Culture & Media
Josh Kushner and Bob Iger agree to buy the Lakers for $12.5 billion
The agreement would set another record for a U.S. professional sports franchise, less than a year after Walter took control of the team at a $10 billion valuation.
Executive summary
- The agreement: Josh Kushner and Bob Iger have agreed to buy the Los Angeles Lakers from Mark Walter in a transaction valued at $12.5 billion.ESPNAssociated PressAxios
- The status: The transaction is not final and still requires approval from the NBA Board of Governors, a process that can take several weeks.ESPNAssociated PressAxios
- The record: The price would be the highest reported for a U.S. professional sports franchise, topping the $10 billion valuation attached to Walter's purchase of Lakers control in 2025.ESPNAssociated PressNBA
- The ownership plan: Axios reported that Kushner would serve as control owner, with Iger investing individually and their Thrive Eternal platform expected to hold a minority stake subject to NBA limits.Axios
Josh Kushner and Bob Iger have reached an agreement to buy the Los Angeles Lakers from Mark Walter for $12.5 billion, setting up the second ownership change for the franchise in less than a year. The transaction has not closed and still needs approval from the NBA Board of Governors.ESPNAssociated PressAxios
ESPN first reported the agreement, which the Associated Press and Axios independently confirmed. AP reported that the league approval process can take several weeks and that the board's next meeting is scheduled for September in New York.ESPNAssociated PressAxios
Walter acquired majority control of the Lakers from the Buss family in October 2025 after the NBA unanimously approved that transaction at a reported $10 billion franchise valuation. The proposed $12.5 billion sale to Kushner and Iger would surpass that mark and become the largest reported sale price for a U.S. professional sports team.NBAESPNAssociated Press
Kushner and Iger had been pursuing an NBA expansion franchise in Las Vegas before turning to the Lakers. Axios reported that Kushner would be the control owner, that Iger would invest individually and that Thrive Eternal, their sports investment platform, is expected to participate within the league's limit on institutional stakes.ESPNAssociated PressAxios
Kushner founded venture-capital firm Thrive Capital and previously held minority interests in the Miami Heat and Memphis Grizzlies. Iger recently ended his second tenure as Disney chief executive and, with his wife Willow Bay, is the controlling owner of the NWSL's Angel City FC.ESPNAxios
In statements reported by ESPN and Axios, Kushner and Iger said they intend to build on the Lakers' existing foundation and compete at the highest level. Walter described his period as owner as an honor and said he remained confident in the franchise's future. Neither statement changes the transaction's current status as an agreement awaiting league approval.ESPNAxios