The Los Angeles Lakers are set to be sold for a reported record $12.5 billion (£9.3 billion), less than a year after Mark Walter became the majority owner of the NBA franchise.
Josh Kushner, the brother of US President Donald Trump’s son-in-law Jared Kushner, and former Disney chief executive Bob Iger are reportedly buying the controlling stake in one of the world’s most famous sports teams.
Walter previously bought his stake from the Buss family for a reported $10 billion (£7.45 billion), setting a record at the time. The deal was unanimously approved by the NBA Board of Governors in October 2025.
Kushner and Iger said they were honoured to have the opportunity to take control of the Lakers and promised to build on the foundation established by Jerry and Jeanie Buss.
They also said their goal was to compete at the highest level while serving the team, its supporters and the city of Los Angeles.
Jerry Buss bought the Lakers in 1979 for $67.5 million (£50 million). The deal also included the Los Angeles Kings hockey team and the Los Angeles arena now known as the Kia Forum.
Following Buss’ death in 2013, ownership of the Lakers passed to his six children through a trust before Walter later completed his deal with the Buss family.
Walter, who also owns a stake in the LA Dodgers with Todd Boehly, said owning the Lakers had been one of the biggest honours of his life.
The Lakers have won 17 NBA championships, one behind the Boston Celtics’ record of 18 titles.
Kushner’s involvement comes after he was linked to a recent controversy involving FIFA president Gianni Infantino and an abandoned plan to sell stakes in FIFA competitions to private investors.
Thrive Capital, the US venture capital firm founded by Kushner, was expected to lead the proposed investment group for the FIFA Forward Enterprise proposal.
Lakers face new era
The Lakers recently lost LeBron James, the NBA’s all-time leading scorer, after the 41-year-old joined the Philadelphia 76ers.
Luka Doncic, who joined the Lakers from the Dallas Mavericks in February 2025, is now the team’s main star and has welcomed the change in ownership.
Doncic said being a Laker means everything to him and that he is looking forward to helping the team win another championship in Los Angeles.
He also said he was excited to meet Kushner and Iger and begin working towards building something special with the franchise.
