Los Angeles Lakers to be sold for record US$12.5 billion

Josh Kushner and former Disney CEO Bob Iger have reached an agreement to purchase a controlling interest in the Los Angeles Lakers from Mark Walter. The deal values the NBA franchise at a record US$12.5 billion, the highest ever for a professional sports team sale.

Mark Walter, who acquired the Lakers in October 2025 for approximately US$10 billion, is reportedly selling due to financial and regulatory pressures. Investigations by federal prosecutors and the US Securities and Exchange Commission are reportedly examining whether entities under his control adequately disclosed certain transactions. Walter has not been charged with any crime.

Josh Kushner, the founder of Thrive Capital with an estimated net worth of over US$5 billion, and Iger assembled the transaction in just three days. The sale remains subject to approval from the NBA’s board of governors, which is scheduled to meet in September.