Lakers' $12.5 Billion Bid Signals Shift Toward Private Equity Era
AI-generated image · US National Wire
A pending sale to Bob Iger and Josh Kushner highlights a trend of NBA franchises transitioning from family dynasties to high-valuation investment assets.
As first reported by The Guardian, a $12.5 billion bid from venture capitalist Josh Kushner and former Disney CEO Bob Iger has the Los Angeles Lakers poised to become the most valuable franchise in basketball. The sale is currently under negotiation and requires approval from the NBA's board of governors.
The deal underscores a rapid acceleration of private equity in professional sports. Just 14 months prior, in June 2025, Mark Walter and Todd Boehly purchased a majority stake in the team at a $10 billion valuation. The current bid represents a $2.5 billion increase in valuation in just over a year. While the children of late owner Jerry Buss—who bought the team for $16 million in 1979—currently hold control, they are reportedly debating whether to sell their remaining 17.8% minority stake.
This trend reflects a broader shift in the NBA, which opened its doors to institutional investment from hedge funds, venture capital, and private equity in 2022. The Guardian notes that while some teams like the Chicago Bulls and Indiana Pacers remain under long-term majority ownership, others have exited; Mark Cuban sold his majority stake in the Dallas Mavericks in late 2023 after 24 years.
Because of the massive costs associated with modern NBA ownership and league restrictions—including a rule that prevents any single institutional fund from owning more than 20% of a team—the Iger and Kushner deal will likely be structured as a consortium utilizing a combination of cash and debt.