Lakers set for $12.5 billion sale to Josh Kushner, Bob Iger in record deal | Other Sports News

The Los Angeles Lakers are set for another major change in ownership, with billionaire investors Josh Kushner and Bob Iger agreeing to buy the iconic NBA franchise for a record $12.5 billion, according to multiple reports.

The proposed deal would make the Lakers the most expensive professional sports franchise ever sold, surpassing the $10 billion valuation at which Mark Walter acquired a controlling interest in the team from the Buss family in 2025.

Kushner and Iger, who had been involved in efforts to secure an NBA expansion franchise in Las Vegas, reportedly switched their focus to the Lakers after being approached about the possibility of buying Walter’s stake. Iger said the deal came together in just three days.

Lakers set to break their own record

If approved, the transaction will see the Lakers occupy the top two spots on the list of the biggest professional sports franchise sales.

The franchise was purchased by Walter for around $10 billion last year, itself a record at the time. The proposed $12.5 billion sale would now eclipse that figure by $2.5 billion.

The Lakers’ valuation highlights the extraordinary growth in the financial value of major American sports franchises, with the Seattle Seahawks’ $9.6 billion sale in 2026 currently ranking third, followed by the Boston Celtics at $6.1 billion in 2025.

The deal is not yet complete. It must be approved by the NBA’s Board of Governors, with the next meeting scheduled for September in New York.

Who are Josh Kushner and Bob Iger?

Kushner, 41, is the founder of venture capital firm Thrive Capital and co-founder and vice chairman of Oscar Health. He is also the younger brother of Jared Kushner, President Donald Trump’s son-in-law.

He already has experience in professional sports ownership, holding a minority stake in the Miami Heat and previously owning a minority interest in the Memphis Grizzlies. He will have to sell his Heat stake as part of the process of acquiring the Lakers.

Iger, 75, is one of the most prominent executives in the entertainment industry. He served two separate terms as Disney CEO before stepping down earlier this year. He and his wife, Willow Bay, also became controlling owners of NWSL club Angel City FC in 2024.

Walter sells Lakers stake but keeps other sports interests

Mark Walter’s ownership of the Lakers lasted less than a year. He became the franchise’s majority owner in October 2025 after the NBA unanimously approved his bid to acquire control from the Buss family.

Walter will sell only his Lakers interest in the latest transaction. His wider sports empire remains intact.

Through TWG Global, Walter has interests in several major sporting organisations, including the Los Angeles Dodgers, Los Angeles Sparks, Chelsea and the Professional Women’s Hockey League. His motorsports interests also include several racing teams, including Cadillac’s Formula One operation.

Walter described owning the Lakers as one of the great honours of his life, while expressing confidence that the franchise has a bright future.

Luka Doncic welcomes new Lakers owners

The ownership change comes at an important point for the Lakers on the court.

With LeBron James having departed, Luka Doncic has emerged as the franchise’s central superstar and long-term cornerstone.

Doncic welcomed the incoming owners on social media, saying he was excited to return to the court and help bring another championship to Los Angeles.

The Slovenian star also acknowledged that the Lakers have undergone significant changes in recent years but expressed confidence in the franchise’s potential under the new ownership.

Kushner’s links to FIFA add another layer

Kushner’s involvement in the Lakers comes at a particularly interesting time because of his wider connections to the sports business world.

His investment vehicle, Thrive Eternal, was linked to FIFA’s controversial proposal to sell a minority stake connected to the commercial operation of the World Cup and Club World Cup. FIFA president Gianni Infantino withdrew the proposal earlier this month following widespread opposition.

Kushner’s latest move, however, would give him control of one of the most valuable and globally recognised sports brands in the world.

Lakers’ extraordinary rise in value

The proposed transaction also illustrates how dramatically the value of elite sports franchises has increased.

The Lakers were valued at approximately $10 billion when Walter took control in 2025. Just a year later, a proposed $12.5 billion sale would represent a $2.5 billion increase, or roughly 25%, in the franchise’s valuation.

For a franchise that has won 17 NBA championships and boasts a global fan base, the commercial potential extends far beyond ticket sales and basketball operations.