Josh Kushner, Bob Iger to Buy Lakers for Record $12.5 Billion

American businessmen Josh Kushner and former Disney executive Bob Iger are set to acquire the Los Angeles Lakers for a record $12.5 billion, ESPN reported Wednesday.

According to the network, the pair will purchase a controlling stake from Mark Walter, who acquired majority ownership of the franchise from the Buss family for $10 billion in October 2025. The NBA Board of Governors unanimously approved Walter’s acquisition on Oct. 30.

“As lifelong NBA fans, we are deeply honored by the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” Kushner and Iger said in a joint statement. They added that their goal is to build on the franchise’s legacy, compete at the highest level and serve the team, its supporters and the city of Los Angeles.

Walter, chairman and CEO of diversified holding company TWG Global, also has ownership interests in Premier League club Chelsea and the Professional Women’s Hockey League.

“Owning the Los Angeles Lakers has been one of the great honors of my life,” Walter told ESPN, expressing gratitude to the Buss family, players, staff and fans.

Kushner and Iger had reportedly been involved in efforts to secure an NBA expansion franchise in Las Vegas before turning their attention to purchasing the Lakers. Kushner is the younger brother of Jared Kushner, President Donald Trump’s son-in-law.

The Lakers were originally purchased by Jerry Buss in 1979 for $67.5 million in a deal that also included The Forum in Inglewood, California, and the NHL’s Los Angeles Kings.

Founded in 1947, the Lakers have reached the NBA Finals 32 times and won 17 championships, second only to the Boston Celtics’ 18.