Key Takeaways
- The Los Angeles Lakers have a pending $12.5 billion sale to Josh Kushner and Bob Iger, subject to NBA approval.
- This transaction would surpass the previous record set by Mark Walter’s $10 billion purchase from the Buss family less than a year ago.
- Uncertainty remains regarding how the Buss family's role and Jeanie Buss’ position as governor will change with this ownership transfer.
The Los Angeles Lakers are preparing for another ownership change, and the price attached to the latest deal would set a new benchmark for American professional sports.
On Wednesday (Aug. 12), The Associated Press reported that businessmen Josh Kushner and Bob Iger have agreed to purchase the Lakers in a deal valued at $12.5 billion. The agreement still requires approval from the NBA Board of Governors, a process that could take several weeks.
“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,” the two expressed in a statement to NBC News. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
The reported valuation would surpass the record the Lakers themselves established less than a year ago. In October 2025, the NBA unanimously approved Mark Walter’s acquisition of a majority interest in the franchise at a $10 billion valuation. Walter took control from the Buss family, which held the majority stake since Dr. Jerry Buss purchased the team in 1979.
Under that deal, the Buss family retained an ongoing interest in the organization, while Jeanie Buss was set to remain the Lakers’ governor for at least five years. The league has not yet announced how those arrangements would be affected by the proposed Kushner-Iger transaction.
Josh Kushner and Bob Iger eyed Las Vegas before LA Lakers deal
The Lakers deal marks a shift from the pair’s previously reported NBA plans. In June, the Los Angeles Times reported that Kushner and Iger hired investment bankers and discussed pursuing a majority stake in a potential Las Vegas expansion franchise through Thrive Eternal, an investment vehicle created by Kushner’s Thrive Capital.
Kushner founded Thrive Capital and already owns a minority stake in the Miami Heat, which Axios reported he would have to sell if the Lakers transaction is approved. Iger, who stepped down as Disney CEO earlier this year, also invested in sports through Angel City FC alongside his wife, Willow Bay.
The NBA’s next Board of Governors meeting is scheduled for September in New York.