Lakers Sale Hits Record $12.5 Billion Valuation

Josh Kushner and Bob Iger are purchasing the Los Angeles Lakers for more than $12.5 billion, as first reported by The Guardian via ESPN. The record-breaking deal follows a brief ownership tenure by Mark Walter, CEO of TWG Global, who acquired a majority stake from the Buss family last year in a deal valued at $10 billion.

The transaction underscores a rapid escalation in NBA franchise values. For comparison, the Boston Celtics were sold last year for just over $6 billion, and Michael Jordan sold his majority stake in the Charlotte Hornets for $3 billion three years ago.

Iger, the former CEO of Disney, and Kushner—whose venture capital firm Thrive Capital recently launched the investment strategy Thrive Eternal—stated they intend to "compete at the highest level" as stewards of the iconic franchise. The sale comes as the team enters a new era led by Slovenian star Luka Dončić following the departure of LeBron James.

While the deal has been reported, it still requires approval from the NBA's board of governors, which is scheduled to meet in September. Mark Walter, who also holds interests in the Los Angeles Dodgers, the Los Angeles Sparks, Chelsea, and the Professional Women’s Hockey League, described the ownership as an "extraordinary investment." Walter is currently denying allegations of tax fraud amid a federal investigation.