The Los Angeles Lakers are on the verge of another historic ownership change, with former Disney chief executive Bob Iger and venture capitalist Josh Kushner reportedly agreeing to acquire the NBA franchise for approximately $12.5 billion.
If approved, the transaction would establish a new record for the most expensive sale of a professional sports franchise in North America. It would also mark the second consecutive year in which the Lakers have set a new benchmark for franchise value.
The reported agreement comes just over a year after billionaire Mark Walter acquired a controlling interest in the Lakers from the Buss family in a deal that valued the franchise at around $10 billion.
A Stunning Second Sale in Just Over a Year
The Lakers' ownership transition has moved at an extraordinary pace.
Walter's purchase of the team was approved by the NBA's board of governors in October 2025, ending more than four decades of Buss family ownership. Now, only months later, Walter is reportedly preparing to sell the franchise to a new ownership group led by Iger and Kushner.
The proposed $12.5 billion valuation would represent a significant increase from the $10 billion valuation attached to Walter's purchase.
It would also put the Lakers well ahead of the previous record for a professional sports franchise sale.
The agreement still requires approval from the NBA's board of governors. The league's next board meeting is expected to take place in September, meaning the transaction is not yet officially complete.
Iger and Kushner's Vision for the Lakers
Iger and Kushner said they are honored by the opportunity to take control of one of the most recognizable franchises in global sports.
In a statement, the prospective owners emphasized their respect for the Buss family's legacy and said their objective would be to build on the foundation already established in Los Angeles.
They also made clear that they intend to keep the Lakers competing for championships while maintaining a strong connection with the team's supporters and the city of Los Angeles.
The partnership brings together two highly prominent figures from the worlds of entertainment, technology, venture capital and professional sports.
Who Is Josh Kushner?
Josh Kushner is the founder of Thrive Capital, a major venture capital firm that has invested in numerous high-profile technology companies.
He is also a co-founder of Oscar Health and has previously held ownership interests in professional basketball teams.
Kushner has a minority stake in the Miami Heat, but that investment would reportedly have to be sold as part of the process of completing the Lakers acquisition.
He previously held a minority interest in the Memphis Grizzlies.
Kushner is also known for his family connection to Jared Kushner, who is married to President Donald Trump's daughter Ivanka Trump. Despite the family's political prominence, Josh Kushner has built his professional career primarily through technology, venture capital and business investments.
His involvement in the Lakers would give him an even larger presence in the American sports industry.
Bob Iger Returns to the Sports Spotlight
For Bob Iger, the Lakers acquisition represents another major step into professional sports ownership following his long career at Disney.
Iger served as Disney's chief executive during two separate periods and played a central role in some of the company's biggest corporate expansions, including acquisitions involving Pixar, Marvel, Lucasfilm and 21st Century Fox.
He also oversaw Disney's broader sports business, including ESPN and its extensive relationship with the NBA.
Iger left the Disney CEO position earlier in 2026, with Josh D'Amaro taking over the role.
However, Iger's involvement in professional sports has continued. He and his wife, Willow Bay, previously became controlling owners of Angel City FC, a team in the National Women's Soccer League.
The Lakers would represent an entirely different scale of investment.
The Lakers' Record-Breaking Value
The reported $12.5 billion purchase price would make the Lakers the most expensive professional sports franchise ever sold.
The franchise previously established the record in 2025 when Walter's acquisition valued the team at approximately $10 billion.
Other major professional sports transactions remain considerably below the Lakers' new valuation.
The Boston Celtics were sold at a valuation of roughly $6.1 billion in 2025, while the Washington Commanders changed ownership for approximately $6.05 billion in 2023.
The Seattle Seahawks were reportedly valued at around $9.6 billion in a 2026 transaction.
The latest Lakers agreement therefore highlights the extraordinary growth in the value of elite American sports franchises.
Luka Dončić Welcomes the Potential New Owners
The ownership change comes during an important period for the Lakers on the basketball court.
Slovenian superstar Luka Dončić has emerged as the central figure of the franchise following LeBron James' departure from Los Angeles.
Dončić reacted positively to news of the proposed sale, saying that representing the Lakers means a great deal to him and expressing his desire to work with Iger and Kushner.
The star guard also emphasized his ambition to compete for another championship in Los Angeles.
His comments could be particularly significant as the Lakers begin a new era both on and off the court.
LeBron James' Departure Adds to the Transition
The proposed ownership deal comes shortly after the Lakers moved into another major phase of their basketball history.
LeBron James, the NBA's all-time leading scorer and one of the most influential players in franchise history, left the Lakers during the offseason and joined the Philadelphia 76ers.
That departure left Dončić as the centerpiece of the Lakers' future.
The combination of a new ownership group, a new era without James and a franchise built around Dončić could make the upcoming seasons especially important for Los Angeles.
Mark Walter Will Retain His Other Sports Assets
Walter's reported Lakers sale does not mean he is leaving the sports industry.
The billionaire remains heavily involved in professional sports through TWG Global and other investments.
His portfolio includes the Los Angeles Dodgers, the Los Angeles Sparks, Premier League club Chelsea, and interests in women's professional hockey and motorsports.
The Dodgers, in particular, are not expected to be part of the Lakers transaction.
Walter described his time with the Lakers as a major honor and thanked the Buss family, players, employees and fans for welcoming him during his brief period as majority owner.
He also expressed confidence in the future of the franchise.
Questions Surround Walter's Business Empire
The Lakers transaction also comes amid scrutiny surrounding Walter's broader business operations.
Reports have indicated that U.S. federal authorities and the Securities and Exchange Commission are examining insurance companies connected to Walter.
The investigations reportedly involve questions surrounding financial arrangements and the relationship between certain insurance assets and other businesses connected to Walter.
Walter has denied wrongdoing.
The reported investigations are separate from the proposed Lakers sale and do not mean that the transaction itself has been found to involve misconduct.
The FIFA Connection
Kushner's emergence as a potential Lakers owner comes only weeks after he became involved in a controversial proposal connected to FIFA.
His investment organization, Thrive Eternal, had been linked to a plan involving outside investment in FIFA's commercial operations and World Cup-related businesses.
The proposal faced significant opposition from European football officials and attracted widespread attention within the international soccer community.
FIFA subsequently stepped away from the proposed structure following the backlash.
Although the FIFA proposal did not proceed as initially planned, Kushner's involvement demonstrated the growing scale of his ambitions in the global sports business.
A New Era for One of Basketball's Biggest Brands
The Lakers are much more than a basketball team.
With 17 NBA championships, a global fan base and decades of history involving legendary players such as Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant and LeBron James, the franchise is one of the most valuable brands in professional sports.
The reported $12.5 billion agreement reflects that global status.
For Iger and Kushner, the challenge will now be turning an enormous financial investment into long-term success on the court.
For Lakers fans, the biggest question is simple: can the new ownership group help bring another championship to Los Angeles?
The answer will ultimately depend on what happens after the deal receives NBA approval and the new ownership era officially begins.
For now, the Lakers are preparing for another major transition — and one that could reshape the franchise for years to come.