LA Lakers to be sold in record $12.5bn deal

The Los Angeles Lakers are set for a record-breaking sale to an estimated $12.5 billion (£9.3 billion), according to recent reports. The deal, which is less than a year in the making, involves a majority stake in the NBA franchise. Josh Kushner, the brother of US President Donald Trump's son-in-law Jared, and former Disney CEO Bob Iger are the buyers, acquiring control of one of the world's most iconic sports teams.

Mark Walter, who held a majority stake in the team, sold his share to Kushner and Iger, reportedly for $10 billion (£7.45 billion), a previous record-breaking figure. The NBA Board of Governors unanimously approved the deal in October 2025.

Kushner and Iger expressed their deep honor and respect for the Lakers, stating their commitment to building on the franchise's foundation, competing at the highest level, and serving the team, its fans, and the city of Los Angeles. The Lakers, founded in 1979 by Jerry Buss, have won 17 NBA titles, one less than the Boston Celtics' record of 18.

Walter, who has owned the Lakers for a few years, expressed gratitude to the Buss family, the players, and the staff for welcoming him into this chapter. He emphasized that the Lakers belong to Los Angeles and that he has confidence in the team's future.

The acquisition comes after Kushner's involvement in a controversy surrounding Fifa president Gianni Infantino and a proposal to sell off stakes in Fifa's competitions to private investors. Thrive Eternal, Kushner's American venture capital firm, was expected to lead the investor group for the proposed Fifa Forward Enterprise.

The Lakers' past three years have seen 50 wins, 32 losses, and a finish in the 3rd place of the Western Conference in the 2024-25 season. They lost the Western Conference first round in the previous two seasons. Meanwhile, star player LeBron James left the team in the summer, joining the Philadelphia 76ers. Luka Doncic, who joined the Lakers in February 2025, welcomed the takeover, expressing excitement about the team's potential and his commitment to the franchise.