The Los Angeles Lakers are heading into another ownership transition after Bob Iger and Joshua Kushner agreed to purchase the franchise in a record $12.5-billion deal.
The agreement, announced Aug. 12, would value the Lakers at the highest price ever reported for a North American sports franchise. The deal comes about a year after Mark Walter acquired controlling interest in the team from the Buss family at a then-record $10 billion valuation.
The sale still requires approval from the NBA’s board of governors before it can be completed. The next board meeting is scheduled for September in New York.
Iger and Kushner said they were honored to take over one of basketball’s most recognizable franchises.
“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,” Iger and Kushner said in a statement. “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.”
The change comes as the Lakers enter a new phase on the court. LeBron James left the team after eight seasons and signed with the Philadelphia 76ers, while Luka Doncic has emerged as the franchise’s centerpiece.
Dončić welcomed the incoming owners and said,
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA.”
Kushner, founder of Thrive Capital, previously held minority stakes in NBA teams, including the Miami Heat and Memphis Grizzlies. Iger, who led Disney for two separate periods, also became the controlling owner of NWSL club Angel City FC with his wife Willow Bay in 2024.
Lakers legend Magic Johnson praised the deal, writing, “Laker fans, you couldn’t have two better owners. I’ve known Bob personally for over 40 years — he has always loved the Lakers and basketball and he will bring championships back to LA.”
The Lakers, who have won 17 NBA championships, are now set to begin another ownership transition after the Buss family’s decades-long control of the franchise.
