Kushner and Iger agree to buy Los Angeles Lakers for record $12 to $12.5 billion from Mark Walter

Record sale

The Los Angeles Lakers are set to change hands for the second time in roughly a year, with investors Josh Kushner and Bob Iger agreeing to purchase the NBA franchise from Mark Walter for approximately $12 to $12.5 billion, ESPN reported on 12 August 2026. BBC and Diário de Notícias cited the figure at $12.5 billion, while Reuters, Deutsche Welle, eldiario.es and LaVanguardia reported "more than $12 billion" or "around $12 billion." The deal would set a record for an NBA franchise sale and for any sports franchise in North America.

Walter acquired his majority stake from the Buss family less than a year ago in a deal valued at approximately $10 billion, with the NBA Board of Governors unanimously approving the purchase in October 2025. He had held a 21% stake in the Lakers since 2021 with right of first refusal on any sale offer, which he exercised last year to take control from the Buss family, owners of the franchise since 1979.

The buyers

Josh Kushner is the founder of venture capital firm Thrive Capital and the brother of Jared Kushner, son-in-law of US President Donald Trump. Bob Iger, 75, is the former chief executive of The Walt Disney Company, the media conglomerate that owns ESPN, the network reporting the deal. Iger advises Kushner on long-term investments tied to iconic brands and cultural assets, including sports franchises. This is Iger's second venture into professional sports; in 2024 he purchased, together with his wife, journalist Willow Bay, the Los Angeles franchise in the women's soccer league.

Kushner and Iger issued a statement published by ESPN.

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.

The seller and the Buss legacy

Mark Walter is the CEO and president of investment firm TWG Global and co-owner of the Los Angeles Dodgers and English football club Chelsea. He said it has been an honour to be part of the Lakers. Two companies linked to Walter are currently under federal investigation, according to Diário de Notícias and LaVanguardia, though neither outlet specified the nature of the probe. Walter has not explained his reasons for selling the franchise.

Jerry Buss purchased the Lakers in 1979 for $67.5 million in a package that also included the NHL's Los Angeles Kings and the former Los Angeles Forum arena. Upon his death in 2013, the franchise passed to his six children, with Jeanie Buss becoming controlling owner in 2017. Jeanie Buss retained her role as team governor even after the sale to Walter last year, but her future role under the new ownership is unclear.

NBA franchise valuations

The Lakers sale dwarfs the previous NBA record of $6.1 billion, set when the Boston Celtics were sold in 2025. Walter's own purchase of the Lakers for $10 billion last year had already broken that mark. The franchise, home to legends such as Kareem Abdul-Jabbar, Earvin "Magic" Johnson, Kobe Bryant and Shaquille O'Neal, is one of the most recognised sports brands globally.