Team owner Mark Walter has agreed to sell the Los Angeles Lakers to businessmen Josh Kushner and Bob Iger for a record $12 billion.
The sale comes just one year after Walter bought a controlling interest in the historic NBA franchise. ESPN was the first to report the news on Wednesday, which was later confirmed by Walter. Walter is currently under SEC investigation over $16 billion in private-credit loans.
The $12 billion fee eclipses the $10 billion record sales price Walter paid for the franchise in 2025, leaving him with roughly a $2 billion gross profit before taxes. The transaction also doubles the $6 billion price tag paid for the rival Boston Celtics in 2025. The deal still requires league approval and has ignited a massive reaction across the NBA.
Reactions from Lakers Stars
Former Lakers star Magic Johnson, who spent his entire 13-year NBA career in Los Angeles, offered his thoughts on the transaction on social media.
"Laker fans, you couldn’t have two better owners," Johnson wrote on X. "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."
Current Lakers star Luka Doncic also swiftly turned to social media to address fans about the takeover news.
"Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA," the Slovenian star said. "I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise. I look forward to meeting Josh and Bob so we can get to work building something special in LA together."
Statements from Ownership
Embattled former team owner Mark Walter shared a lengthy statement about the decision with fans on social media.
"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," Walter wrote.
"I am grateful to [former team owner] Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter," Walter added. "The Lakers belong to Los Angeles, and I have every confidence the best is still ahead."
Former controlling owner and team governor Jeanie Buss reacted online to the news with two words: "Perfectly said."
Profiles of the New Owners
Although Walter had experience in team ownership, the Lakers will have two relative novices in the owner's box when the deal is approved.
Kushner, 41, previously co-founded Thrive Capital and Oscar Health. He is the younger brother of Jared Kushner, the son-in-law of President Donald Trump. Kushner was part of an investor group that recently tried to buy stakes in the World Cup from FIFA in a since-aborted proposal that has left FIFA president Gianni Infantino fighting for his job. NBA commissioner Adam Silver is a long-time friend of the Kushner family and was seen with Kushner and Iger at the 2025 US Open in New York.
Iger recently completed his second stint as CEO of Disney, which has a long-standing partnership with the NBA through its sports cable network, ESPN, and other properties. Iger and his wife Willow Bay are also the controlling owners of Angel City FC, the National Women's Soccer League team in Los Angeles.
"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," Kushner and Iger wrote in a joint statement.
