Los Angeles Lakers set to be sold for a reported $12.5bn
The Los Angeles Lakers are to be sold for a reported record-breaking $12.5bn on 12 August 2026, the BBC reports, with Josh Kushner and former Disney chief executive Bob Iger buying the controlling interest.
The sale comes less than a year after Mark Walter took a majority stake in the franchise. After Jerry Buss died in 2013, ownership passed to his six children in a Trust before a deal was completed with Walter. Walter also holds a stake in the LA Dodgers alongside Todd Boehly.
Jerry Buss originally bought the Lakers in a $67.5m deal in 1979 that included the Los Angeles Kings hockey team and a Los Angeles arena, known as the Kia Forum. That historical purchase is noted in the ownership chronology tied to the current transaction.
Josh Kushner and Bob Iger issued a joint statement announcing their purchase. "As lifelong NBA fans, we are deeply honoured 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," Kushner and Iger said in a statement.
Mark Walter commented on his time as majority owner. "Owning the Los Angeles Lakers has been one of the great honors of my life," said Walter. "It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. "I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead."
Luka Doncic is one of the star players with the LA Lakers. The franchise has won 17 NBA titles, one fewer than the Boston Celtics' 18.
Josh Kushner, the brother of US President Donald Trump's son-in-law Jared, is named among the buyers. The involvement of Kushner follows controversy surrounding Fifa president Gianni Infantino and an aborted plan to sell off stakes in the governing body's competitions to private investors; Thrive Eternal, an American venture capital firm founded by Kushner, was expected to lead the proposed investor group for the Fifa Forward Enterprise (FFE) proposal.
Walter's earlier purchase from the Buss family was reportedly worth an estimated $10bn (£7.45bn) and was described as a previous record; that transaction was unanimously approved by the NBA Board of Governors in October 2025.