Josh Kushner and Bob Iger reportedly buying Los Angeles Lakers for $12.5 billion

Businessmen Josh Kushner and Bob Iger have agreed to purchase the Los Angeles Lakers for a record-breaking $12.5 billion. The deal comes just ten months after billionaire Mark Walter acquired control of the franchise for $10 billion. Walter's sudden exit coincides with federal and SEC investigations into his businesses for potential tax fraud. The transaction, which requires NBA board approval, transitions the storied franchise to new stewards following the departure of LeBron James and ahead of a new era led by Slovenian superstar Luka Dončić.

Lakers sale to Kushner, Iger

• ▪Businessmen Josh Kushner and Bob Iger have agreed to purchase the Los Angeles Lakers in a deal valuing the NBA franchise at $12.5 billion.
• ▪The sale of the Los Angeles Lakers to Josh Kushner and Bob Iger requires approval from the NBA's board of governors, which next meets in September 2026.

Record $12.5 billion valuation

• ▪The $12.5 billion valuation surpasses the previous NBA record set when the Boston Celtics were sold in 2025 at a valuation of just over $6 billion.
• ▪The $12.5 billion valuation of the Los Angeles Lakers represents a record-breaking price for a North American professional sports franchise.

Mark Walter's brief ownership

• ▪Mark Walter's purchase of the controlling stake in the Los Angeles Lakers from the Buss family in 2025 valued the franchise at $10 billion.
• ▪Billionaire Mark Walter agreed to sell his controlling stake in the Los Angeles Lakers just 10 months after NBA owners approved his purchase in October 2025.

Federal investigation of Walter

• ▪Mark Walter, who serves as the CEO of holding company TWG Global, has denied any wrongdoing regarding the federal tax fraud allegations.
• ▪Mark Walter is currently under federal investigation by prosecutors and the Securities and Exchange Commission for potential tax fraud involving his insurance businesses.

Buyer backgrounds, Las Vegas plans

• ▪Josh Kushner, the younger brother of Jared Kushner, is a venture capitalist who owns a minority stake in the Miami Heat and previously owned a stake in the Memphis Grizzlies.
• ▪Bob Iger, the former CEO of the Walt Disney Company, became a controlling owner of the NWSL team Angel City FC in 2024 alongside his wife Willow Bay.
• ▪Josh Kushner and Bob Iger had previously been working together on a proposal to secure a potential NBA expansion franchise for Las Vegas.

Lakers roster featuring Dončić

• ▪The Los Angeles Lakers roster is currently led by Slovenian superstar Luka Dončić, who is signed with the franchise through the 2028-29 season.
• ▪The sale of the Los Angeles Lakers comes shortly after the NBA's all-time leading scorer, LeBron James, departed the team to sign with the Philadelphia 76ers.

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