The Los Angeles Lakers have been sold to a group led by Josh Kushner and Bob Iger for $12.5 billion, marking the highest price ever paid for a professional sports team [1, 2, 3, 4, 5]. The deal surprised many in the NBA, having been struck swiftly over a single weekend between August 12 and 13 [1, 4]. News of the sale broke publicly on August 13 [1, 2, 3, 4, 5].
The previous majority owner, Mark Walter, bought a 71% stake in the Lakers less than a year ago, in October 2025, for $10 billion [1, 2, 4, 5]. Depending on sources, Walter earned an estimated profit of between $2.5 billion and $3 billion from the sale [1, 2]. Walter said owning the Lakers was "one of the great honours" of his life and called the franchise an "extraordinary investment" [1].
The Lakers were valued at $10 billion as recently as June 2025 before Walter’s purchase, underscoring the rapid appreciation in value within two years [1, 2, 4]. The $12.5 billion price surpasses the Boston Celtics' $6.1 billion sale and the Phoenix Suns' $4 billion deal, setting a new benchmark for NBA franchise sales [1, 3, 5].
Neither Walter nor those close to the deal have offered a clear public reason for the sudden sale, and Walter was not actively seeking to sell [1]. An anonymous NBA agent called the transaction a "curveball" to insiders [4].
Josh Kushner, part of the purchasing group, is the younger brother of Jared Kushner, who served as a senior advisor to former President Donald Trump [1, 2]. Bob Iger, the former CEO of The Walt Disney Company, has a longstanding relationship with NBA commissioner Adam Silver [1, 4].
NBA approval is required before the sale can be finalized and officially take effect [1, 4]. Jeanie Buss, tied to the former ownership family, said on behalf of Lakers fans she is "beyond excited about what our future has in store" [4].
