LA Lakers to be sold in record $12.5bn deal

The Los Angeles Lakers are set to be purchased for a staggering $12.5 billion, making it the most expensive sports team sale in history. The deal will see Josh Kushner, a close associate of Donald Trump's daughter, and Bob Iger, the former CEO of Disney, acquire the majority stake in the iconic NBA franchise.

Mark Walter, who previously held a majority share worth approximately $10 billion, sold his portion to the Kushner-Iger duo. Walter's acquisition of the Lakers in 2025 marked the highest-ever individual purchase, surpassing the previous record set by Buss family.

The NBA Board of Governors unanimously approved the sale, which was announced by Kushner and Iger. In a joint statement, they expressed their deep respect for the Buss family's leadership and their commitment to the Lakers' legacy. Walter, who purchased the team in 2025, emphasized the emotional significance of owning the Lakers, stating that it was an extraordinary investment and a testament to the city's loyalty.

The Lakers have a rich history, boasting 17 NBA championships, just one shy of the Boston Celtics' record of 18. The team recently parted ways with LeBron James, who joined the Philadelphia 76ers, leaving Luka Doncic as the primary star. Doncic expressed enthusiasm for the new ownership, stating that being a Laker meant everything to him and that he was ready to bring a championship back to Los Angeles.