American businessman Josh Kushner and former Disney executive Bob Iger are buying the Los Angeles Lakers for a record $12.5 billion, ESPN reported on Wednesday. The $12.5 billion deal, which equals roughly 65 billion reais, represents the largest transaction in history for a sports team.
According to the network, the duo acquired a controlling stake from Mark Walter. Walter had bought control of the team from the Buss family for $10 billion in October 2025, after the NBA Board of Governors unanimously approved the majority sale to him on October 30.
In a joint statement, Kushner and Iger stated that as lifelong NBA fans, they were deeply honored by the opportunity to become stewards of the Lakers, calling the team one of the most iconic sports franchises in the world. They expressed great respect for the leadership and vision of Jerry and Jeanie Buss, adding that their long-term commitment is to build on that foundation, compete at the highest level, and serve the team, its supporters, and the city of Los Angeles.
Seller reaction and TWG Global background
Walter serves as the CEO and chairman of TWG Global, a diversified holding company. His group is also involved with Premier League soccer club Chelsea and the Professional Women's Hockey League. In a statement to ESPN, Walter described owning the Lakers as one of the great honors of his life and an extraordinary investment, while thanking Jeanie Buss, the Buss family, players, and staff, adding that the Lakers belong to Los Angeles and that he has full confidence the best is yet to come.
Reports indicated that Kushner and Iger were previously involved in an expansion effort to land an NBA franchise in Las Vegas before shifting strategies to pursue the Lakers. Kushner is the younger brother of Jared Kushner, who is the son-in-law of President Donald Trump.
Lakers franchise history and championships
Jerry Buss, who died in 2013, originally purchased the Lakers for $67.5 million in a transaction that included the NHL's Los Angeles Kings and The Forum in Inglewood, California.
Founded in 1947, the Lakers have reached the NBA Finals 32 times and won 17 championships. That title total ranks second in NBA history behind the Boston Celtics, who have won 18 championships.
