
Venture capitalist Joshua Kushner and former Walt Disney Company CEO Bob Iger have agreed to purchase the Los Angeles Lakers for $12.5 billion, according to sources familiar with the deal . The agreement, confirmed by multiple outlets on Wednesday, marks the second sale of the NBA franchise in approximately 14 months.
The Lakers were previously sold to billionaire Mark Walter in 2025 for $10 billion, a deal approved by the NBA’s board of governors in October of that year . Walter, who also owns Major League Baseball’s Los Angeles Dodgers, remains under federal scrutiny for financial ties between his insurers and affiliates .
Iger and Kushner issued a joint statement, saying, “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” .
The sale requires approval from the NBA’s board of governors, with the next meeting scheduled for September in New York . The $12.5 billion valuation surpasses the previous record set by Walter’s purchase last year and the 2025 sale of the Boston Celtics for $6.1 billion .
Lakers legend Earvin “Magic” Johnson praised the deal on social media, stating, “Laker fans, you couldn’t have two better owners. I’ve known Bob personally for over 40 years — he has always loved the Lakers and basketball and he will bring championships back to LA” . Iger, 75, previously oversaw Disney’s sports network ESPN and its multibillion-dollar NBA broadcast deals .
Jeanie Buss, daughter of the late Jerry Buss, retained her role as team president after Walter’s purchase, but her future position under the new ownership remains unclear . The deal also ends Iger and Kushner’s reported efforts to secure an NBA expansion team in Las Vegas .
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