Bob Iger, Josh Kushner to buy Lakers for $12.5 billion, ESPN reports

American businessmen Josh Kushner and Bob Iger have agreed to purchase the Los Angeles Lakers for a record-breaking $12.5 billion, according to multiple sources cited by ESPN. The deal marks a significant increase from the team's previous record franchise valuation of around $10 billion, which was set when Mark Walter acquired a controlling interest from the Buss family last year.

Kushner and Iger, both lifelong NBA fans, expressed their honor and commitment to becoming stewards of the iconic franchise in a joint statement. They pledged to build upon the strong foundation established by the Buss family, compete at the highest level, and serve the team, its fans, and the city of Los Angeles.

Walter, the CEO and chairman of TWG Global, has been the majority owner of the Lakers since October 2024. He expressed gratitude to the Buss family, the players, and the staff for welcoming him into this chapter, emphasizing that his ownership represents a deep connection to the community and the fans. Walter owns various professional sports organizations, including the Dodgers, Sparks, Chelsea, and Chelsea Women's Premier League teams, as well as several auto racing teams through TWG Motorsports.

He is currently under investigation by federal authorities for alleged tax fraud related to other companies connected to him.

Kushner, a 41-year-old venture capitalist and co-founder of Thrive Capital, will need to sell his minority stake in the Miami Heat to facilitate the Lakers acquisition. Iger, the 75-year-old former CEO of Disney, will step down from his role following this transaction.