Lakers Sold To Former Disney CEO Bob Iger & Josh Kushner, Jared’s Brother, For Record $12.5 Billion

The Los Angeles Lakers are being sold to former Disney CEO Bob Iger and Thrive Capital co-founder Josh Kushner for more than $12.5 billion, a record price for a professional sports franchise. The deal comes just 14 months after billionaire Mark Walter bought a controlling stake in the team from the Buss family at a then-record $10 billion valuation.

Kushner and Iger, who is also an adviser at Thrive Capital, approached Walter with an aggressive offer on Sunday, and the deal came together quickly. The pair had previously been involved in NBA expansion discussions tied to Las Vegas before pivoting to pursue the Lakers instead.

“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers,” Iger and Kushner said in a joint statement, adding that their “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.”

Walter Nets $2.5 Billion Profit

Walter, who purchased the team from the Buss family in 2025, is set to walk away with a roughly $2.5 billion profit after owning the franchise for just over a year. “Owning the Los Angeles Lakers has been one of the great honors of my life,” Walter said in a statement, thanking Jeanie Buss, the Buss family, players and staff. “The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”

The sale comes as Walter and Guggenheim Partners face an investigation from the U.S. Attorney’s Office in Manhattan and the Securities and Exchange Commission over potential insurance fraud, though it’s unclear whether that scrutiny factored into his decision to sell.

A Franchise in Transition

The ownership change lands during a turbulent offseason for the Lakers, who lost superstar LeBron James in free agency after eight seasons when he signed with the Philadelphia 76ers. The team still features Luka Dončić as its cornerstone as it heads into a new ownership era under Iger and Kushner.