The Los Angeles Lakers, one of the most storied franchises in NBA history, are being sold for a staggering $12 billion to former Walt Disney CEO Bob Iger and venture capitalist Josh Kushner. This marks the second ownership change for the team in less than a year, highlighting the increasing interest and valuation surrounding sports franchises and their associated media rights.
The deal comes as financier Mark Walter, who previously acquired an 85% controlling interest in the Lakers from the Buss family for around $10 billion, sells his stake. Walter, along with his partners, had already owned a 27% minority share prior to this recent transaction. The rapid escalation in the team's valuation underscores the lucrative nature of owning a major sports team in today's market.
According to Forbes, the Lakers currently generate annual revenues of approximately $551 million, with a significant portion, around $185 million, coming from their local cable and streaming partner, Spectrum SportsNet. This revenue stream is crucial for the franchise, as it reflects the team's strong local fan engagement and its ability to capitalize on media rights.
In addition to local broadcasting revenue, the Lakers also benefit from their share of national television deals, which include major networks such as ABC/ESPN, NBC/Peacock, and Amazon Prime Video, contributing around $110 million annually. These figures illustrate the financial power of the Lakers, not only as a team but as a brand that attracts significant media attention and advertising revenue.
The sponsorship landscape for the Lakers is also thriving, with a reported 15% increase in sponsorship revenue for the 2025-2026 NBA season, according to SponsorUnited. The total sponsorship revenue across the NBA reached $1.8 billion, spread across 2,452 deals, showcasing the growing commercial appeal of the league.
The Lakers rank among the top five NBA teams in terms of rapid growth in sponsorship revenue, trailing only the New York Knicks, Cleveland Cavaliers, and Phoenix Suns. Notably, the team's arena naming rights deal with Crypto.com, valued at an estimated $35 million over 20 years, exemplifies the high stakes involved in sports marketing. Furthermore, the Lakers have secured a lucrative jersey patch partnership with the South Korean food brand Bibigo, valued at $20 million per year, which is set to be replaced by an even larger deal with the personal finance app Albert, valued at over $30 million for the 2026-2027 season.
This sale not only reflects the financial prowess of the Lakers but also indicates the growing trend of investment in sports franchises, as they continue to be seen as valuable assets in the entertainment landscape. As the NBA continues to expand its global reach and revenue streams, the Lakers' new ownership under Iger and Kushner will be closely watched as they steer the franchise into its next chapter.
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