Josh Kushner and Bob Iger to Buy Los Angeles Lakers in Record $12 Billion Deal

Venture capitalist Josh Kushner and former Disney CEO Bob Iger agreed on August 12, 2026, to buy the Los Angeles Lakers from billionaire Mark Walter for a reported price of more than $12 billion — a valuation that would set a new benchmark for a North American sports franchise. The deal, first reported by ESPN, ends Walter’s stint as majority owner less than a year after he completed a $10 billion control purchase from the Buss family in October 2025.

Kushner and Iger said they plan to steward one of the NBA’s most storied brands while competing at the highest level. Walter, who also leads Guggenheim Partners and remains majority owner of the Los Angeles Dodgers, said he was grateful for his time with the Lakers and expressed confidence in the franchise’s future under new ownership.

Editor’s note: This article draws on ESPN reporting, statements cited by Fox Business, the Los Angeles Times, and other U.S. sports and business outlets on August 12, 2026. Deal terms may be updated as filings and league approvals are completed.

Who are Josh Kushner and Bob Iger?

The buyers bring very different résumés to the table, but both have been active in high-profile sports and media deals.

Person	Background	Lakers connection
Josh Kushner	Founder of Thrive Capital and co-founder of Oscar Health; younger brother of Jared Kushner	Previously explored an NBA expansion bid in Las Vegas through Thrive Eternal, a holding vehicle for cultural assets
Bob Iger	Two-term CEO of The Walt Disney Company; stepped down as CEO in March 2026	Still a Disney senior adviser and board director through December 31, 2026; no corporate Disney funding has been reported for this purchase

Reports describe the acquisition as a personal investment by Kushner and Iger, not a Disney corporate transaction. Disney shares moved modestly on the news as investors weighed Iger’s ongoing advisory role against the scale of a private deal.

How the deal unfolded

The Lakers sale marks a rapid ownership turnover for a franchise that had been controlled by the Buss family for decades.

Buss era to Walter

• Dr. Jerry Buss built the modern Lakers dynasty; after his death in 2013, his children inherited the team.
• Jeanie Buss served as team governor and face of ownership through the 2020 championship season.
• Walter first bought a minority stake in 2021, then closed on a majority control purchase on October 30, 2025, at a $10 billion valuation — then the highest control-sale price in U.S. team sports.
• That sale ended roughly 46 years of primary Buss family control while keeping Jeanie Buss in an operational leadership role.

Walter to Kushner and Iger

• On August 12, 2026, ESPN reported that Walter agreed to sell the Lakers to Kushner and Iger at a price above $12 billion, surpassing the record he had set only months earlier.
• Multiple outlets cited figures around $12.5 billion; the parties have not publicly filed a final audited purchase price.
• Kushner and Iger had been linked to a potential Las Vegas NBA expansion franchise earlier in 2026 before pivoting to pursue the Lakers outright.

The speed of the flip surprised many observers: Walter had celebrated the Buss transaction as a long-term commitment, and the NBA had unanimously approved his purchase less than a year before the resale reports emerged.

What Kushner, Iger, and Walter said

In a joint statement to ESPN quoted across U.S. media on August 12, Kushner and Iger said:

“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. 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.”

Walter, in his own statement to ESPN, framed the sale as completing a chapter rather than abandoning the club:

“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”

Neither statement detailed financing structure, minority partner stakes, or the exact timeline for league approval.

Why the price matters

A $12 billion-plus valuation would extend a steep climb in NBA franchise prices:

Transaction	Year	Reported control valuation
Washington Commanders (NFL)	2023	~$6.05 billion
Boston Celtics (NBA)	2025	~$6.1 billion
Los Angeles Lakers (Walter purchase)	2025	$10 billion
Los Angeles Lakers (Kushner/Iger reported deal)	2026	>$12 billion

Drivers behind the numbers include global media rights growth, the Lakers’ marquee brand, Crypto.com Arena revenue, and investor appetite for scarce major-market teams. The deal also signals that elite NBA assets may trade at multiples far above earlier NFL benchmarks.

For Kushner, the purchase aligns with Thrive’s pattern of backing category-defining consumer and technology brands. For Iger, it adds a flagship sports asset at a moment when live sports rights remain central to streaming and broadcast strategy — even outside Disney’s corporate balance sheet.

Jeanie Buss and day-to-day operations

When Walter bought control in 2025, reports said Jeanie Buss would remain governor of the Lakers and continue overseeing day-to-day basketball operations for the foreseeable future. Early reporting on the Kushner–Iger deal did not immediately clarify whether that governance structure would change.

The Buss family’s emotional and symbolic tie to the franchise remains part of the Lakers’ identity: 17 championships, 11 won during Buss ownership, with the most recent title in 2020. Any new owners will inherit fan expectations shaped by legends from Magic Johnson and Kareem Abdul-Jabbar to Kobe Bryant and LeBron James.

League approval and what’s next

Majority ownership changes in the NBA require Board of Governors approval. Walter’s 2025 purchase received unanimous consent; a resale at a higher valuation would likely face similar scrutiny on buyer qualifications, debt levels, and long-term stability.

Outstanding questions for fans and analysts include:

• Final purchase price and debt financing
• Whether Jeanie Buss or other Buss family members retain equity
• How Kushner and Iger plan to fund roster spending amid tightening salary-cap rules
• Whether the Las Vegas expansion pursuit is fully shelved

The Lakers are among the NBA’s most visible franchises every season; ownership stability — or volatility — can influence everything from free-agent pitches to arena upgrades and global marketing partnerships.

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Discussion

The Lakers are not just a basketball team in Los Angeles — they are a global luxury brand priced like one.

1. Does a $12 billion Lakers price make sense, or is sports ownership overheating?

Franchise values have doubled repeatedly in a few years. Is that sustainable media economics, or a bubble tied to streaming wars and scarce assets?

2. What should Kushner and Iger prioritize first — winning now, long-term brand building, or financial return?

New money often promises championships. Lakers fans have heard that before. Where would you draw the line between patience and urgency?

3. Should a former Disney CEO buying the Lakers raise questions about conflicts with his remaining Disney advisory role?

Iger’s deal appears personal, not corporate — but the optics of elite crossover between entertainment and sports keep growing. Does that bother you as a fan or investor?

If you’ve followed the Lakers through the Buss era, Walter’s brief tenure, or the Las Vegas expansion rumors — what ownership change would actually change how you support the team?