The Los Angeles Lakers have been sold to a group led by American businessmen Josh Kushner and former Disney CEO Bob Iger for a record-breaking $12.5 billion, according to reporting confirmed across multiple outlets including ESPN and Sports Yahoo.
The agreement was finalized rapidly after Kushner and Iger approached Walter with their offer. While the deal still requires formal approval from the NBA, it doubles the $6 billion price tag fetched by the rival Boston Celtics earlier in 2025 and leaves Walter with an estimated $2 billion gross profit before taxes.
“Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said in a public statement reported by the Daily Mail.
Record Valuation and the Quick Exit for Mark Walter
Mark Walter’s tenure atop the Lakers organization proved remarkably brief. Despite relinquishing the Lakers, Walter will retain his ownership stake in Major League Baseball’s Los Angeles Dodgers.
The swift sale arrives while Walter’s broader business dealings face federal scrutiny. According to reports from Sports Yahoo, Walter is the subject of an ongoing federal probe examining whether he properly disclosed loans tied to his companies, though neither Walter nor league insiders have cited the investigation as the catalyst for the Lakers sale. Walter’s companies have consistently denied any wrongdoing.
For a franchise originally purchased by Jerry Buss for $67.5 million in 1979, the $12.5 billion valuation cements the Lakers as one of the most valuable assets in sports.
Leadership Continuity and the New Ownership Vision
When Walter purchased the team, an agreement was established to keep Jeanie Buss in her role as team governor for a five-year term. Bob Iger confirmed to reporters that the incoming ownership group intends to fully honor that continuity agreement, ensuring that the Buss family’s operational footprint remains intact during the transition.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” Kushner and Iger said in a joint statement published by Sports Yahoo. “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.”
Both Kushner and Iger enter the NBA owner’s box with extensive backgrounds in corporate business and media. Kushner co-founded Thrive Capital and Oscar Health, while Iger recently finished his second high-profile tenure as Chief Executive Officer of the Walt Disney Company—a corporate giant maintaining longstanding broadcast partnerships with the NBA through ESPN. Iger and his wife, Willow Bay, also hold controlling ownership of Angel City FC in the National Women’s Soccer League.
Player and Legend Reactions Across the NBA
The staggering buyout drew immediate responses from key figures within the organization. Lakers star guard Luka Dončić, who anchors the team following a 53-29 regular season and a trip to the Western Conference semifinals, voiced optimism about the franchise’s direction on social media.
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Dončić wrote in a statement highlighted by the Daily Mail. “I look forward to meeting Josh and Bob so we can get to work building something special in LA together.”
Former controlling owner Jeanie Buss acknowledged the transition online with a brief two-word endorsement. Meanwhile, franchise legend and Dodgers co-owner Magic Johnson publicly celebrated the incoming partnership, highlighting his four-decade personal relationship with Iger and expressing confidence in the new leadership.
“Laker fans, you couldn’t have two better owners,” Johnson wrote on X, as reported by the Daily Mail. “I’ve known Bob personally for over 40 years – he has always loved the Lakers and basketball and he will bring championships back to LA.”
Next Steps for the Franchise
The transaction now moves to the NBA for formal review and voting.
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