The NBA's regular season isn't scheduled to begin for another two months, but its biggest team is making headlines before the first ball tips off. For the second time in as many years, the Los Angeles Lakers have reportedly been sold for a record-breaking amount.
According to ESPN's Ramona Shelburne, the Lakers are being sold to Josh Kushner and Bob Iger for a price of around $12.5 billion.
Kushner and Iger were initially involved in a bid to bring an expansion team to Las Vegas, but pivoted to the record-breaking deal for the Lakers following last year's sale to Mark Walter for around $10 billion - itself a marquee amount for a pro sports team.
Lakers Sold For Record-Breaking Amount
"As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss," Kushner and Iger said in a statement.
"Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."
Mark Walter called owning the Lakers "one of the great honors of my life," commending the fanbase and ownership structures for welcoming him with open arms. Walter said that the team "belong[s] to Los Angeles" and that he has "every confidence the best is still ahead" when it comes to the team.
Walter is only selling the Lakers from his massive professional sports portfolio, which also includes the Los Angeles Dodgers, WNBA's Sparks, Premier League soccer giants Chelsea, the Professional Women's Hockey League and the Cadillac Formula One Team.
Iger served as Disney's CEO before stepping down earlier this year, ending a run of nearly two decades with the multi-media giant. He joined Kushner's Thrive Capital firm earlier this year, and the Lakers deal is his second foray into sports ownership in the City of Angels.
Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA. I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise. I look forward to…
— Luka Dončić (@lukadoncic) August 12, 2026
Experienced Sports Ownership Comes to LA
Iger and his wife Willow Bay bough Angel City FC from the National Women's Soccer League in 2024 for $250 million, and the team shares a state-of-the-art stadium in Los Angeles with LAFC of Major League Soccer.
Josh Kushner's deal for the Lakers comes after his brother Jared's highly publicized involvement in the controversial plan to sell parts of the World Cup tournament to private equity firms. The proposal was withdrawn by embattled FIFA president Gianni Infantino earlier this month after backlash from football federations around the world.
Kushner has previously owned a stake in the Memphis Grizzlies and currently owns a minority stake in the Miami Heat. He'll need to sell his stake in the Heat in order for the Lakers deal to go through. The deal must also be approved by the NBA's board of governors, who are set to convene next month in New York City ahead of the 2026-27 season.
The 2026-27 campaign will be a year of change for the Lakers as star LeBron James leaves for the Philadelphia 76ers. If all goes according to plan, it appears that the team will also have a new ownership structure.
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