transitional period on the court. LeBron James departed Los Angeles to join the Philadelphia 76ers after eight seasons, a move the coverage says has shifted franchise focus. The team finished the season 53-29, earned the No. 4 seed in the Western Conference, and was swept by the Oklahoma City Thunder in the conference semifinals.
Front-office leaders and head coach JJ Redick are preparing to operate in a post-LeBron era. Coverage cites roster moves that include the additions of Walker Kessler, Quentin Grimes and Colin Sexton, along with the re-signing of Austin Reaves. Reports also suggested that some observers view the team as turning over to Luka Doncic, reflecting wider commentary on roster direction.
Analysts and sources framed the sale as the start of a new era upstairs as well as on the floor. The buyers’ statement emphasized competing at the highest level and serving fans and the city of Los Angeles. The transaction follows a rapid sequence of ownership change, from the Buss family to Walter and now to Kushner and Iger, and will hinge on league approval before taking effect.
