LA Lakers Sold for Record $12.5bn Deal

Sun Sep 06 2026 03:58:45 GMT+0000 (Coordinated Universal Time)

The Los Angeles Lakers are changing hands for $12.5bn as Josh Kushner and Bob Iger acquire the iconic franchise, rewriting ownership history.

The Los Angeles Lakers have been sold for a reported $12.5bn (about £9.3bn) by Josh Kushner and former Disney chief Bob Iger. The sale follows Mark Walter’s recent acquisition of the majority stake for a $10bn deal. With the purchase, the Lakers will be led by owners who are celebrated NBA veterans, while respecting the legacy of former owners Jerry and Jeanie Buss. The deal supersedes a $12bn bid by the multi‑sport media conglomerate Fox, which was previously under consideration by the United Nations. The Lakers remain one of the most iconic sports franchises, boasting 17 NBA titles. The transaction is expected to accelerate plans for new contracts and development of modern facilities across the city.

The Los Angeles Lakers are to be sold for a record-breaking $12.5bn (about £9.3bn) after Mark Walter took a majority stake in the franchise less than a year ago.

In a move that could shift the balance of power in the NBA, Josh Kushner – brother of former U.S. president’s son‑in‑law – and Disney chief executive Bob Iger cornered the controlling interest in one of the world’s most recognizable sports teams.

Walter’s previous purchase of a stake valued at an estimated $10bn (around £7.45bn) from the Buss family set a new record for NBA ownership. That deal had garnered unanimous approval from the NBA Board of Governors in October 2025.

“As lifelong NBA fans, we are deeply honoured to become stewards of the Los Angeles Lakers,” said Kushner and Iger in a joint statement. “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.”

Jerry Buss first bought the Lakers in 1979 in a $67.5m deal, which also included the Los Angeles Kings and the Kia Forum arena. After his death in 2013, the team passed to his six children in a trust before Walter secured the majority stake with investor Todd Boehly, who also holds shares in the LA Dodgers.

Walter, who expressed his pride in owning the Lakers, highlighted the community, fans and city that “treat the team as family”. He lauded Jerry and Jeanie Buss, players and staff for welcoming him into the franchise’s future.

With 17 NBA titles, the Lakers still trail the Celtics’ 18 championships. The sale comes amid discussions where Kushner’s firm, Thrive Eternal, had previously eyed a stake in FIFA, adding to a high‑profile profile.

As ownership changes hands, fan expectations are high for fresh talent, renewed rivalries and modernised facilities, all while preserving the legacy of an iconic franchise that has defined the NBA for decades.