The Los Angeles Lakers have agreed to a record-breaking $12.5bn (£9.3bn) sale of controlling interest to Josh Kushner and former Disney chief executive Bob Iger, a deal completed in the space of just a weekend that has left the NBA world in shock, according to Yahoo Sports.
News of the transaction broke on a Wednesday, revealing that Kushner had approached majority owner Mark Walter just the previous Friday to discuss acquiring the stake Walter bought only last year. The rapid agreement caught league executives, insiders, and fans off guard with its valuation and speed, as reported by Kahawa Tungu.
If approved by the NBA board of governors, the transaction will become the most expensive sports team sale ever reported. Mark Walter, who had not actively sought to sell his majority share in the franchise, stands to net a $2.5bn (£1.9bn) profit, having previously valued the Lakers at $10bn (£7.4bn) in June 2025.
How the Lakers Valuation Compares Across Global Sports
The scale of the $12.5bn Lakers agreement eclipses several major benchmarks in professional sports franchise valuations. According to reports from Yahoo Sports, the figure surpasses the $6.1bn (£4.5bn) valuation recorded when controlling interest in the Boston Celtics changed hands last year, and is more than three times the $4bn (£3bn) price tag set when Mat Ishbia purchased the Phoenix Suns in 2023.
The deal also outpaces recent acquisitions in American football and European association football. Last month, the NFL’s Seattle Seahawks fetched $9.6bn (£7.1bn). In the English Premier League, Todd Boehly’s consortium paid £2.5bn for Chelsea in 2022 with a total commitment of £4.25bn ($5.7bn), while Manchester United’s Glazer family previously entertained an asking price of £10bn ($13.5bn) before Sir Jim Ratcliffe acquired a 27.7% stake for approximately £1.3bn in 2024.
A Franchise in Transition
The ownership change arrives as the Los Angeles Lakers navigate a sporting pivot. The franchise has not captured an NBA title since 2020, when LeBron James and Anthony Davis secured the organization’s 17th championship. With James confirming his departure at the end of June, Luka Doncic is the team’s leading man, preparing to play under his fifth different owner across just two NBA teams.
“I’ve gotten used to big changes over these last few years,” Doncic wrote on social media, adding that he looked forward to “building something special in LA together,” as cited by Kahawa Tungu.
Despite uncertainty regarding how Kushner and Iger intend to operate the front office, the partnership has already drawn endorsements. Five-time NBA champion Earvin “Magic” Johnson voiced support for the incoming leadership group on social media, telling fans, “Lakers fans, you couldn’t have two better owners. I’ve known Bob personally for over 40 years.”
Next Steps for the Sale
The agreement now awaits formal review and ratification by the NBA board of governors. No timeline has been announced for the league’s vote.
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