Lakers Sold to Josh Kushner in Record $12.5 Billion Deal

Mark Walter is selling the Los Angeles Lakers to Bob Iger and Josh Kushner for $12 billion, according to ESPN. The price sets a new record for any American sports franchise.

• $12 billion surpasses the $10 billion Walter paid for the team in 2025.
• Iger recently concluded his second term as CEO of Disney.
• Kushner is the younger brother of Jared Kushner, President Trump's son-in-law.
• Both buyers had previously pursued an NBA expansion franchise in Las Vegas.

Why it matters: The back-to-back sales mark a rapid ownership turnover for one of the NBA's most valuable franchises.

• Walter's business is under SEC investigation over disclosures on billions in assets and loans; no wrongdoing has been established.

How 34 sources split on this story

Where they split: Coverage agrees on the facts but differs on whether Walter's quick exit reflects the SEC probe, a pure profit motive, or both.

What’s next: The pivot away from Las Vegas expansion suggests that effort has stalled, according to Heavy.

• NBA gambling scandals and a cap circumvention probe may be slowing any expansion decision.
• Will the NBA approve the sale, and on what timeline?
• Does Iger and Kushner's exit from Las Vegas expansion talks mean the league will not place a team there?