Lakers sold for record $12.5bn as Kushner and Iger take control from Walter

The Los Angeles Lakers have been sold to Josh Kushner and former Disney chief executive Bob Iger for $12.5 billion, setting a new benchmark for NBA franchise valuations. The transaction transfers ownership from Mark Walter, who acquired the historic franchise just 14 months prior for $10 billion. The sale excludes Walter’s other sports assets, specifically the Los Angeles Dodgers and the Los Angeles Sparks.

Kushner and Iger, who had previously explored acquiring an expansion franchise in Las Vegas, pivoted to secure control of the Lakers. In a joint statement, the new owners expressed their commitment to the franchise’s legacy. “As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers,” they said. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

Walter, the chief executive of New York-based investment firm Guggenheim Partners, sold the team amid ongoing regulatory scrutiny. Federal prosecutors in Manhattan are reportedly examining Guggenheim’s money management arm regarding undisclosed loans, while the Securities and Exchange Commission is investigating undisclosed private credit holdings. Despite these challenges, the NBA had unanimously approved Walter’s initial bid to acquire the Lakers in June 2025.

The Lakers enter this new era with a shifted on-court leadership structure. Following LeBron James’s departure to the Philadelphia 76ers, the team is now centred around Luka Dončić, alongside Austin Reaves and recently acquired big man Walker Kessler. The franchise has not won a championship since 2020, winning only three playoff series in that period and advancing past the second round just once.

The team currently holds the sixth-best odds at plus-2500 to win the Western Conference, according to FanDuel, facing stiff competition from teams such as the Oklahoma City Thunder and San Antonio Spurs. Walter, who also owns the Los Angeles Sparks and the entire PWHL, described the sale as a transition of a team that belongs to Los Angeles. “I have every confidence the best is still ahead,” Walter said.