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Josh Kushner and Bob Iger are reportedly set to purchase the Los Angeles Lakers for $12.5 billion, a stunning price that would establish a new record for a professional sports franchise. Multiple sources told ESPN about the proposed transaction on Aug. 12, 2026.
The reported sale marks a dramatic shift in the Lakers’ ownership story. Kushner and Iger had been involved in the expansion process in Las Vegas, but they changed direction and made an aggressive offer for one of the most recognizable teams in global sports.
Josh Kushner Leads Historic Lakers Ownership Move
The deal would see Kushner and Iger acquire the Lakers from Mark Walter, who purchased a controlling interest in the team from the Buss family last year. Walter’s transaction valued the franchise at approximately $10 billion, which was then considered a record valuation.
A $12.5 billion purchase price would surpass that mark and reinforce the Lakers’ position as one of the most valuable sports properties in the world. The franchise’s appeal extends well beyond the basketball court, with a powerful brand, a global fan base and deep connections to the entertainment capital of the United States.
In a statement, Kushner and Iger described the opportunity as a tremendous honor. They said they are lifelong NBA fans and expressed their intention to serve as stewards of the Lakers while building on the foundation established by Jerry and Jeanie Buss.
The prospective buyers also emphasized ambition. Their statement said they want the team to compete at the highest level, a message likely to resonate with supporters who expect championship contention from the Lakers every season.
Record Price Reflects Lakers’ Global Power
The reported transaction is notable not only because of its size, but also because of the people involved. Kushner is the founder and leader of Thrive Capital, a venture capital firm, and serves as co-founder and vice chairman of Oscar Health.
At 41, Kushner brings a technology and investment background to the ownership group. His involvement could create fresh interest in the way the Lakers approach business operations, media, sponsorships and long-term growth.
Iger, 75, adds decades of experience in entertainment and global media. He served two terms as Disney’s chief executive before Josh D’Amaro succeeded him this year. Iger also became the controlling owner of NWSL club Angel City FC alongside Willow Bay in 2024.
That combination of finance, technology, entertainment and sports could give the new ownership group a distinctive profile. It also places two highly influential business figures at the center of one of the NBA’s most visible organizations.
Mark Walter Selling Lakers Interest Amid Wider Sports Portfolio
Walter became the Lakers’ majority owner last October after his bid was unanimously approved by the NBA. Through TWG Global, he has interests in several professional sports organizations, including the Los Angeles Dodgers, Los Angeles Sparks, Premier League club Chelsea and the Professional Women’s Hockey League.
Walter also owns multiple racing teams through TWG Motorsports, including Cadillac Formula 1. Despite that broad sports portfolio, sources told ESPN that he is selling only the Lakers in this transaction.
In his statement, Walter reflected on his time with the franchise and praised the fans, players, staff and city. He said owning the Lakers had been one of the great honors of his life and expressed confidence that the team’s best years remain ahead.
Walter’s departure comes as he faces scrutiny connected to other companies under his control. Bloomberg reported in July that federal prosecutors in Manhattan are examining whether Delaware Life Insurance Co. and Clear Spring Life and Annuity Co. failed to disclose that private credit holdings backed other Walter-controlled ventures. The Securities and Exchange Commission is reportedly conducting a parallel investigation.
Those investigations concern Walter’s insurance-related businesses and were not described by ESPN as a direct issue with the Lakers sale. The reported ownership change would still require the appropriate NBA process before completion.
What the Lakers Sale Means for Los Angeles
For Lakers supporters, the biggest question will be whether the ownership transition changes the team’s competitive direction. Ownership decisions can influence executive leadership, spending priorities, arena operations, player development and the franchise’s broader identity.
The Lakers remain one of basketball’s defining brands, with a history shaped by legends, championships and enormous media attention. A record-setting sale could increase expectations for investment and success, particularly if the new owners seek to make an immediate impression.
- Sale price: $12.5 billion, according to multiple sources cited by ESPN.
- Reported buyers: Josh Kushner and Bob Iger.
- Current seller: Mark Walter, who became majority owner last year.
- Previous valuation: Approximately $10 billion in Walter’s purchase from the Buss family.
- Next step: The transaction must move through the NBA’s approval process.
The reported sale also highlights the growing value of major sports franchises. As media rights, sponsorships, live events and international audiences expand, iconic teams are increasingly viewed as premium global assets.
Frequently Asked Questions
Who is buying the Los Angeles Lakers?
Josh Kushner and Bob Iger are reportedly buying the Lakers from Mark Walter for $12.5 billion, according to multiple sources cited by ESPN.
How much are the Lakers being sold for?
The reported purchase price is $12.5 billion. If completed, it would set a new record valuation for a professional sports franchise.
Who currently owns the Lakers?
Mark Walter became the team’s majority owner last October after purchasing a controlling interest from the Buss family. He is reportedly selling only the Lakers.
Will the sale change the Lakers immediately?
Not necessarily. The transaction must proceed through the NBA approval process, and any changes to leadership, strategy or basketball operations would be determined after the ownership transition.
