Josh Kushner and Bob Iger acquire controlling interest in the iconic franchise, making it the most expensive sports team sale ever recorded.
The National Basketball Association (NBA) world is reeling from a stunning announcement: the Los Angeles Lakers, one of basketball's most iconic teams, have been sold for an unprecedented $12.5 billion. This record-shattering deal was agreed upon with astonishing speed, finalized over a single weekend.
News of the colossal transaction broke on Wednesday, revealing that Josh Kushner, brother of Donald Trump's son-in-law Jared Kushner, and former Disney chief executive Bob Iger are the new controlling owners. Their swift move has sent shockwaves through the sports industry, instantly becoming a benchmark for team valuations globally.
This historic LA Lakers sale not only redefines sports franchise worth but also marks a rapid and significant profit for the previous owner, Mark Walter. The quick execution of the deal has amplified the surprise and discussion among NBA executives, insiders, and fans alike, according to reporting by BBC Sport - Basketball.
A Weekend Deal That Broke Records and Stunned the NBA
The speed at which the LA Lakers sale unfolded is arguably as surprising as its price tag. Josh Kushner initiated contact with Mark Walter only last Friday regarding his majority stake, which Walter had purchased just last year. The parties then worked tirelessly through the weekend to iron out an agreement, culminating in the $12.5 billion valuation.
If formally approved by the NBA's board of governors, this transaction will officially stand as the most expensive sports team sale ever reported. Mark Walter, who was not actively seeking to sell, stands to make an estimated $2.5 billion profit on his investment in less than a year. The rapid agreement compounded the surprise, especially given the Lakers were valued at $10 billion in June 2025, itself a record at the time.
Who Are the New Lakers Owners? The Kushner-Iger Partnership
The new controlling owners bring significant experience and influence. Josh Kushner is the founder of Thrive Eternal, an American venture capital firm. His firm had previously been linked to a proposed investor group for the Fifa Forward Enterprise (FFE) before that plan was abandoned, confirming his interest in major sports investments.
Joining Kushner is Bob Iger, a highly respected figure known for his long and successful tenure as chief executive of Disney. Both individuals enter the Lakers organization at a pivotal time. Basketball legend Earvin 'Magic' Johnson, a five-time NBA champion with the Lakers, publicly endorsed the deal, stating on social media, "Lakers fans, you couldn't have two better owners. He [Bob Iger] has always loved the Lakers and basketball and he will bring championships back to LA."
How This Sale Compares to Other Major Sports Deals
The $12.5 billion LA Lakers sale significantly surpasses previous sports team valuations and sales, firmly establishing a new record. It is more than double the Lakers' own valuation when Mark Walter first bought his stake in 2025. The deal also vastly exceeds the $6.1 billion valuation of the Boston Celtics when their controlling stake changed hands last year.
To put it into further perspective, the Lakers' new value is more than three times the $4 billion for which the Phoenix Suns were sold to Mat Ishbia in 2023. Furthermore, it outstrips the $9.6 billion sale of the NFL's Seattle Seahawks just last month. Even compared to elite global football clubs, the Lakers deal stands out: Todd Boehly's consortium paid £2.5 billion (around $5.7 billion) for Chelsea in 2022, and while Manchester United's Glazer family reportedly sought £10 billion ($13.5 billion), that was an asking price, not a completed transaction like the Lakers' definitive sale.
Magic Johnson Backs Transition as Lakers Face New Era
The arrival of Kushner and Iger comes as the Lakers are undergoing a significant transition. The team has not secured an NBA title since 2020, when LeBron James and Anthony Davis led them to their 17th championship. With James confirming his departure at the end of June, Luka Doncic is now positioned as the team's leading star.
Doncic, who is preparing to work under his fifth different owner across just two NBA teams, acknowledged the changes. He wrote on social media, "I've gotten used to big changes over these last few years," adding that he looked forward to "building something special in LA together." This new ownership brings both excitement and a degree of uncertainty regarding the franchise's operational future, but the backing of figures like Magic Johnson signals optimism for Lakers fans.
Frequently Asked Questions
Who bought the LA Lakers?
The Los Angeles Lakers' controlling interest was acquired by a partnership between Josh Kushner, founder of Thrive Eternal, and Bob Iger, the former chief executive of Disney.
How much were the LA Lakers sold for?
The LA Lakers were sold for a record-breaking $12.5 billion, making it the most expensive sports team sale ever reported.
What makes the LA Lakers sale record-breaking?
The $12.5 billion valuation surpasses all previous sports team sales and valuations, including the Boston Celtics ($6.1 billion) and the NFL's Seattle Seahawks ($9.6 billion), setting a new benchmark in the global sports market.
What is the future outlook for the LA Lakers under new ownership?
The new ownership, backed by basketball legend Magic Johnson, is expected to aim for bringing championships back to Los Angeles. The team is currently in transition with Luka Doncic leading the roster following LeBron James' confirmed departure, signaling a new era for the franchise.