The Los Angeles Lakers have been sold again, with an ownership group led by former Disney chief executive Bob Iger and investor Josh Kushner agreeing to take over the storied NBA franchise in a deal valued at more than $12 billion, according to ESPN and The New York Times and confirmed by NBC News. The price would set a new high-water mark for the cost of controlling a U.S. sports franchise, underscoring just how far the market for elite professional teams has climbed.
NBC News reported that the transaction has a $12 billion price tag and is being led by the Iger-Kushner group. A person familiar with the matter told NBC News the value is $12 billion. The report said the sellers include Mark Walter, whose prior purchase last year came with a valuation of roughly $10 billion. Walter did not immediately respond to a request for comment, NBC News noted. NBC News
Variety similarly described the sale as a move that values the Lakers at more than $12 billion, with the purchase coming just 14 months after the franchise changed hands for about $10 billion. In an early statement carried by the reporting, Iger and Kushner framed the acquisition as a continuation of the Lakers’ legacy rather than a break from it. “As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” they said, adding that they respect the leadership and vision of Jerry and Jeanie Buss. Variety
The Iger-Kushner pair emphasized a long-term approach that includes competing at the highest level. In their remarks, they said their commitment is to build on the foundation laid by the Buss family, serve the team and its fans, and support the city of Los Angeles. While the reports centered on the price and the ownership transition, the language in the statement suggested continuity: stewardship of an organization whose brand is among the most widely recognized in sports.
The quick turnaround between ownership groups adds another layer of intrigue. According to reporting summarized by The New York Times, Mark Walter agreed to purchase the Lakers for a record-setting $10 billion valuation only about a year earlier, and now is selling the team to Iger and Kushner at a valuation “of more than $12 billion,” citing a source with knowledge of the deal. The outlet described the deal timeline as coming roughly 14 months after Walter’s agreement. The New York Times (Athletic)
As the latest owners prepare to assume control, NBC News reminded readers that the Lakers are one of the most iconic franchises in American sports. The team has won 17 championships, with the most recent occurring in 2020. The team’s recent performance also reflects the league’s competitive churn: last season, the Lakers finished fourth in the Western Conference and were eliminated in the playoffs by the Oklahoma City Thunder in the semifinals. NBC News
Josh Kushner is not a newcomer to high-profile sports ownership. The reports state that he holds a minority stake in the Miami Heat. He also is described as the younger brother of Jared Kushner, linking the investor to a broader family of prominent business and political ties. Bob Iger, meanwhile, brings a legacy from his role as Disney’s former CEO, a background that may appeal to the Lakers’ mix of entertainment, brand management, and global reach.
The deal’s scale stands out not just within basketball, but across the broader U.S. sports landscape. Forbes, in reporting on the purchase, noted that the $12 billion valuation would eclipse the largest price ever paid for control of a U.S. sports franchise, beating the previous high set by Walter’s earlier purchase and the $9.6 billion paid by Vinod Khosla for the Seattle Seahawks earlier this year. Forbes also contextualized the Lakers’ valuation by pointing to franchise rankings—placing them as the second-most valuable NBA team last year at $10 billion, behind the Golden State Warriors and ahead of other major-market franchises. Forbes
While the financial details drive the headlines, the practical implications will be felt by the organization’s leadership, business operations, and ultimately the roster-building strategy. In the statements already attributed to the buyer group, Iger and Kushner projected a willingness to compete at the highest level—an assurance that will likely be scrutinized by fans and NBA observers alike given the Lakers’ massive expectations and historic brand.
The sale also reflects a market in which marquee franchises are increasingly treated like global assets, combining sports performance with entertainment economics. With the Lakers valued at more than $12 billion and the purchase coming only about a year after their previous record-setting transaction, the deal suggests that premium teams remain among the most coveted holdings in American business.
For now, the ownership transition marks a new chapter in Lakers history: a franchise synonymous with elite basketball, now entering the next era under Iger’s and Kushner’s stewardship. More details about the final structure of the transaction, timing for control, and any early shifts in management strategy may emerge as the league’s standard ownership approvals and closing processes move forward.
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