Lakers Sell for $12.5 Billion, Highest Price in Sports History

The Lakers have broken their own record. The Los Angeles franchise has been sold to Josh Kushner and Bob Iger for approximately $12.5 billion, the highest amount ever paid for a sports team in the United States, according to ESPN's Ramona Shelburne.

What stands out is not just the figure, but the timeline. Mark Walter acquired control of the club from the Buss family just fourteen months ago for a valuation near $10 billion, which was also a record at the time. He is now selling with an approximate profit of $2.5 billion in just over a year.

From Las Vegas to Los Angeles in an Unexpected Turn

The deal originated from an unexpected place. Kushner and Iger were participating in the NBA's expansion process with their sights set on a future franchise in Las Vegas, but they changed course and presented Walter with an aggressive offer. According to Shelburne, the approach occurred on Sunday and the agreement was closed within days.

Both buyers released a joint statement declaring themselves lifelong NBA fans, saying they feel deeply honored to become stewards of one of the most iconic franchises in world sports, and expressing their respect for the legacy of Jerry and Jeanie Buss. Their commitment, they stated, is to compete at the highest level and serve the team, its fans, and the city.

Walter, for his part, called his tenure one of the great honors of his life and assured that the Lakers belong to Los Angeles.

Who Are the New Owners

Kushner, 41, founded and runs the venture capital firm Thrive Capital, which invested early in Instagram, Spotify, Stripe, and OpenAI, and cofounded Oscar Health. He is the brother of Jared Kushner, son-in-law of President Donald Trump. One notable detail: he holds a minority stake in the Miami Heat and will have to sell it to complete the purchase.

Iger, 75, was chief executive officer of Disney in two separate stints, the last one ending this very year, and since 2024 is majority owner of Angel City FC of the NWSL alongside his wife Willow Bay.

A Sale in Context

The move comes at a delicate moment for Walter. Several companies linked to the businessman are being investigated in the United States: Bloomberg reported federal inquiries into two insurance companies under his control and a parallel SEC investigation into the disclosure of certain loans. His companies have denied any wrongdoing and no source has linked those investigations to the decision to sell.

Walter, in any case, maintains the rest of his sports empire, including the Los Angeles Dodgers, Los Angeles Sparks, Chelsea, and several motorsports teams.

To put the deal in perspective, it helps to look back. Jerry Buss bought the Lakers in 1979 for $67.5 million.