Lakers Sold To Bob Iger, Kushner In Record $12.5B Deal

LOS ANGELES, CA — The Los Angeles Lakers are being sold for $12.5 billion to an ownership group led by businessmen Josh Kushner and Bob Iger, a deal that would set a record price for a U.S. professional sports franchise.

Kushner and Iger confirmed they are leading the prospective ownership group in a statement to NBC News.

ESPN first reported the agreement Wednesday, citing multiple sources. The Associated Press later reported the $12.5 billion price, citing a person familiar with the terms who spoke anonymously because the parties had not disclosed financial details.

“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers,” the pair said in a statement.

Kushner, 41, is the founder of venture capital firm Thrive Capital and a co-founder of Oscar Health. He also owns a minority stake in the Miami Heat that ESPN reported he would have to sell to complete the Lakers purchase.

Kushner's brother is Jared Kushner, son-in-law of President Donald Trump.

Iger, 75, led the Walt Disney Co. during two separate stints before leaving the CEO position this year. He and his wife, Willow Bay, are also controlling owners of Los Angeles-based NWSL club Angel City FC.

Second Sale In Less Than A Year

The agreement marks the second sale of the Lakers in less than a year. Dodgers owner Mark Walter took control of the franchise in October 2025 after buying the Buss family's controlling interest at a valuation of about $10 billion.

That valuation was itself a record for a professional sports franchise at the time. Walter had previously acquired a minority stake in the Lakers in 2021 before purchasing control of the team.

Walter said in a statement reported by ESPN and NBC News that owning the Lakers had been “one of the great honors of my life” and expressed confidence in the team's future.

Kushner and Iger said they plan to build on the legacy established by Jerry and Jeanie Buss while keeping the Lakers competitive and serving the team's fans and Los Angeles.

The latest sale still requires approval from the NBA's Board of Governors. The approval process can take several weeks, and the board's next meeting is scheduled for September in New York.

Kushner and Iger had previously been working together on a potential NBA expansion franchise in Las Vegas before pivoting to pursue the Lakers.

It remains unclear what role Jeanie Buss would have under the new ownership group. Walter's purchase agreement had called for Buss to remain the Lakers' governor after her family relinquished control of the team.

The Lakers have won 17 NBA championships, including their most recent title in 2020.

The sale also comes after LeBron James left the Lakers this summer following eight seasons in Los Angeles and signed with the Philadelphia 76ers. The Lakers' roster is now centered around NBA scoring champion Luka Dončić, who is under contract through the 2028-29 season.

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The Associated Press contributed to this report.