The Los Angeles Lakers, one of the NBA’s marquee franchises, are being sold to former Disney CEO Bob Iger and U.S. businessman Josh Kushner for $12.5 billion, according to a published report.
ESPN, citing anonymous sources, said that the businessmen were involved in the process to bring an expansion team to Las Vegas, but decided to make an aggressive offer for a majority stake in the Lakers franchise. The team has won 17 NBA titles overall and 12 since moving to Southern California from Minneapolis before the 1960-61 season.
The proposed sale comes 14 months after Mark Walter bought the franchise for a franchise-record $10 billion from the Buss family, The Athletic reported.
The Lakers are being sold to American businessman Josh Kushner and Bob Iger for over $12 billion, a record-breaking price, multiple sources told @ramonashelburne. pic.twitter.com/gzVzAM2muD
— ESPN (@espn) August 12, 2026
Kushner owns a minority stake in the Miami Heat and is the younger brother of Jared Kushner, the son-in-law of President Donald Trump, according to the sports news outlet.
“As lifelong NBA fans, we are deeply honored 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,” Kushner and Iger said in a statement. “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, 66, who is the CEO and chairman of TWG Global, bought a majority stake in the Lakers in June 2025. The NBA unanimously approved the sale four months later.
“Owning the Los Angeles Lakers has been one of the great honors of my life -- an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said in a statement, according to ESPN. “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.”
Walter and TWG Global have interests in multiple professional sports organizations, ESPN reported. They include the Los Angeles Dodgers, Los Angeles Sparks, Premier League club Chelsea and the Professional Women’s Hockey League.
Through TWG Motorsports, Walter owns several auto racing teams, including Cadillac Formula 1.
Walter is selling only the Lakers in the deal announced on Wednesday, sources told ESPN.
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