Lakers sold for $12.5 billion in record sports deal
A consortium led by Bob Iger and Josh Kushner completes a $12.5 billion acquisition of the Los Angeles Lakers in a rapid transaction that underscores the sector’s growing dominance and liquidity.
A group led by former Disney chief executive Bob Iger and investor Josh Kushner has agreed to purchase a majority stake in the Los Angeles Lakers for $12.5 billion from Guggenheim Partners CEO Mark Walter. The transaction, which was finalised in approximately 72 hours, establishes a new record for sports franchise valuations and highlights the expanding influence of private equity in professional sports.
The sale underscores the growing influence of private equity in professional sports, with owners tied to private equity funds reportedly holding stakes in 20 of the 30 NBA franchises. Private equity firms are increasingly active across North American and international sports, including Apollo Sports Capital’s recent minority stake acquisition in the New York Yankees and stakes in Atletico Madrid and Wrexham.
NFL franchise valuations have risen 31% year-on-year to an average of $7.4 billion, according to Sportico. MLB rules cap private equity ownership in teams at 30%, with a single fund limited to 15%, while NBA and NHL rules allow individual funds to own up to 20% of a single team.
The deal’s rapid completion may be linked to Mark Walter and his conglomerate, TWG Global, facing investigations by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Walter purchased the Lakers from the Buss family in October 2025 for $10 billion, a deal approved by the NBA’s Board of Governors.
The Los Angeles Lakers are considered a “crown jewel” franchise, with valuations rising from $10 billion to $12.5 billion in one year. Institutional investors held stakes in 74 North American pro sports teams as of May, driven by predictable revenues and stable long-term returns.
Jeff Shaffer of Alvarez & Marsal previously led the carve-out of the YES Network from Fox and Disney in 2019. Greg Bettinelli of The Chernin Group has previously bought and sold stakes in companies such as Slack, Oura, Ro, Barstool Sports, and The Action Network.
The transaction highlights the liquidity and sophistication of the current sports investment market, where multi-billion dollar deals can be executed in days rather than months. This speed reflects the appetite of institutional investors to deploy capital into high-value assets with stable returns, a trend that is reshaping the ownership landscape of major professional leagues.
