Los Angeles Lakers to be sold to Bob Iger, Josh Kushner for $12.5 billion

The Los Angeles Lakers are set to undergo a historic change in ownership, as they are being sold to a new duo - former Disney CEO Bob Iger and venture capital founder Joshua Kushner. This unprecedented deal is expected to be the most expensive purchase in professional sports history, with a staggering price tag of $12.5 billion. The pair announced their intent to take stewardship of the iconic franchise from current CEO Mark Walter, who acquired a majority stake in the team last year for a record $10 billion.

Renowned NBA fans, Iger and Kushner expressed their deep honor at becoming custodians of the Los Angeles Lakers, one of the most celebrated sports teams globally. They vowed to build upon the legacy of the Buss family, aiming to compete at the highest level and serve the team, its fans, and the city of Los Angeles.

This sale, coming 14 months after Walter's acquisition, marks a new chapter in Lakers history. The previous record for the most expensive sports team sale was the $6.1 billion purchase of the Boston Celtics last year. Bob Iger, 75, has dabbled in soccer recently, purchasing LA's Angel City FC along with his wife Willow Bay. In a post on X, Lakers legend Magic Johnson hailed Iger and Kushner as two of the best owners who would bring championships back to Los Angeles.

The Lakers' new leadership will also include superstar guard Luka Doncic, who was acquired in a surprising trade from the Dallas Mavericks in February 2025. Doncic has since signed a contract extension with the team. Doncic expressed his excitement about the ownership change, stating that his passion for the Lakers remains firm, regardless of the new ownership. The team will also have to navigate the absence of LeBron James, who recently left for the Philadelphia 76ers.