An ownership group led by Josh Kushner and Bob Iger has agreed to buy the Los Angeles Lakers for about $12.5 billion, three outlets reported. ESPN first reported the sale and NBC News confirmed the buyers, while The Associated Press described the figure as part of the agreement.
The buyers issued a joint statement saying they are "deeply honored" to steward the franchise and that they plan to build on the team's foundation and serve fans and the city, as reported by NBC News. The deal follows Mark Walter's purchase of a controlling stake at about a $10 billion valuation last year, a transaction that was approved by NBA owners at the time, according to NBC News and CBC Sports.
The Lakers will still need approval from the NBA board of governors. CBC Sports said the league's next governors meeting is set for September in New York. The reported $12.5 billion price would set a new high for U.S. professional sports franchises and further push franchise valuations above previous records.
The team remains one of the NBA's most decorated franchises with 17 championships, the most recent in 2020. Sources reported recent roster changes, including LeBron James departing to sign with the Philadelphia 76ers and the Lakers now centered on scoring leader Luka Dončić, who is signed through the 2028-29 season according to reporting.
Reactions Risks And Ownership Background
The sale drew swift public reaction and raised fresh questions about several parties involved. Magic Johnson praised the deal on social media, saying Laker fans could not have two better owners, as reported by CBC Sports. Jeanie Buss's future role as team governor is unclear under new ownership, CBC said.
Kushner's business background was noted across reports. He is described as the founder of Thrive Capital and a co‑founder of Oscar Health, and he holds minority stakes in other NBA franchises, according to NBC News and CBC Sports. Multiple outlets linked Kushner or his firms to a proposed FIFA investment plan that provoked controversy and was abandoned, with reports referencing his Thrive-related entities.
Iger's profile also featured in coverage. Reports said he served as CEO of The Walt Disney Company in two separate stints and that he and his wife bought a controlling stake in Angel City FC at a $250 million valuation, according to NBC News and CBC Sports.
Media accounts also noted the surprising speed of the ownership turnover. CBC reported Mark Walter sold after about ten months of official control. NBC News and CBC said Walter and Guggenheim Partners are under scrutiny by the U.S. Attorney's Office in Manhattan and the Securities and Exchange Commission in related investigations, a development that could influence league and public reaction.
