Los Angeles Lakers sold to Bob Iger, Josh Kushner for $12 billion

The Los Angeles Lakers are being sold to an ownership group led by Josh Kushner and Bob Iger, the businessmen confirmed to NBC News on Wednesday.

The deal for the storied franchise had a $12.5 billion price tag, two people familiar with the matter said.

“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,” they said.

“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.”

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The Lakers were previously sold to businessman Mark Walter in October 2025 for a valuation of approximately $10 billion.

“Owning the Los Angeles Lakers has been one of the great honors of my life,” Walter said in a 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 iconic franchises in sports with 17 championships, most recently in 2020. Last season, the team finished fourth in the Western Conference before being eliminated by the Oklahoma City Thunder in the semifinals.

NBA superstar LeBron James, the all-time leading scorer in the league, played eight seasons in Los Angeles. He announced in July he was leaving to join the Philadelphia 76ers on a two-year, two-year, $8 million contract. The team will now be led by six-time NBA All-Star Luka Dončić, who was No. 1 the league with 33.5 points per game last season.

Kushner is the founder of venture firm Thrive Capital, co-founder of Oscar Health and a minority owner of the NBA’s Miami Heat. FIFA wanted to sell a minority stake in the World Cup to Thrive Capital, but the plan was halted amid worldwide backlash from soccer leaders in Europe, North America and Asia.

Kushner is the younger brother of Jared Kushner, President Donald Trump’s son-in-law.

Iger is an American media executive who was CEO of the Walt Disney Co. from 2005 to 2020 and from 2022 to 2026. Iger and his wife, Willow Bay, are the majority owners of Angel City FC, a National Women’s Soccer League franchise based in Los Angeles. Their controlling stake was purchased in 2024 at a $250 million valuation.

Walter is the CEO of Guggenheim Partners, a global investment and advisory firm, and CEO and co-chairman of holding company TWG Global. He is the majority owner of MLB’s Los Angeles Dodgers and WNBA’s Los Angeles Sparks. Walter and Guggenheim Partners are being investigated by the U.S. Attorney’s Office in Manhattan and the Securities and Exchange Commission for potential insurance fraud , according to multiple reports.