Bob Iger and Joshua Kushner Buy Lakers at $12.5 Billion Valuation

The Lakers' Second Sale in a Year: Iger and Kushner Take Over

The Los Angeles Lakers are changing hands again less than a year after Mark Walter bought a controlling stake. Walter has sold his majority equity in the NBA franchise to former Disney CEO Bob Iger and Thrive Capital founder Joshua Kushner, according to a joint statement from Iger and Kushner. A person familiar with the matter says the deal values the Lakers at $12.5 billion; Walter had acquired the team in October at a $10 billion valuation.

In their statement Wednesday, Iger and Kushner pledged to be long-term stewards of what they called one of the most iconic sports franchises in the world. They specifically praised the leadership and vision of Jerry and Jeanie Buss and said their commitment is to build on that foundation, compete at the highest level, and serve the team, its fans and Los Angeles.

Iger's arrival in the investor group extends an existing relationship. He joined Thrive Capital, Kushner's venture capital firm, earlier this year, after stepping down as Disney's CEO following two stints that together spanned roughly 20 years. Iger and his wife, Willow Bay, also bought Angel City Football Club for $250 million in 2024. Kushner is the brother of Jared Kushner, who is married to President Donald Trump's daughter Ivanka.

The transaction does not appear to include Walter's other sports holdings. The source said the sale announced Wednesday covers only his Lakers stake. Walter's broader portfolio, controlled through TWG Global, includes a stake in Major League Baseball's Los Angeles Dodgers and English Premier League club Chelsea, as well as part of the investor group that owns the WNBA's Los Angeles Sparks.

Why Mark Walter Exited and What the Price Says About NBA Franchise Values

Walter's Exit Follows a Fast Rise in Value and a Cloud of Questions

Walter's holding period was unusually short. If the reported valuations are accurate, the Lakers moved from $10 billion in October to $12.5 billion now, a roughly 25 percent increase in less than a year. That rapid mark-up is a striking data point for elite NBA franchise values, though the source does not say whether the sale price accounts for debt, minority discounts or other terms that could affect the true economic value of the deal.

The Iger-Kushner Partnership Already Has a Sports Foundation

Iger joined Thrive Capital earlier this year, and his 2024 purchase of Angel City Football Club with Willow Bay gives him direct team-ownership experience. The pair had also previously expressed interest in buying an NBA expansion team in Las Vegas. Buying the Lakers, however, is a different order of magnitude: it moves them from prospective or smaller-scale sports investors to controlling stewards of one of the league's most valuable brands.

Legal and Health Reporting Surrounds the Seller's Wider Empire

Bloomberg reported last month that the SEC and U.S. prosecutors are investigating potential financial improprieties at two of Walter's insurance companies and at Guggenheim Partners, the firm he co-founded. The Wall Street Journal separately reported that Walter had a stroke in 2024 and that his health has become a concern inside his business empire. Those reports concern Walter's broader holdings, not the Lakers transaction itself, and no party has described them as the reason for the sale. But they provide important context for why a buyer who owned the team for less than a year would exit.

What This Means for the Buss Family and the Lakers Brand

The statement's direct praise of Jerry and Jeanie Buss suggests the new owners want continuity in the franchise's basketball leadership, but the announcement does not specify whether Jeanie Buss's operating role changes. The risk for Iger and Kushner is less about basketball decisions and more about managing a public-facing institution while the seller's financial and health troubles play out elsewhere. Their statement attempts to separate those issues by focusing on the Lakers' legacy and the Los Angeles community.

What the Lakers' New Ownership Changes in Practice

For the Lakers' basketball and business operations: The immediate question is governance and leadership continuity. The joint statement backs Jerry and Jeanie Buss, but the source does not detail whether Jeanie Buss's operating responsibilities change. Any internal succession or budget process tied to the ownership transition should be treated as unresolved until the franchise formally clarifies roles.

• Lakers stakeholders: The reported valuation jumped from $10 billion in October to $12.5 billion now. That roughly 25 percent increase is a franchise-specific marker, not a public-market index; it primarily reflects the scarcity value of the Lakers and the buyers' long-term franchise strategy.
• NBA team owners and prospective sports investors: This transaction is another signal that marquee NBA assets continue to command premium prices. But the deal is limited to the Lakers and does not resolve the separate legal and health-related reporting around Walter's insurers, Guggenheim and other sports holdings.
• Mark Walter's counterparties and business partners: The source says Walter is exiting only the Lakers stake. Anyone assessing his other ventures should rely on the actual scope of those investigations rather than treating this sale as a broader resolution.