Los Angeles Lakers reach $12.5 billion deal
The Los Angeles Lakers reached a reported $12.5 billion sale agreement with Joshua Kushner and Bob Iger on August 12, 2026. The valuation would set a record for a United States professional sports franchise.
The proposed purchase follows Mark Walter’s $10 billion acquisition of the Lakers’ controlling stake in 2025. The new transaction still requires NBA Board of Governors approval and completion of due diligence.
Mark Walter’s Lakers tenure stays brief
Mark Walter became the Lakers’ controlling owner after the NBA approved his purchase on October 30, 2025. The agreement valued the franchise at $10 billion and ended decades of Buss family control.
Walter had owned a 27% minority stake since 2021 before gaining control. The Buss family retained an ongoing ownership interest, keeping a direct connection to the franchise after the 2025 transaction.
Lakers valuation rises another 25%
The proposed $12.5 billion transaction exceeds Walter’s 2025 Lakers valuation by $2.5 billion. That difference represents a 25% increase over the $10 billion figure associated with the previous controlling ownership agreement.
The latest price also exceeds Boston’s $6.1 billion sale of the Celtics, and Seattle’s reported $9.612 billion Seahawks agreement. If completed, the Lakers’ transaction would establish a new United States professional sports sale record.
Joshua Kushner brings NBA ownership experience
Joshua Kushner founded Thrive Capital and has prior NBA ownership experience. He holds a minority stake in the Miami Heat and previously owned an interest in the Memphis Grizzlies before pursuing the Lakers.
Kushner and Iger had explored pursuing a possible NBA expansion franchise in Las Vegas. Their Lakers agreement offers a path to ownership of an existing franchise, subject to due diligence and league approval.
Bob Iger adds sports ownership experience
Bob Iger led Disney as CEO during two separate periods, beginning in 2005 and returning to the position in 2022. He stepped down as CEO on March 18, 2026, but remains a senior adviser and Disney board member through the end of 2026.
Iger and his wife, Willow Bay, acquired control of Angel City FC in a 2024 transaction valued at $250 million. Bay serves as the team’s controlling owner for NWSL purposes.
Lakers bring 17 championships to deal
The Lakers have won 17 NBA championships across their Minneapolis and Los Angeles history. That total ranks second to Boston’s 18 titles and spans multiple eras of the franchise.
The Lakers have reached the NBA Finals 32 times and have made 66 playoff appearances through the 2025-26 season. Those totals place Los Angeles among the most accomplished franchises in NBA history.
Jerry Buss shaped Lakers ownership
Jerry Buss purchased the Lakers in 1979 and remained the owner until his death in 2013. During his 33 seasons, Los Angeles reached the NBA Finals 16 times and won 10 championships under his ownership.
The Buss family retained an ownership interest after Mark Walter acquired control in 2025, and Jeanie Buss was guaranteed a role as team governor for at least five years. Bob Iger has since said that he and Joshua Kushner intend to honor that agreement under their proposed ownership.
NBA approval remains the next step
The proposed Lakers transaction requires approval from the NBA Board of Governors. The board’s next scheduled meeting is in September 2026, and league approval can take several weeks before a sale closes.
Kushner and Iger, therefore, remain prospective buyers. Walter remains the controlling owner while the $12.5 billion agreement awaits due diligence, league approval, and completion of the formal ownership transfer process.
Fun fact: The Lakers kept their watery nickname after leaving Minnesota, the “Land of 10,000 Lakes,” for much drier Los Angeles in 1960.
Luka Dončić anchors a changing roster
The Lakers acquired Luka Dončić from Dallas in 2025 and later signed him to a three-year, $165 million contract extension. Dončić earned his sixth NBA All-Star selection in 2026, further establishing him as the centerpiece of Los Angeles’ future.
LeBron James left the Lakers after eight seasons and signed with the Philadelphia 76ers in July 2026. His departure created another major roster change as the franchise moved toward a new ownership agreement.
Lakers expand analytics leadership
The Lakers made front-office changes during Walter’s controlling tenure, including additions focused on analytics and strategy. Those moves came as the organization adjusted its basketball operations during the 2026 offseason.
Los Angeles hired Rohan Ramadas as assistant general manager in May 2026. His responsibilities include overseeing basketball analytics and strategic initiatives within the Lakers’ front office and broader basketball operations.
NBA franchise sale prices keep rising
NBA franchise sale prices have risen quickly. Charlotte changed control at a $3 billion valuation in 2023, while Boston’s 2025 transaction reached about $6.1 billion before the Lakers moved even higher.
Walter’s $10 billion Lakers purchase established a new professional sports benchmark in 2025. The Kushner and Iger agreement would raise that record by another $2.5 billion if the transaction ultimately closes.
Magic Johnson supports proposed buyers
Magic Johnson publicly supported the proposed buyers after the agreement became known. The Lakers legend has known Iger for more than 40 years and described Iger and Kushner as strong potential stewards.
Iger and Kushner said their long-term commitment is to build on the foundation created by Jerry and Jeanie Buss. They also emphasized competing at the highest level and serving Los Angeles.
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Lakers face a second ownership change
The Lakers reached two controlling ownership agreements within about 14 months. The Buss family agreed to sell control to Walter in June 2025, followed by the Kushner and Iger agreement in August 2026.
The latest transaction is reported to have a valuation of $12.5 billion. Completion remains subject to due diligence and NBA Board of Governors approval before Kushner and Iger can assume control of the franchise.
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Would a $12.5 billion ownership change strengthen the Lakers’ future, or has the franchise changed hands too quickly? Share your thoughts in the comments below!
This slideshow was made with AI assistance and human editing.
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