The Los Angeles Lakers are undergoing a change in ownership. The team, previously valued at $10 billion last year, is now being sold at an impressive valuation exceeding $12 billion. Bob Iger, former CEO of Disney, and Joshua Kushner are the new buyers. This information comes from a source familiar with the deal, who requested anonymity due to not being authorized to publicly discuss the sale.

Joshua Kushner, who already holds a minority stake in the Miami Heat, is known as the younger brother of Jared Kushner. Both Iger and Kushner expressed their excitement about acquiring the renowned NBA franchise. 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 stated. They acknowledged the legacy of Jerry and Jeanie Buss and emphasized their long-term commitment to maintaining high standards while serving the team, fans, and Los Angeles.

Mark Walter, the outgoing owner and also majority owner of the Los Angeles Dodgers, reflected on his time with the Lakers. Describing the experience as one of life’s greatest honors and an exceptional investment, Walter expressed gratitude to the Buss family, team members, and fans. What I will carry with me is the community, the fans, and a city that treats this team as a family, Walter noted in a statement. He conveyed confidence that the Lakers’ future remains promising under new ownership.

Further updates regarding the sale are expected as developments unfold.