The Los Angeles Lakers have been sold for a record-breaking $12 billion, marking the second sale of the historic NBA franchise in as many years. American businessmen Josh Kushner and Bob Iger are the new principal owners, acquiring the team from Mark Walter, who had purchased a controlling interest in 2025.
The deal, first reported by ESPN and confirmed by Walter, eclipses the $10 billion price Walter paid for the franchise, netting him a significant profit. It also more than doubles the $6 billion sale price of the rival Boston Celtics in 2025.
Former Lakers star Magic Johnson expressed optimism about the new ownership group, stating on X, "Laker fans, you couldn’t have two better owners. I’ve known Bob personally for over 40 years - he has always loved the Lakers and basketball and he will bring championships back to LA."
Current Lakers player Luka Doncic also shared his excitement, saying, "Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA. I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise. I look forward to meeting Josh and Bob so we can get to work building something special in LA together."
Mark Walter, who is currently under SEC investigation over $16 billion in private-credit loans, released a statement expressing gratitude for his time as owner. "Owning the Los Angeles Lakers has been one of the great honors of my life - an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family," Walter wrote. "I am grateful to [former team owner] Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead."
Jeanie Buss, the former controlling owner and team governor, reacted to Walter's statement with "Perfectly said."
Josh Kushner, 41, previously co-founded Thrive Capital and Oscar Health. He was also part of an investor group that explored acquiring stakes in the World Cup from FIFA, a proposal that was later abandoned. Kushner is the younger brother of Jared Kushner, a former advisor to President Donald Trump.
Bob Iger recently concluded his second tenure as CEO of Disney, a company with established ties to the NBA through ESPN and other properties. Iger and his wife Willow Bay also hold controlling ownership of Angel City FC, a National Women's Soccer League team based in Los Angeles.
Kushner and Iger jointly stated, "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."
The agreement is subject to league approval. NBA Commissioner Adam Silver is a known associate of the Kushner family and was observed with Kushner and Iger at the 2025 US Open in New York.
