Los Angeles Lakers Sold for Record Fee to Bob Iger and Joshua Kushner

The Los Angeles Lakers will change ownership again, marking the second sale within about a year. Former Disney CEO Bob Iger and Joshua Kushner, founder of Thrive Capital, plan to purchase the team from Mark Walter, the CEO of Guggenheim Partners. The selling price is a record-breaking $12.5 billion, according to sources.

Iger and Kushner expressed their enthusiasm in a joint statement, acknowledging the team’s legacy and their commitment to continue that tradition. They emphasized respect for the Buss family’s leadership and outlined their intention to take the team to the next level in competition and service to the community.

“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.”

The deal takes place 14 months after Walter paid approximately $10 billion for a majority stake, surpassing the previous record set by the Boston Celtics’ $6.1 billion sale. Jeanie Buss, who retained her role as Lakers governor after the sale to Walter, might see her position change under the new ownership, though details remain unclear.

This acquisition marks Iger’s second foray into sports ownership following his purchase of Angel City FC, an NWSL team, in 2024 alongside his wife, Willow Bay. Iger led Disney twice, from 2005 to 2020 and again from 2022 until March 2026.

Kushner, 41, has a notable background, being the youngest son of Charles Kushner, U.S. Ambassador to France and Monaco, and the brother of Jared Kushner. Last year, Joshua acquired a minority stake in the Miami Heat, showcasing his interest in sports investments.

The NBA itself is expanding, seeking bids for new franchises in Seattle and Las Vegas, which will raise the total number of teams to 32.

On the playing side, the Lakers are entering a new phase with Luka Doncic leading the team. Doncic, a superstar guard, joined the Lakers in February 2025 through a significant trade with the Dallas Mavericks and extended his contract with the team last August.

The Lakers will have to navigate without LeBron James, as he left in free agency to finish his career with the Philadelphia 76ers. James’s departure marks the end of an era for the franchise.