Lakers Sell for Record $12.5 Billion to Iger-Kushner Group

The Los Angeles Lakers have been sold again, and the number that comes with the transaction is worth reading twice.

Former Disney CEO Bob Iger and venture capitalist Josh Kushner are buying the franchise for $12.5 billion, multiple sources confirmed to ESPN on August 13. That's a record for a U.S. professional sports team, and the ink on the last ownership deal isn't even dry.

Here's the part that stops you cold: according to CBS Sports, Mark Walter, the Dodgers owner who bought a controlling stake in the Lakers from the Buss family, had that deal approved by the NBA on October 30, 2025. He held that stake for less than a year before Kushner and Iger came in with an offer he apparently couldn't refuse. As reported by CBS Sports, Walter spent less than a year as majority owner before selling at a new record price of $12.5 billion.

Walter bought in at a $10 billion valuation. He's walking away at $12.5 billion. Whatever you think about sports franchise economics, the man did not lose money on this.

Why the quick flip? ESPN reported that Kushner and Iger were originally in the mix for a Las Vegas expansion franchise but pivoted hard and made an aggressive offer directly to Lakers ownership. According to CNN, the whole thing came together in just the past few days. That's not a long negotiation. That's someone deciding they want the most famous team in basketball and writing a check.

The shadow over the seller matters too. ESPN also reported that Walter is under federal investigation for alleged tax fraud tied to two insurance companies he controls, with U.S. prosecutors in Manhattan and the SEC both running parallel inquiries. Walter hasn't been charged with anything. But that context helps explain why a seller might want liquidity, and quickly.

On the buyers: Kushner, 41, founded Thrive Capital and is a minority owner of the Miami Heat, per NBC News. Iger stepped down from Disney earlier this year and had taken an advisory role at Thrive, according to Variety. These two already had a professional relationship before they decided to go buy a basketball team together.

Now for the part that makes this more than a real estate transaction with a hardwood floor: LeBron James is gone. He left for the Philadelphia 76ers in July on a two-year, $8 million deal, per NBC News, which is essentially a minimum contract for a 41-year-old who wants a ring before he's done. The face of the franchise for eight seasons walked out the door, and Kushner and Iger bought anyway, for $12.5 billion.

That tells you something about what they're buying. It's not a roster. It's a brand, a market, a logo, and 17 championships. According to CNN, the Lakers last won the title in the 2019-20 season, so the product on the floor has some catching up to do.

Luka Doncic is the player they're building around now. He averaged 33.5 points per game last season, per NBC News, and has publicly said he wants to build something special with the new ownership. Magic Johnson posted on social media that Iger has loved the Lakers for 40 years and will bring championships back. Magic has been wrong before, but he's also been right more than most.

The deal still needs NBA Board of Governors approval, per CNN. That's typically a formality for buyers with this kind of financial standing, but it's not done until it's done.

One number to sit with: the Boston Celtics, who won the title in 2024, sold for $6.1 billion in 2025, per CBS Sports. The Lakers just went for more than twice that. The business of this league and the market logic behind it have clearly separated from anything that can be explained by wins and losses alone. Front offices have known that for a while. The rest of us are catching up.

Sources cited:
- ESPN (https://www.espn.com/nba/story/_/id/49590362/josh-kushner-bob-iger-buy-lakers-12b)
- NBC News (https://www.nbcnews.com/sports/nba/los-angeles-lakers-sold-bob-iger-josh-kushner-12-billion-rcna592121)
- Variety (https://variety.com/2026/biz/news/bob-iger-buys-lakers-1236833010/)
- CBS Sports (https://www.cbssports.com/nba/news/lakers-sold-josh-kushner-bob-iger/)
- CNN (https://www.cnn.com/2026/08/12/business/la-lakers-iger-josh-kushner-12-billion)