Entrepreneur Joshua Kushner and Disney chief executive Bob Iger have agreed to purchase the Los Angeles Lakers NBA franchise for $12.5 billion on Wednesday, August 12. The transaction sets a new record sale price for a team in the North American league.
ESPN journalist Ramona Shelburne revealed the unexpected deal, reporting that the sale value exceeds $12 billion. The announcement arrived shortly after Kushner and Iger saw their joint project with FIFA president Gianni Infantino to create a commercial company for football's governing body turned down.
Record profit and federal investigations
Current owner Mark Walter acquired the historic franchise from the Buss family in 2025 for $10 billion. In little more than a year, Walter achieved an exceptional capital gain by reselling the team for $12.5 billion.
The transaction comes while United States federal authorities investigate financial activities across Walter's business empire. Inquiries are being conducted by federal prosecutors in Manhattan, the Department of Justice under President Trump, and the Securities and Exchange Commission. The sale proceeds could assist Walter in paying potential fines if financial malfeasance reported by media outlets is proven in court.
Las Vegas expansion project and buyer finances
The buyer duo of Kushner and Iger came as a surprise to observers in the league. They were previously involved in a project to bring an NBA expansion franchise to Las Vegas when the league expands in coming years.
Kushner has an estimated net worth of $5.2 billion, while Iger holds between $650 million and $800 million. To raise the capital required for the $12.5 billion purchase, the pair likely partnered with investment funds and minority investors.
Political ties and FIFA commercial venture
Josh Kushner is closely connected to Donald Trump, as his brother Jared Kushner is married to the president's daughter. While the Republican president is not widely popular in the progressively leaning, Democratic-oriented NBA, his relative will now control one of the most influential franchises in world sport.
Kushner recently made headlines after his firm Thrive Capital was identified as the main investor in the FIFA Forward Enterprise project backed by Gianni Infantino. The proposal to sell up to 20 percent of a FIFA-controlled commercial subsidiary to private investors, with Thrive Eternal as the key backer, was unanimously rejected across football.
