Los Angeles Lakers ownership could change again less than a year after the NBA approved Mark Walter’s majority purchase. Josh Kushner and former Disney chief Bob Iger have agreed to acquire the franchise in a transaction valued at $12.5 billion. The proposed deal would set a U.S. professional sports valuation record, but NBA approval is still required.
Key Takeaways
- Josh Kushner and Bob Iger have agreed to acquire the Los Angeles Lakers in a transaction valued at $12.5 billion.
- The proposed valuation exceeds the $10 billion figure attached to Mark Walter’s majority purchase in 2025.
- Walter’s majority ownership was approved by the NBA Board of Governors on Oct. 30, 2025.
- The latest transaction still requires NBA Board of Governors approval.
- The ownership change comes as the Lakers build their roster around Luka Doncic following LeBron James’ departure.
The Los Angeles Lakers are moving toward their second ownership change in roughly a year after Kushner and Iger agreed to buy the franchise from Walter in a deal valued at $12.5 billion.
The price would exceed the $10 billion valuation attached to Walter’s purchase of a majority stake, which the NBA Board of Governors approved in October 2025.
The timing makes the agreement notable beyond its price. Walter only recently became majority owner after the Buss family, which had controlled the team since 1979, transferred its majority interest. Another proposed ownership change has now emerged before Walter has completed a full year in control.
The agreement is not yet final. It requires approval from the NBA Board of Governors and remains subject to the transaction’s closing process.
Los Angeles Lakers Sale Lifts the U.S. Sports Benchmark
The $12.5 billion valuation would move the Lakers above the previous U.S. professional sports transaction benchmark, which the franchise itself established last year at $10 billion.
For comparison, the Charlotte Hornets changed hands at a $3 billion valuation in 2023, while the Boston Celtics were sold at a valuation of just over $6 billion in 2025.
Those comparisons illustrate how quickly prices attached to NBA franchises have moved. The Lakers stand at the center of that shift because the same franchise has now been associated with two successive U.S. sports valuation records in a short period.
The team also combines the Los Angeles market with a long championship history. The Lakers have won 17 NBA championships, including their most recent title in 2020, and remain one of the league’s most commercially visible franchises.
The scale of the agreement adds another business dimension to the California sports economy, where professional teams and major events can influence tourism, media activity and local commerce. The Lakers transaction is distinct from individual games or tournaments, but its size highlights the commercial scale surrounding major California sports properties.
The increase from the previous $10 billion valuation to $12.5 billion amounts to 25%. That change has occurred within roughly a year rather than across a long ownership cycle, making the timing one of the transaction’s most notable elements.
Lakers Ownership Changes Again After the 2025 Transfer
Walter first acquired a 27% minority interest in the Lakers in 2021 before reaching an agreement in 2025 to purchase the majority interest held by the Buss family. The NBA Board of Governors unanimously approved that transaction on Oct. 30, 2025.
Under the 2025 arrangement, the Buss family retained an ongoing interest and Jeanie Buss was set to remain the Lakers’ governor for at least five years following the closing. The newest agreement has created uncertainty over whether that governance structure will remain unchanged.
Kushner and Iger had previously been connected to efforts involving a possible NBA expansion franchise in Las Vegas. The Lakers agreement instead gives the pair a route into ownership of an existing NBA team without waiting for the league to complete a future expansion process.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers,” Kushner and Iger said in a joint statement.
Iger stepped down from Disney in March 2026 after leading the company during two separate periods. He and his wife, Willow Bay, became controlling owners of Angel City FC in 2024. Kushner has also held minority ownership interests in NBA franchises.
The transaction arrives during a prominent period for basketball in Southern California. UCLA captured the 2026 NCAA basketball title in women’s competition earlier this year, adding another major basketball storyline in the region.
For the Lakers, however, the more immediate transition is taking place on both the ownership and roster sides of the organization.
Luka Doncic is now the central figure on the roster and is under contract through the 2028-29 season after agreeing to an extension with Los Angeles in August 2025.
LeBron James left the Lakers after eight seasons and joined the Philadelphia 76ers during the 2026 offseason. His departure moved the franchise more clearly into a Doncic-led period just as another ownership transition emerged.
The Lakers have reached the playoffs in each of the past four seasons. That recent record means the prospective ownership group would inherit an organization already navigating a major basketball transition rather than beginning with a complete roster reset.
NBA Approval Remains the Final Major Transaction Step
The $12.5 billion agreement should not be treated as a completed sale until the NBA finishes its review. The league’s Board of Governors must approve the transaction before the ownership transfer can be finalized.
The handling of Walter’s purchase provides a recent example of the process. The NBA Board of Governors unanimously approved his majority acquisition on Oct. 30, 2025, after the agreement had been reached earlier that year.
Until comparable approval is granted, Kushner and Iger remain prospective owners under the new agreement. That distinction is important because the $12.5 billion valuation has already established the central business angle while the formal ownership transfer remains pending.
The next phase will center on the league review, closing process and any resulting changes to the Lakers’ governance structure. On the basketball side, the organization is simultaneously entering a period built around Doncic following James’ departure.
For the Los Angeles Lakers, those developments have placed ownership, valuation and roster transition on the same timeline. The proposed $12.5 billion transaction has moved the U.S. professional sports valuation benchmark higher, but the final transfer of control still depends on NBA approval.
Frequently Asked Questions
What Is the Los Angeles Lakers Sale Price?
The Los Angeles Lakers agreement is valued at $12.5 billion. If completed, that figure would exceed the $10 billion valuation associated with the franchise’s previous ownership transaction.
Who Is Buying the Lakers?
Josh Kushner and former Disney chief Bob Iger have agreed to acquire the Lakers from Mark Walter. Both have prior ties to professional sports ownership or ownership efforts.
Has the $12.5 Billion Lakers Deal Been Completed?
No. The transaction still requires approval from the NBA Board of Governors and must complete the standard closing process before ownership formally transfers.
How Long Has Mark Walter Controlled the Lakers?
The NBA Board of Governors approved Walter’s majority purchase on Oct. 30, 2025. The new agreement emerged in August 2026, meaning another ownership change was proposed less than a year after that approval.
Who Is the Lakers’ Main Player Going Into the New Ownership Era?
The Lakers’ roster is built around Luka Doncic, who is signed through the 2028-29 season. The ownership transition comes after LeBron James left Los Angeles during the 2026 offseason.
