NBA Blockbuster: Lakers Empire Sold for Jaw-Dropping $12.5 Billion

The Los Angeles Lakers franchise has recently undergone a record-breaking ownership change, with businessmen Josh Kushner and Bob Iger acquiring the team for an unprecedented $12.5 billion, multiple sources told ESPN. This stunning transaction occurred less than ten months after Mark Walter, CEO and chair of diversified holding company TWG Global, had purchased a controlling interest in the Lakers from the Buss family in October 2025 for a then-record franchise valuation of approximately $10 billion. The swift deal, which came together in just three days, surprised many within the league, prompting questions about its structure and implications.

Josh Kushner, 41, co-founder and vice chairman of Oscar Health and founder of venture capital firm Thrive Capital, and Bob Iger, 75, former Disney CEO, expressed deep honor at becoming stewards of one of the world's most iconic sports franchises. In a joint statement, they conveyed immense respect for the leadership and vision of Jerry and Jeanie Buss, pledging a long-term commitment to build on the existing foundation, compete at the highest level, and serve the team, its fans, and the city of Los Angeles. Iger's established relationship with NBA Commissioner Adam Silver, cultivated through years of collaboration on television rights deals and their partnership in restarting the 2019-20 season with a "bubble" hosted on Disney properties, is noted to be advantageous for the deal's eventual approval by the NBA's board of governors. The approval process can take several weeks, with the next board meeting set for September in New York.

Mark Walter, whose TWG Global group had owned 26% of the team since 2021 before acquiring the majority stake, released a statement acknowledging the honor of owning the Lakers and expressing gratitude. His brief tenure, however, has been described by sources as "unremarkable," characterized by rising season-ticket prices, employee layoffs, and only one playoff series win. Walter made an extraordinary profit of $2.5 billion in just 14 months from the time he agreed to purchase the team in June 2025 to its sale this week. Speculation surrounding the unusually quick sale strongly points to the ongoing federal investigation into Walter's company, TWG Global. Bloomberg and The Wall Street Journal reported that U.S. prosecutors in Manhattan and the Securities and Exchange Commission (SEC) are examining whether Delaware Life Insurance Co. and Clear Spring Life and Annuity Co., two insurers controlled by Walter, failed to disclose that their private credit holdings backed other Walter-controlled ventures. This probe, which Walter has been aware of since at least September, with an electronic device already seized, suggests that liquidating his prize asset might have been a motivating factor beyond just the lucrative offer, as one prominent NBA agent remarked, "you didn't own the Lakers! You rented them. You made a great business decision."

The leadership structure of the Lakers is expected to see some continuity under the new ownership. Iger stated in an interview with the California Post that Jeanie Buss would remain in her post for now, honoring the agreement made between Walter and Buss. He added a conditional note, "If things change, they'll change, but we're going into this with enormous respect and appreciation for who she is and what she represents." This statement also bodes well for General Manager Rob Pelinka, who signed a multiyear extension in 2025, although some agents express curiosity about how the situation will unfold over the next six months. The new owners might also evaluate the roles of several Dodgers front office members who had worked closely with Pelinka under Walter's ownership.

Luka Doncic, the Lakers' franchise cornerstone following LeBron James's departure last month to eventually sign with the Philadelphia 76ers, shared his excitement on social media. Doncic, who was not consulted about the sale but plans a videoconference with Kushner and Iger next week from Slovenia, posted on X (dated August 12, 2026) that "Being a Laker means everything to me, and I'm excited to get back on the court and bring a championship to LA." Sources close to Doncic emphasize his adaptability to ownership changes, having experienced five different team owners during his career, including his former team, the Dallas Mavericks, and the Lakers' recent shifts from Buss to Walter, and now to Iger and Kushner. For players, the primary concern remains the provision of resources to win, which this record valuation implicitly supports, further enhancing the Lakers brand's value, and by extension, Doncic's business dealings as the face of the franchise.

Interestingly, Kushner and Iger were initially pursuing ownership of a future NBA expansion franchise in Las Vegas, one of two cities (alongside Seattle) expected to join the league, when the Lakers opportunity prompted a swift pivot. Iger noted that the deal for the Lakers came together in just three days after it was suggested that Walter might be interested in selling. The NBA is prioritizing a Las Vegas sale to set a premium franchise fee precedent, and while there are still groups vying for the Vegas bid, approval at the next board meeting is uncertain regarding the fee price. Furthermore, several sources suggest that NBA Europe, a 16-team league slated for an October 2027 launch, is a bigger priority for Commissioner Silver and many owners, indicating a potentially long wait for any expansion beyond current teams.

Ultimately, this record $12.5 billion sale underscores the robust health and increasing value of NBA franchises as assets. Despite Walter's brief and "unremarkable" ownership period, his transaction served as a bridge to a new ownership group with deep ties to the league. The continuous growth of the NBA's business, coupled with improved product quality and parity, fuels significant interest in the sport, which is now vividly reflected in these unprecedented team valuations, beneficial for all current NBA owners.