The Los Angeles Lakers are on the verge of a record-breaking ownership change, with billionaire Josh Kushner and former Disney chief executive Bob Iger reportedly agreeing to acquire the NBA franchise for $12.5 billion.
The proposed deal would set a new record for the highest valuation ever placed on a US professional sports team, surpassing the $10 billion valuation attached to Mark Walter’s acquisition of majority control of the Lakers less than a year ago.
Kushner, a venture capitalist and brother of Jared Kushner, and Iger said they were honoured to take responsibility for one of the most recognisable franchises in global sport.
They said their long-term objective was to build on the foundation established by the Buss family, compete at the highest level and strengthen the relationship between the franchise, its supporters and Los Angeles.
The proposed takeover marks a remarkably quick turnaround for Walter, who secured majority control from the Buss family in 2025 at a reported $10 billion valuation. The new transaction still requires approval from the NBA’s Board of Governors and completion of due diligence.
The Lakers have been controlled by the Buss family since Jerry Buss bought the franchise in 1979 for $67.5 million. Following his death in 2013, ownership passed to his children through a family trust before Walter’s takeover.
Walter described his time with the Lakers as one of the great honours of his life, saying his strongest memories would be of the team’s supporters and its connection with Los Angeles.
The franchise enters the new ownership era with 17 NBA championships, one behind the Boston Celtics’ record 18 titles.
There are also significant changes on the basketball side. LeBron James recently left the Lakers for the Philadelphia 76ers, leaving Luka Doncic as the franchise’s leading star.
Doncic welcomed the proposed takeover, saying being a Laker meant everything to him and expressing his desire to help bring another championship to Los Angeles.
The proposed deal also puts Kushner back in the spotlight after his involvement in the failed FIFA Forward Enterprise proposal, through which private investors had been expected to acquire stakes linked to FIFA competitions.
For the Lakers, however, the immediate focus will be on whether the record-setting transaction receives NBA approval and what the new ownership group means for the franchise’s next championship push.
