In a colossal development for the sports world, prominent businessman Josh Kushner and seasoned executive Bob Iger have reportedly completed the acquisition of the legendary Los Angeles Lakers basketball franchise. This monumental transaction, valued at an astonishing $12.5 billion, marks a new chapter for the storied NBA team, promising a blend of fresh leadership and a deep respect for its rich heritage. The deal underscores the enduring allure and substantial market value of elite professional sports organizations, particularly those with a global fanbase and a history of unparalleled success like the Lakers.
Historic Los Angeles Lakers Ownership Transfer: Key Details Unveiled
On Wednesday, August 12, 2026, sources including ESPN disclosed that American entrepreneur Josh Kushner, well-known in business circles, and Bob Iger, the esteemed former chief executive of Disney, have jointly purchased the Los Angeles Lakers. This landmark deal is reportedly set at an unprecedented $12.5 billion, establishing a new benchmark for sports franchise valuations.
The acquisition involves Kushner and Iger securing a controlling interest in the team from Mark Walter. Walter had previously gained majority ownership from the Buss family in October 2025 for $10 billion, a transaction that received unanimous approval from the NBA Board of Governors on October 30, 2025.
In a joint statement, Kushner and Iger expressed their profound honor and commitment: "As passionate NBA enthusiasts, we are incredibly privileged to become custodians of the Los Angeles Lakers, one of the planet's most iconic sports entities. We hold immense admiration for the leadership and strategic vision demonstrated by Jerry and Jeanie Buss. Our long-term goal is to build upon this robust foundation, strive for ultimate competitive excellence, and dedicatedly serve this exceptional team, its devoted fans, and the vibrant city of Los Angeles."
Mark Walter, who also leads TWG Global, a diversified holding company with stakes in Premier League club Chelsea and the Professional Women's Hockey League, reflected on his tenure. In his statement to ESPN, Walter remarked, "Being an owner of the Los Angeles Lakers has been one of the great privileges of my existence – an extraordinary financial venture, but what I will cherish most is the profound sense of community, the unwavering support of the fans, and a city that embraces this team as an integral part of its family." He extended his gratitude to Jeanie Buss, the Buss family, the athletes, and the staff for their welcoming spirit during his ownership, concluding with full confidence that "The Lakers truly belong to Los Angeles, and I am certain that its brightest days are still on the horizon."
Prior to this significant acquisition, reports indicated that Kushner and Iger had explored launching an NBA expansion team in Las Vegas before focusing their efforts on purchasing the Lakers. Josh Kushner is also recognized as the younger brother of Jared Kushner, who is married to Ivanka Trump.
The legacy of the Lakers was firmly established by Jerry Buss, who acquired the franchise in 1979 for $67.5 million. That historic deal also included The Forum in Inglewood, California, and the NHL's Los Angeles Kings. Since its inception in 1947, the Lakers have been a dominant force in professional basketball, reaching the NBA Finals 32 times and securing 17 championships, placing them second only to the Boston Celtics' 18 titles.
This change in ownership heralds an exciting new era for the Los Angeles Lakers, combining substantial investment with dedicated leadership aiming to continue the team's rich tradition of excellence and community engagement.
The acquisition of the Los Angeles Lakers by Josh Kushner and Bob Iger for a staggering $12.5 billion is more than just a business transaction; it's a testament to the enduring power and cultural significance of sports franchises. As a keen observer, one can't help but be inspired by the immense faith placed in the brand equity of the Lakers. It highlights that in an increasingly globalized world, iconic sports teams are not just entertainment entities but valuable assets that resonate deeply with millions. This deal also underscores a broader trend of high-profile investors recognizing the long-term value and community impact of owning a piece of sporting history. It will be fascinating to watch how this new leadership shapes the future of one of the NBA's most celebrated dynasties.
