Josh Kushner and Bob Iger to Acquire Los Angeles Lakers for $12 Billion in Record Deal
Josh Kushner and Bob Iger have agreed to acquire the Los Angeles Lakers from Mark Walter for $12 billion, setting a record for the most expensive sports team purchase. The deal values the franchise at $12.5 billion, at least 20% above the roughly $10 billion valuation Walter paid to the Buss family last year. Walter retains holdings including the Los Angeles Dodgers, the Sparks, and Chelsea.
The Los Angeles Lakers are changing hands again. According to a statement, less than a year after acquiring controlling interest in the team, Mark Walter has sold his majority stake to Joshua Kushner and Bob Iger. People familiar with the matter said the transaction values the team at $12.5 billion. In July 2026, Kushner and Iger together attended Allen & Company's media and technology conference in Sun Valley, Idaho. Iger and Kushner said in a joint statement that as lifelong NBA fans, they are deeply honored to have the opportunity to become stewards of the Los Angeles Lakers, and expressed great respect for the leadership and vision of Jerry and Jeanie Buss. The statement said their long-term commitment is to build on the existing foundation, compete at the highest level, and serve the extraordinary team, its fans, and the city of Los Angeles. Earlier this year, Iger joined Thrive Capital, the venture firm founded by Kushner, and stepped down as chief executive of Disney, a role he held for roughly 20 years. Mark Walter acquired control of the Lakers from the Buss family last year at a valuation of approximately $10 billion. This transaction represents an increase of at least 20% over that valuation. In a statement, Walter said owning the Lakers was the greatest honor of his life and an extraordinary investment; he thanked Jeanie Buss, the Buss family, the players and staff for their embrace, and said he believes the best chapters for the Lakers still lie ahead. Walter's sports holdings also include the Los Angeles Dodgers, the Los Angeles Sparks, Chelsea Football Club, and a professional women's hockey league team.