The Los Angeles Lakers are set to be sold for a reported record $12.5 billion (£9.3 billion), less than a year after Mark Walter acquired a majority stake in the NBA franchise.
Josh Kushner, the brother of US President Donald Trump’s son-in-law Jared Kushner, and former Disney chief executive Bob Iger are set to acquire the controlling interest in the iconic basketball franchise.
The reported valuation would make the transaction the most expensive sale of a sports franchise, surpassing Walter’s estimated $10 billion purchase from the Buss family in 2025.
Kushner and Iger said they were honoured to take over the franchise and pledged a long-term commitment to building on the Lakers’ legacy.
“As lifelong NBA fans, we are deeply honoured 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.”
Walter acquired his stake from the Buss family in a deal unanimously approved by the NBA Board of Governors in October 2025.
Jerry Buss originally bought the Lakers in 1979 for $67.5 million (£50 million), in a deal that also included the Los Angeles Kings hockey team and the Los Angeles arena now known as the Kia Forum.
Following Buss’ death in 2013, ownership passed to his six children through a trust before the family reached the agreement with Walter.
Walter, who also owns a stake in the Los Angeles Dodgers alongside Todd Boehly, said his ownership of the Lakers had been one of the greatest honours of his life.
“Owning the Los Angeles Lakers has been one of the great honors of my life,” Walter said.
“It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
The Lakers are one of the NBA’s most successful franchises, having won 17 championships, one fewer than the record 18 held by the Boston Celtics.
The proposed takeover also comes amid renewed attention on Kushner’s business interests in sport. His venture capital firm, Thrive Capital, was expected to lead an investor group linked to a proposed plan involving FIFA’s commercial competitions.
Kushner’s involvement in that proposal drew attention following controversy surrounding FIFA president Gianni Infantino and the eventual abandonment of the plan.
The Lakers are also entering a new sporting era following the departure of LeBron James, the NBA’s all-time leading scorer, who joined the Philadelphia 76ers at the age of 41.
His departure leaves Luka Doncic, who joined the Lakers from the Dallas Mavericks in February 2025, as the team’s leading star.
Doncic welcomed the proposed ownership change and expressed his ambition to help deliver another championship to Los Angeles.
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Doncic said.
“I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise.
“I look forward to meeting Josh and Bob so we can get to work building something special in LA together.”
Erizia Rubyjeana
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