Los Angeles Lakers sold for record-setting $12 billion, reports say

Digital Editor

LOS ANGELES —

The Los Angeles Lakers are being sold for a record-breaking $12 billion valuation, according to numerous reports.

American businessmen Josh Kushner and Bob Iger will buy the franchise from Mark Walter, who only became controlling owner of the team in 2025.

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In a joint statement by Kushner and Iger released to ESPN, the pair reportedly state, “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. 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.”

Kushner is an American venture capitalist and entrepreneur who founded the venture capital firm Thrive Capital and co-founded the health insurance company Oscar Health. He is also the younger brother of Jared Kushner, President Donald Trump’s son-in-law.

Iger is one of the best-known executives in the entertainment business, best known for leading the Walt Disney Company.

Walter famously became the managing owner of the Lakers last October, purchasing a controlling interest in the team from the Buss family for $10 billion.

Jerry Buss purchased the Lakers in 1979, and the Buss family controlled the franchise for the next 46 years.