Lakers sold for $12.5 billion to Kushner and Iger

The NBA’s board of governors approved the sale of the Los Angeles Lakers on Oct. 30, 2025, transferring Mark Walter’s controlling interest to a partnership of venture capitalist Josh Kushner and former Disney chief Bob Iger for a reported $12.5 billion, a record valuation for the franchise. The transaction, which still requires final league approval, follows Walter’s purchase of the team earlier that year for $10 billion.

Walter, who had owned 26% of the club through his TWG Global group since 2021, issued a statement saying owning the Lakers had been “one of the great honors of my life” and praised the community and fan base. Sources suggest the rapid turnaround and sizable profit may be linked to a federal investigation into TWG Global’s financial practices.

Iger told The California Post that current Lakers governor Jeanie Buss will remain in her role for the time being, emphasizing respect for the existing agreement. The new ownership group has close ties to NBA commissioner Adam Silver, who has worked with Iger on television rights deals and the league’s 2019-20 “bubble” restart.

Players and agents expressed surprise at the swift change. One agent described the deal as “a curveball,” while another noted the size of the equity check. Luka Doncic, the team’s star player, was not consulted but plans a video call with the new owners. He acknowledged the frequent ownership changes but said players primarily focus on resources to win.

The sale may also affect the NBA’s expansion plans. Iger and Kushner had been pursuing a prospective Las Vegas franchise but shifted focus after the Lakers opportunity emerged, stating the iconic value of the team made the deal “smart.” League officials indicated that a Vegas expansion remains a priority, with a decision expected at the next board meeting.

Analysts observed that the $12.5 billion price tag underscores the growing market value of NBA franchises and could set a benchmark for future sales and expansion fees.