Iger and Kushner to Buy Lakers for Record $12.5 Billion

The Los Angeles Lakers are being sold to former Disney CEO Bob Iger and venture capitalist Josh Kushner for a record-breaking $12.5 billion, marking the second major ownership change for the storied NBA franchise in less than a year. The deal, announced on August 12, 2026, was confirmed by the buyers in a joint statement and reported by multiple outlets, including ESPN. It requires approval from the NBA's Board of Governors to become final.

The transaction sees billionaire Mark Walter sell his controlling interest just 10 months after the NBA approved his purchase from the Buss family in October 2025. Walter had acquired the team in a deal that valued the Lakers at $10 billion. The new agreement represents a $2.5 billion increase in valuation in a very short period, setting a new benchmark as the highest price ever paid for a professional sports franchise.

In their statement, Iger and Kushner emphasized their long-term commitment. "As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world," they said. "We have immense respect for the leadership and vision of Jerry and Jeanie...