The Los Angeles Lakers are being sold to Josh Kushner and Bob Iger for more than $12 billion, a price that would make the deal the most valuable franchise sale in sports history. Mark Walter, who became the team’s majority owner last October, is stepping aside after holding the club for less than a year.
The reported valuation alone explains why the sale is drawing immediate attention today. It tops the roughly $10 billion figure attached to Walter’s purchase from the Buss family last year, and it would reset the market for one of the NBA’s most prominent teams if the transaction closes as described.
Kushner is best known as the founder and leader of Thrive Capital, while Iger has become a familiar figure in team ownership after taking control of Angel City FC in 2024 with Willow Bay. Both men were also involved in the expansion process in Las Vegas before pivoting to the Lakers, a move that suggests a shift from a possible future project to one of the league’s most recognizable franchises. Iger was succeeded this year as Disney’s CEO by Josh D'Amaro.
Walter said owning the Lakers had been one of the great honors of his life, calling it an extraordinary investment and thanking Jeanie Buss, the Buss family, the players and the staff for welcoming him into the chapter. He added that the Lakers belong to Los Angeles and said he had every confidence the best is still ahead. That makes the speed of the change especially striking: a team he described in personal terms is now on its way to new owners almost as soon as he took control.
For Kushner and Iger, the public language around the bid has been all about stewardship and continuity. They said they have immense respect for Jerry and Jeanie Buss and that their long-term commitment is to build on that foundation, compete at the highest level, and serve the team, its fans and the city of Los Angeles. What remains unresolved is how the purchase will be financed and what approvals still have to fall into place before a deal of this size can move from reported agreement to finished ownership transfer.
The sale also widens the reach of two buyers who already sit inside a dense network of sports and business interests. Kushner runs Thrive Capital and is the co-founder and vice chairman of Oscar Health. Walter and TWG Global have interests in the Los Angeles Dodgers, the Los Angeles Sparks, Chelsea and the Professional Women's Hockey League, and through TWG Motorsports he owns several auto racing teams, including Cadillac Formula 1. Walter is also under federal scrutiny tied to alleged tax fraud, with parallel SEC and Manhattan investigations examining other companies linked to him.
If the reported price holds, the Lakers will not just change hands. They will reset the ceiling for what one of the NBA’s signature teams is worth, and the next question is no longer whether the market will notice, but whether anyone can top it.
