Business titans Bob Iger and Josh Kushner have purchased the Los Angeles Lakers for a staggering $12.5 billion, setting a new record for the highest price ever paid for a North American sports franchise.
Why it matters: This sale highlights the financial power of Iger and Kushner and signifies a major shift in the ownership of one of the most storied franchises in sports history. The previous record was set just 14 months ago when Mark Walter acquired the Lakers for $10 billion.
- The Lakers' sale to Iger and Kushner marks a historic moment in sports transactions, surpassing the previous record by $2.5 billion.
- Iger, a former CEO of Disney, and Kushner, founder of Thrive Capital, are both well-known figures in their respective industries.
- The transaction reflects the growing trend of high valuations in professional sports, particularly in the NBA.
Driving the news: The announcement of the sale came on August 12, 2026, after Iger and Kushner made an aggressive bid to acquire the franchise from Walter, who bought it from the Buss family in 2025.
- Kushner and Iger initially sought to invest in an NBA expansion team in Las Vegas but shifted focus to the Lakers when they saw an opportunity.
- Walter had previously invested heavily in the Lakers’ infrastructure, making this sale unexpected and rapid.
- The deal still requires approval from the NBA's Board of Governors before finalization.
State of play: As part of the sale, Kushner will need to divest his minority stakes in the Miami Heat and Memphis Grizzlies to take control of the Lakers.
- Kushner, who has a net worth of $5.2 billion, is the younger brother of Jared Kushner, former advisor to Donald Trump.
- Iger, with a net worth of $600 million, has been a prominent figure in the entertainment industry, leading Disney through its most lucrative years.
- The Lakers have a rich history, and their new owners have expressed a commitment to maintaining the franchise's legacy.
The big picture: The Lakers' sale is part of a broader trend of skyrocketing valuations in professional sports, particularly in the NBA.
- The Dallas Cowboys remain the most valuable sports franchise in the U.S., estimated at $15.5 billion, highlighting the competitive nature of sports ownership.
- Only two sales in North American sports history have exceeded $10 billion, both involving the Lakers.
- This sale may set a new precedent for future transactions within the league.
What they're saying: In a joint statement, Kushner and Iger expressed their excitement about the acquisition.
- "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," they said.
- Mark Walter, the outgoing owner, emphasized the community aspect of the Lakers, stating, "Owning the Los Angeles Lakers has been one of the great honors of my life."
- The Lakers' leadership under the Buss family has been acknowledged by the new owners, who aim to build on that foundation.
By the numbers: The financial details surrounding the Lakers' sale reveal the scale of the transaction.
- The Lakers were sold for $12.5 billion, surpassing the previous record of $10 billion set by Walter.
- Kushner's net worth is estimated at $5.2 billion, placing him among the top 1,000 wealthiest individuals globally.
- Iger's net worth stands at $600 million, primarily from his tenure at Disney and various investments.
Between the lines: The rapid sale of the Lakers raises questions about Walter's motivations and the financial circumstances surrounding the transaction.
- Walter is currently under federal investigation related to undisclosed loans amounting to $21 billion, which may have influenced his decision to sell.
- Concerns about Walter's health have also surfaced, with reports indicating he suffered a stroke in 2024.
- The sale has taken many within the Lakers organization by surprise, with staff learning about the deal through media reports.
What's next: The transition to new ownership will involve several key steps before being finalized.
- The NBA's Board of Governors must approve the sale, a process that can take time.
- Kushner will need to divest his interests in other teams to comply with league ownership rules.
- As the new owners prepare to take over, they will likely outline their vision for the team's future and operational strategies.
With the purchase of the Lakers, Iger and Kushner step into a role that comes with immense expectations from fans and the community. Their commitment to building on the legacy of the Lakers will be closely watched as they navigate the challenges of professional sports ownership.