LOS ANGELES \u2014 The Buss family owned the Lakers for 46 years.<\/p>\n
Now, in less than two years, the franchise has been sold twice in record-breaking fashion.<\/p>\n
Former Disney CEO Bob Iger and Joshua Kushner, a businessman and the founder of Thrive Capital, a venture capital firm, are reportedly purchasing the Lakers at a $12.5 billion valuation, ESPN first reported the sale agreement and the Southern California News Group confirmed it Wednesday morning.<\/p>\n
The sale, the largest of any in professional sports history, still will need approval from the NBA\u2019s board of governors, and that process can take several weeks. The next board meeting is set for next month in New York.<\/p>\n
The $12.5 billion price tag is $2.5 billion higher than the $10 billion valuation attached to Mark Walter\u2019s purchase of a majority stake in the Lakers from the Buss family in 2025. Walter, who also owns the Dodgers, agreed to that deal in June before it was approved by the NBA in October. Jeanie Buss remains the franchise\u2019s governor for the time being, a role the NBA said she would hold for at least five years after the sale to Walter closed.<\/p>\n
According to ESPN<\/a>, the deal came together quickly, with Walter, the current primary owner, being approached about selling the Lakers on Sunday. Iger and Kushner had been involved in trying to get an expansion team for Las Vegas, and now would co-own the largest brand in the NBA.<\/p>\n The $12.5 billion price tag is not only record-setting for U.S. pro sports, but it continues a trend of NBA franchise values skyrocketing. Only three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets for a $3 billion valuation, and the Boston Celtics were sold last year at a valuation of just over $6 billion, then a record.<\/p>\n Walter\u2019s purchase of a controlling stake in the Lakers<\/a> in June 2025 blew that away, and now Iger, 75, and Kushner, 41, have pushed the bar even higher.<\/p>\n \u201cAs 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,\u201d Kushner and Iger said in a statement to ESPN. \u201cWe 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.\u201d<\/p>\n Kushner is the younger brother of Jared Kushner, the husband of Ivanka Trump and the son-in-law of President Donald J. Trump. Joshua Kushner currently has a minority stake in the Miami Heat and recently bought a minority stake in MLB\u2019s San Francisco Giants through his firm. Iger, along with his wife Willow Bay, who is the dean of the USC Annenberg School for Communication and Journalism, owns Angel City FC, the National Women\u2019s Soccer League team in Los Angeles. Angel City plays at BMO Stadium, not far from Crypto.com Arena, home of the Lakers.<\/p>\n Iger closed his chapter as Disney CEO earlier this year, succeeded by Josh D\u2019Amaro. Recently, Kushner\u2019s firm attempted to broker a deal to buy minority stakes from FIFA to run the World Cups in the future. After plenty of public backlash, FIFA president Gianni Infantino reneged on the idea.<\/p>\n \u201cI want to congratulate my good friend Bob Iger and Josh Kushner on their purchase of the Los Angeles Lakers!\u201d Magic Johnson wrote on social media Wednesday morning. \u201cLaker fans, you couldn\u2019t have two better owners. I\u2019ve known Bob personally for over 40 years. He has always loved the Lakers and basketball and he will bring championships back to LA.\u201d<\/p>\n Luka Doncic, who committed to the Lakers last offseason by signing a three-year, $165 million contract extension<\/a>, released a statement on social media noting the atmospheric changes around the franchise since he landed in L.A. in a blockbuster trade with the Dallas Mavericks<\/a>.<\/p>\n \u201cBeing a Laker means everything to me, and I\u2019m excited to get back on the court and bring a championship to LA,\u201d Doncic wrote. \u201cI\u2019ve 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.\u201d<\/p>\n Jeanie Buss, whose father Jerry Buss owned the Lakers from 1979 until his death in 2013, reposted Doncic\u2019s statement with two words.<\/p>\n \u201cPerfectly said,\u201d Jeanie Buss wrote.<\/p>\n Iger told the California Post<\/a>, the relatively new West Coast edition of the New York Post, that he plans on sticking to the understanding that Jeanie Buss stays on as Lakers governor. Iger added that he spoke with both Jeanie Buss and Lakers coach JJ Redick. Iger has been a longtime Clippers season tickets holder, often seen sitting alongside Clippers owner Steve Ballmer at games and expressing his fandom for the team in interviews.<\/p>\n Walter had \u2018Dodger-fied\u2019 the Lakers in his short term as their owner.<\/p>\n He brought in President of Business Operations Lon Rosen \u2013 former chief marketing officer and executive vice president of the Dodgers \u2013 to replace longtime team executive Tim Harris. Across the business side of the Lakers, the team continued to bring in new employees with familiarity with how the Dodgers were run.<\/p>\n Over the past six months, the Lakers announced they had moved their in-house G League franchise to the Coachella Valley. They announced new sponsorships with Daiso (for a patch on the Laker Girls uniforms) and with a personal finance app, Albert, for a new patch on the Lakers\u2019 uniforms, replacing Bibigo.<\/p>\n On the basketball side, Dodgers president of baseball operations Andrew Friedman and Dodgers special advisor Farhan Zaidi were helping out Lakers president of basketball operations Rob Pelinka.<\/p>\n Walter\u2019s ownership group expressed interest in expanding the front office, sources familiar with the team have told SCNG, bolstering the team similarly to how the Dodgers have been run during their impressive past decade in MLB.<\/p>\n Walter has been under investigation by the U.S. Attorney\u2019s Office for the Southern District of New York and the Securities and Exchange Commission for his handling of his insurance companies, according to reporting from the Wall Street Journal<\/a> in recent months. Bloomberg reported Wednesday that Walter\u2019s firm, TWG Global<\/a>, is speaking with investors to help pay down loans attached to his insurance companies and that the sale of the Lakers will \u201caccelerate TWG\u2019s effort.\u201d<\/p>\n \u201cOwning the Los Angeles Lakers has been one of the great honors of my life \u2013 an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,\u201d Walter said in a statement to ESPN. \u201cI 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.\u201d<\/p>\n Neither the Sparks nor the Dodgers are expected to be impacted in this deal.<\/p>\n It\u2019s the Lakers who have been sold, stunningly once more, adding an unexpected chapter to the franchise.<\/p>\n The Associated Press contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"LOS ANGELES \u2014 The Buss family owned the Lakers for 46 years. 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