Another change of ownership is on the horizon for the Los Angeles Lakers. Just about ten months after Mark Walter’s takeover, Josh Kushner and Bob Iger are set to take over the franchise. The purchase price is off the charts.
As ESPN insider Ramona Shelburne reports, citing multiple sources, the Lakers are being sold to Kushner and Iger for more than $12 billion. This would set a new record price for a sports franchise. The two entrepreneurs were originally looking to acquire a potential NBA expansion team in Las Vegas, but they fundamentally changed their plans and presented Walter with an aggressive offer for the Lakers.
The timing of the deal, in particular, is striking. Walter had only acquired a majority stake in the Lakers from the Buss family in October 2025, following unanimous approval by the NBA Board of Governors. This brought an end to the family’s nearly five-decade-long control over one of the most famous organizations in world sports.
Walter is CEO and Chairman of the holding company TWG Global and owns or controls stakes in numerous sports organizations. These include, among others, the Los Angeles Dodgers of MLB, the Los Angeles Sparks of the WNBA, as well as, through other holdings, the Premier League club Chelsea FC and several motorsports teams.
Iger and Kushner Actually Wanted an NBA Team in Las Vegas
It’s no coincidence that Kushner and Iger have ended up in the NBA business. As recently as late June, it was reported that the duo had hired investment bankers and were working on a bid for a potential expansion team in Las Vegas.
Iger brings decades of experience from the entertainment industry. The longtime Disney CEO is also familiar with the NBA business through ESPN and, together with his wife Willow Bay, has already invested in the soccer club Angel City FC. Kushner is also active in the U.S. sports business.
New Lakers owners speak out
Kushner and Iger spoke to ESPN about the planned deal. As lifelong NBA fans, they said it is a great honor to take on responsibility for one of the most iconic franchises in the world of sports. At the same time, the two paid tribute to the work of Jerry and Jeanie Buss. In the long term, they said they want to build on the foundation that has been laid, compete for titles at the highest level, and serve the team, its fans, and the city of Los Angeles.
