Bob Iger and Josh Kushner to buy Los Angeles Lakers for record $12 billion deal; check details

The Los Angeles Lakers are set to change hands in a landmark transaction that has sent shockwaves through the sports world. American businessmen Josh Kushner and Bob Iger have agreed to purchase the iconic NBA franchise for more than $12 billion. The price tag shatters previous records and highlights the soaring value of elite sports teams in major markets.

This move marks a dramatic shift for Kushner and Iger. Both had been linked to the NBA’s expansion efforts in Las Vegas. Instead of pursuing a new franchise there, they redirected their focus and submitted a bold offer for the Lakers. The sellers are Mark Walter and his group, who only recently took majority control of the team.

Record valuation reflects Los Angeles Lakers’ global appeal

Mark Walter acquired a controlling interest in the Los Angeles Lakers from the Buss family last year. At the time, the franchise was valued at around $10 billion, itself a record. The jump to over $12 billion in such a short period highlights intense demand for one of basketball’s most recognizable brands. The Los Angeles Lakers’ history, passionate fan base, and location continue to drive extraordinary interest from high-profile buyers.

Walter, who serves as CEO and chairman of TWG Global, received unanimous approval from the NBA when he completed his purchase last October. His ownership period, though brief, connected the team to a broader portfolio of sports assets.

New owners pledge continuity and ambition

In a joint statement to ESPN, the incoming owners expressed deep appreciation for the franchise’s legacy.

"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. We have immense respect for the leadership and vision of Jerry and Jeanie Buss," Kushner and Iger said in a statement. "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."

Mark Walter reflects on short but meaningful tenure

Mark Walter also released a statement looking back on his time with the team.

"Owning the Los Angeles Lakers has been one of the great honors of my life, 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," Walter said in a statement.

Beyond the Lakers, Walter and TWG Global maintain ownership stakes in several other professional sports entities. These include the Los Angeles Dodgers, the Los Angeles Sparks, Premier League club Chelsea, and the Professional Women’s Hockey League. Through TWG Motorsports, Walter also owns multiple auto racing teams, among them Cadillac’s Formula 1 operation.

What the sale means going forward

The transaction positions the Lakers under new leadership at a pivotal moment. Fans will watch closely to see how Kushner and Iger approach roster building, arena experience, and the overall direction of the franchise. The record price also sets a new benchmark that other NBA teams may reference in future sales or valuations.