The Los Angeles Lakers are set to change hands again, with a group led by Josh Kushner and Bob Iger agreeing to acquire a controlling stake in the NBA franchise. According to The Wall Street Journal, the deal values the Lakers at around $12.5 billion, the highest valuation ever recorded for a sports team.
The agreement comes less than a year after billionaire Mark Walter became the Lakers’ majority owner. Reuters, citing ESPN, reports that Walter’s previous deal valued the franchise at $10 billion and received approval from the NBA Board of Governors in October 2025.
Kushner and Iger lead the group buying the Lakers
According to The Wall Street Journal, Kushner and Iger are leading the investment group purchasing the controlling interest from Walter. The newspaper places the Lakers’ valuation at approximately $12.5 billion, while Reuters and Variety report the price as more than $12 billion.
Kushner is the founder of investment firm Thrive Capital, while Iger is the former chief executive of Disney and has longstanding ties to the NBA through the entertainment company’s relationship with ESPN. The two had previously been involved in discussions surrounding a potential NBA expansion franchise in Las Vegas, according to ESPN.
The new agreement represents another rapid increase in the Lakers’ valuation. Walter acquired the majority stake from the Buss family in a transaction that valued the franchise at $10 billion, according to Reuters.
Jeanie Buss will remain in a key Lakers role
The change of ownership does not mean an immediate departure for Jeanie Buss. According to The Wall Street Journal, she is expected to remain the Lakers’ controlling governor for at least five years, an arrangement established when Walter acquired his majority stake.
Walter also has major investments across professional sports, including the Los Angeles Dodgers and a stake in Premier League club Chelsea.
According to The Wall Street Journal, Kushner and Iger said they intend to build on the legacy established by Jerry and Jeanie Buss while maintaining the franchise’s connection with Los Angeles. The transaction now places the Lakers at a record valuation only months after their previous ownership change.
