LA Lakers Sale: Josh Kushner and Bog Iger Reportedly Buys NBA Franchise For USD 12.5 Billion
The iconic Los Angeles Lakers are reportedly being sold for a record $12.5 billion. A group led by venture capitalist Josh Kushner, 41, and former Disney CEO Bob Iger, 75, is acquiring the franchise, with the deal reported on August 12, 2026.
In a seismic shift for the world of professional sports, the Los Angeles Lakers are reportedly being sold to a partnership fronted by venture capitalist Josh Kushner and former Disney chief Bob Iger for a staggering $12.5 billion. The blockbuster deal, first reported on Wednesday, August 12, 2026, by ESPN, marks a rapid turnaround in ownership for one of the NBA's most storied franchises, setting a new benchmark for sports team valuations. The acquisition sees Kushner, 41, and Iger, 75, take the reins from billionaire Mark Walter, who himself purchased a controlling interest in the Lakers from the Buss family just last year for $10 billion. Will Former NBA players Enes Kanter Freedom and Royce White Play in WNBA?.
LA Lakers Sold
A Rapid Succession of Ownership
Mark Walter, also known for his ownership of the MLB's Los Angeles Dodgers, acquired the Lakers in June 2025 in a deal that was, at the time, a record for a U.S. professional sports team. Less than a year later, the franchise is once again at the center of a monumental transaction. Sources close to the deal indicate that Kushner and Iger, who had previously explored opportunities to acquire an NBA expansion team in Las Vegas, pivoted swiftly to make an aggressive offer for the Lakers.
In a joint statement, the prospective new owners expressed their profound respect for the Lakers' legacy and their commitment to future success. "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," Kushner and Iger said. "We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."
Jeanie Buss, daughter of late owner Jerry Buss, remains the team's governor despite the recent ownership changes. WNBA Transgender Eligibility Rules Explained: Enes Kanter, Royce White, and the 2027 Draft Controversy.
Key Figures in the Deal
| Individual | Role | Estimated Net Worth (as of Aug 12, 2026) |
|---|---|---|
| Josh Kushner | Co-lead buyer, Thrive Capital Founder | $5.2 billion |
| Bob Iger | Co-lead buyer, Former Disney CEO | N/A (Significant business executive) |
| Mark Walter | Seller, Guggenheim Partners CEO | $13.3 billion |
What Comes Next?
The reported sale, which dwarfs previous valuations, underscores the skyrocketing value of NBA franchises. The deal now awaits approval from the NBA's Board of Governors, a process that typically takes several weeks. The next board meeting is anticipated to take place next month in New York, where the historic transaction will be reviewed.
The Los Angeles Lakers, a franchise boasting 17 NBA championships, continues to be a global brand powerhouse, consistently ranking among the league's most valuable teams. The new ownership group's stated intent to "compete at the highest level" will undoubtedly excite the passionate Lakers fanbase, who will be eagerly anticipating the future direction of the team under Kushner and Iger's stewardship.
(The above story first appeared on LatestLY on Aug 12, 2026 09:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).