The Los Angeles Lakers are changing hands again, and this time the price tag is even bigger. Former Disney CEO Bob Iger and venture capitalist Josh Kushner have agreed to acquire the Lakers from Mark Walter in a deal valuing the storied NBA franchise at approximately $12.5 billion, according to multiple reports published Wednesday, Aug. 12. The transaction is not yet final and still requires approval from the NBA Board of Governors.
The blockbuster agreement comes less than a year after Walter officially became the Lakers' majority owner. In October 2025, the NBA unanimously approved Walter's acquisition of the controlling stake previously held by the Buss family. That transaction valued the Lakers at approximately $10 billion.
© Getty ImagesNow, one of basketball's most famous franchises is preparing for another ownership transition, with two major names from the worlds of entertainment, technology and venture capital stepping into the spotlight.
Who Are the Lakers’ New Owners, Bob Iger and Josh Kushner?
Iger is one of the best-known executives in the entertainment industry, having spent decades at Disney, including multiple stretches as CEO. His connection to sports is significant as well. Disney owns ESPN, and Iger has been a longtime NBA fan.
© NWSL via Getty ImagesKushner is the founder of venture capital firm Thrive Capital and has previous NBA ownership experience. He has held a minority interest in the Miami Heat, a stake he would need to divest as part of becoming a Lakers owner, according to Axios.
© Getty ImagesBefore landing the Lakers opportunity, Iger and Kushner had been involved in efforts to pursue a potential NBA expansion franchise in Las Vegas. Instead of waiting for the league to expand, the pair suddenly found themselves with a chance to acquire one of the biggest brands in professional sports.
And apparently, things moved very quickly.
Speaking about the acquisition, Iger said the deal came together in just three days. He described the opportunity to own the Lakers as "extraordinary" from both a personal and business perspective.
Bob Iger and Josh Kushner Speak Out About Buying the Lakers
Iger and Kushner made their priorities clear in a joint statement following news of the agreement. "As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers," the pair said, calling the team "one of the most iconic sports franchises in the world."
They also emphasized their respect for the Buss family's influence on the franchise and said their long-term goal is to build on that foundation while competing at the highest level and serving the team, its fans and Los Angeles.
© NWSL via Getty Images
© Getty Images for Fortune MediaThat focus on the Buss legacy could be especially important to Lakers fans wondering how dramatically the franchise will change under another new ownership group.
Will Jeanie Buss Stay With the Lakers?
For now, the answer appears to be yes.
When Walter's acquisition was approved in October 2025, the NBA announced that Jeanie Buss would remain the Lakers' governor for at least five years following the transaction. The Buss family also retained an ongoing minority interest in the organization.
© Los Angeles Times via Getty ImagIger has now indicated that he and Kushner plan to respect that arrangement. "We have enormous respect and appreciation for Jeanie, her father and what they've contributed to this franchise," Iger said in an interview Wednesday. He added that the incoming ownership group intends to honor the agreement between Buss and Walter.
Iger also cautioned against assuming sweeping changes are already planned. He said he and Kushner are still early in the process and recognize there are things they know and things they do not yet know about operating the organization.
That could signal continuity, at least initially, rather than an immediate overhaul.
The Lakers’ $12.5 Billion Sale Is Historic
The reported $12.5 billion valuation represents another extraordinary jump in the value of elite American sports franchises.
Walter's 2025 acquisition had already established a record at approximately $10 billion. The proposed Iger-Kushner transaction would push the Lakers' valuation another $2.5 billion higher less than a year later. Reuters and the Associated Press both described the agreement as a record-setting sports transaction.
© Getty ImagesIt also illustrates just how valuable the Lakers brand has become.
The Buss family's connection to the franchise dates back to 1979, when Jerry Buss purchased the team. Under the family, the Lakers became closely associated with some of basketball's biggest stars and championship eras, from Magic Johnson and Kareem Abdul-Jabbar to Kobe Bryant, Shaquille O'Neal and LeBron James.
When Walter took control in 2025, NBA Commissioner Adam Silver credited the Buss family with "46 years of transformational leadership and service."
Less than a year later, the franchise's valuation has climbed again.
What Could New Lakers Ownership Mean for Luka Dončić?
The ownership change arrives during another major transition for the Lakers on the basketball side.
LeBron James ended his Lakers run this summer, closing an eight-year chapter that included the 2020 NBA championship.
© Getty ImagesThat leaves Luka Dončić as the centerpiece of the franchise's next era, making the relationship between the superstar and the incoming ownership group one of the biggest stories to watch.
Iger said Wednesday that he had not yet spoken with Dončić, although he had spoken with Buss and Lakers coach JJ Redick.
The new owners' willingness to spend on players, facilities, technology, scouting and basketball operations could ultimately matter more to fans than the eye-popping purchase price. For now, however, Iger is resisting predictions about immediate changes. "We're fans," he said, adding that the pair respects the value the Lakers have created on and off the court. Their goal, he explained, is to build the franchise from its existing position of strength.
The Lakers Are Changing Owners So Quickly
Walter's remarkably short run as controlling owner makes the new agreement even more unusual.
He officially finalized his majority acquisition in October 2025 after receiving unanimous NBA approval. At the time, Walter called owning the Lakers a privilege and said he wanted to work alongside Buss to maintain the franchise's tradition of excellence.
© Getty ImagesThe proposed $12.5 billion transaction now moves the Lakers toward their second ownership change in roughly a year.
Who is Josh Kushner?
Josh Kushner is Ivanka Trump’s brother-in-law. Born in New Jersey, Josh Kushner is the son of real estate mogul Charles Kushner and the younger brother of Jared Kushner—who is widely recognized as former President Donald Trump's son-in-law.
Josh is married to supermodel Karlie Kloss.
© Getty Images for The Met Museum/According to CNN, Charles Kushner received a presidential pardon from Trump in 2020 regarding his 2005 federal tax evasion conviction.
