One of the most recognizable and successful franchises in global sports, the Los Angeles Lakers of the National Basketball Association (NBA), has changed hands again in less than 12 months, with a new ownership group paying a staggering $12.5 billion – a new world record for the most expensive sports team sale in history.
The buyers are Josh Kushner, brother of Jared Kushner, the son-in-law of former U.S. President Donald Trump, and Bob Iger, the highly respected former chief executive officer of entertainment giant The Walt Disney Company. The pair will acquire controlling interest in the franchise, just 10 months after current majority owner Mark Walter purchased his controlling stake from the legendary Buss family.
Walter’s October 2025 acquisition, which was unanimously approved by the NBA Board of Governors, was itself a record-breaking deal at the time, valued at an estimated $10 billion. Now, just months later, the franchise value has surged dramatically to hit the new $12.5 billion mark.
In a joint public statement released following the announcement of the deal, Kushner and Iger emphasized their long-standing connection to the league and the franchise. “As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” the statement read. The pair went on to acknowledge the legacy of the Buss family, which owned the team for more than four decades, saying “We have immense respect for the leadership and vision of Jerry and Jeanie Buss.” Outlining their plans for the future, they added: “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 Buss family’s decades-long ownership of the Lakers dates back to 1979, when Jerry Buss purchased the franchise for just $67.5 million – a deal that also included the Los Angeles Kings NHL hockey team and the Kia Forum arena in Inglewood. After Jerry Buss passed away in 2013, ownership was held in a trust for his six children, before the 2025 sale to Walter that ended the family’s direct control. Walter, who also holds a stake in Major League Baseball’s Los Angeles Dodgers alongside sports investor Todd Boehly, expressed his gratitude for his brief tenure leading the franchise.
“Owning the Los Angeles Lakers has been one of the great honours of my life,” Walter said in his own statement. “It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
The Lakers are one of the most decorated teams in NBA history, holding 17 championship titles – just one behind the all-time record of 18 held by the Boston Celtics. The franchise has been through notable off-court and on-court changes in recent months. This summer, the team lost LeBron James, the all-time leading scorer in NBA history, who left at age 41 to join the Philadelphia 76ers. In his place, Slovenian superstar Luka Doncic, who was acquired via trade from the Dallas Mavericks in February 2025, has stepped into the role as the team’s franchise cornerstone.
Doncic, who is already positioned as the face of the franchise, expressed optimism about the new ownership group in a social media statement. “Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Doncic wrote. “I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise. I look forward to meeting Josh and Bob so we can get to work building something special in LA together.”
The sale does come with a layer of existing controversy around co-buyer Josh Kushner. Kushner was recently embroiled in public debate surrounding a failed plan led by FIFA president Gianni Infantino to sell private stakes in the governing body’s major global tournaments. Kushner’s U.S.-based venture capital firm Thrive Eternal was tapped to lead the investor group for the aborted FIFA Forward Enterprise proposal, a project that drew widespread criticism from football governance advocates before it was scrapped.