The Los Angeles Lakers are set to change hands once more, marking the second sale in about a year. Former Walt Disney Company CEO Bob Iger and venture capitalist Joshua Kushner will acquire the franchise from Mark Walter, CEO of Guggenheim Partners. This acquisition is confirmed by CBS LA, with the purchase price reported at $12.5 billion by insiders familiar with the deal.
In a joint statement, Iger and Kushner expressed their dedication to upholding the legacy of the Lakers: “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. We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
The purchase follows a previous transaction about 14 months prior when Walter acquired the majority stake for $10 billion from the Buss family. Despite last year’s sale, Jeanie Buss maintained her position as Lakers governor. Her future role under the new ownership remains uncertain.
This deal exceeds past records, including last year’s $6.1 billion sale of the Boston Celtics. Sports industry analysts are closely watching this development as the NBA also considers bids for expansion franchises in Seattle and Las Vegas, potentially increasing the league to 32 teams.
Bob Iger, aged 75, has experience in sports team ownership, having acquired the NWSL’s Angel City FC in 2024 alongside his wife, journalist Willow Bay. He previously served two terms as Disney’s CEO. Joshua Kushner, 41, is known for his business acumen and holds familial ties to prominent figures. His investments include a minority stake in the Miami Heat.
On the sports front, the Lakers’ direction will be led by Luka Doncic, acquired in an unexpected trade from the Dallas Mavericks in February 2025. Doncic extended his contract last August. However, the team faces challenges following the departure of LeBron James, one of the NBA’s all-time greats, who left via free agency to join the Philadelphia 76ers, planning to end his career there.