The Los Angeles Lakers, one of the most storied franchises in NBA history, are officially under new ownership following a record-breaking deal valued at over $12 billion. This monumental transaction was reported on August 12, 2025, and involves prominent figures Josh Kushner and Bob Iger, who have agreed to take over the iconic team from Mark Walter.
This sale is particularly notable as it comes less than a year after Walter acquired a majority stake in the Lakers from the Buss family, who had maintained ownership of the team for several decades. The NBA Board of Governors gave its unanimous approval for Walter’s sale in October 2025, paving the way for this latest transaction.
Kushner, a 41-year-old entrepreneur and founder of investment firm Thrive Capital, is known for his strategic business moves. He is also the younger brother of Jared Kushner, who served as a senior advisor to former President Donald Trump. Meanwhile, Bob Iger, 75, has been a prominent figure in the entertainment industry, having led The Walt Disney Company for many years. His involvement in the Lakers signifies a significant crossover between sports and entertainment.
Prior to this unexpected bid for the Lakers, both Kushner and Iger had been focused on the prospect of establishing an NBA expansion team in Las Vegas. Their decision to pursue the Lakers instead marks a strategic pivot that underscores the franchise's immense value and cultural significance in the sports world.
The reported purchase price not only sets a new record for the Lakers but also marks the highest amount ever paid for a professional sports franchise. This sale reflects the growing financial power and marketability of NBA teams, particularly those with a rich history like the Lakers.
Mark Walter, the outgoing owner, is the CEO and chairman of TWG Global and has a diverse portfolio that includes ownership stakes in various sports teams, such as the Los Angeles Dodgers and the Los Angeles Sparks. His involvement in multiple sports ventures highlights the interconnected nature of professional sports ownership in the current landscape.
The Lakers, based in Los Angeles, California, have a storied history filled with championships and legendary players. This new ownership era under Kushner and Iger is anticipated to bring fresh perspectives and potential changes to the franchise as they look to build on the team's legacy.
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