The Los Angeles Lakers are set to be sold for a staggering $12.5 billion, making it the highest sale price for a sports franchise in history. Joshua Kushner and former Disney CEO Bob Iger have reached an agreement to acquire the NBA team.
Why it matters: This sale marks a new record in professional sports, surpassing previous highs and highlighting the growing value of sports franchises.
- The $12.5 billion sale price eclipses the previous record of $10 billion set just 10 months earlier when Mark Walter acquired the team.
- This acquisition reflects the increasing financial stakes in professional sports, with franchises becoming more valuable as media rights deals expand.
- The Lakers are one of the most successful teams in NBA history, with 17 championships, making them a highly desirable asset.
Driving the news: The announcement of the sale was made on August 12, 2026, by major media outlets including ESPN, with the deal expected to finalize pending NBA Board approval.
- The Lakers were previously owned by Mark Walter, who purchased the team for $10 billion in October 2025.
- Walter's decision to sell comes after facing scrutiny from federal tax investigations, prompting a quick sale.
- The NBA Board is scheduled to meet in September 2026 to review and approve the transaction.
State of play: The new ownership duo, Kushner and Iger, expressed their excitement in a joint statement about leading one of the most iconic franchises in sports.
- Kushner, known for his venture capital firm Thrive Capital, is the brother of Jared Kushner, former senior advisor to Donald Trump.
- Iger, who led Disney for over two decades, has a long-standing relationship with the NBA, having overseen ESPN during his tenure.
- Both owners aim to build on the legacy of the Lakers and maintain their competitiveness in the league.
The big picture: The sale signifies a shift in the ownership dynamics of professional sports, with high-profile business figures stepping in to lead major franchises.
- This acquisition is particularly notable as it follows Kushner's recent involvement in a failed attempt to invest in FIFA's new commercial entity, which faced backlash from global football associations.
- The Lakers' new owners are committed to fostering a strong connection with fans and the Los Angeles community.
- The franchise's value has surged due to lucrative broadcasting deals, with the NBA set to sign a new $770 billion media rights agreement starting in the 2026-27 season.
What they're saying: The new owners shared their vision for the Lakers in a public statement, emphasizing their dedication to the team and its fans.
- “As lifelong NBA fans, we are honored to take the reins of one of the most iconic franchises in sports,” Kushner and Iger stated.
- They expressed respect for the leadership of the Buss family, who have historically managed the team.
- They pledged to maintain the Lakers' competitive edge and commitment to the city of Los Angeles.
By the numbers: The financial implications of this sale are staggering, marking a new era in sports franchise valuations.
- The Lakers' sale price of $12.5 billion is a $2.5 billion increase from the previous record set by Walter.
- Within just 10 months, the value of the Lakers jumped significantly, indicating a rapid appreciation in the sports market.
- The team has won 17 NBA championships, contributing to its high market value and desirability among investors.
What's next: The sale of the Lakers will undergo scrutiny and approval by the NBA Board in September, with stakeholders eager to see how the new ownership will impact the franchise.
- Once approved, Kushner and Iger will begin implementing their vision for the team, which includes maintaining a competitive roster and engaging with the community.
- The Lakers' upcoming season will be closely watched as fans anticipate changes under new ownership.
- With the NBA's lucrative media rights deal on the horizon, the financial outlook for the franchise remains strong.
The Lakers, known for their storied history and star-studded roster, are set to enter a new chapter under Kushner and Iger, with expectations high for continued success and community engagement.