Kushner and Iger Agree to Reported $12 Billion Los Angeles Lakers Purchase

Lakers Change Hands at a Record $12 Billion Price

The Los Angeles Lakers are set to change owners again. Thrive Capital founder Josh Kushner and former Disney CEO Bob Iger have reached an agreement to buy the NBA franchise from Mark Walter for more than US$12 billion, according to ESPN, which cited multiple sources. If completed at that price, the transaction would be the largest ever for a US sports franchise.

The sale comes only about a year after Walter bought his majority stake in the team from the Buss family at a US$10 billion valuation. Walter, CEO of Guggenheim Partners, described his short period as owner as an “extraordinary investment.” The new buyers said in a statement to ESPN that they were “deeply honored” to become custodians of the Lakers.

The reported price moves the Lakers past the previous record for a US sports franchise control deal: Vinod Khosla's roughly US$9.6 billion agreement for the NFL's Seattle Seahawks earlier this year. It also exceeds Walter's own Lakers purchase and the roughly US$6.1 billion paid for the Boston Celtics by a group led by Bill Chisholm in 2025.

Forbes last year ranked the Lakers as the NBA's second-most valuable franchise at US$10 billion, behind the Golden State Warriors at US$11 billion and ahead of the New York Knicks at US$9.75 billion and the Los Angeles Clippers at US$7.5 billion. The new deal, if approved, would reset the market's view of what a marquee basketball franchise is worth.

What the Kushner-Iger Deal Means for NBA Franchise Values

Sports franchises have become a distinct billionaire asset class, and the Lakers sale is the latest and largest data point in that shift. The reported price is roughly 20% above the valuation from only a year ago, a rapid appreciation even for a team with the Lakers' brand strength.

The Kushner-Iger Partnership

Josh Kushner brings access to capital and a technology network through Thrive Capital, whose early investments included Instagram, Spotify, Stripe and OpenAI. Bob Iger adds decades of media, entertainment and brand experience from Disney. That combination suggests the new ownership group is likely to focus on the Lakers' media rights, global brand partnerships and direct-to-consumer opportunities rather than basketball operations alone.

Why the Price Exceeds the Previous Record

The reported US$12 billion-plus valuation compares with the US$9.6 billion paid for the Seattle Seahawks and the US$10 billion attributed to the Lakers in last year's Forbes ranking. Scarcity is the main driver: there are only 30 NBA teams, and the Lakers are one of the few global franchises with consistent competitive relevance and a large media market. A record multiple for a top-tier NBA team also reflects demand from ultra-high-net-worth investors who can hold the asset for long periods.

Where This Leaves Mark Walter and Guggenheim

Walter's own words—“an extraordinary investment”—underline the financial nature of the transaction. He and Guggenheim would be selling a stake bought only a year earlier at a US$10 billion valuation for a reported US$12 billion-plus, while continuing to own the Los Angeles Dodgers through Guggenheim Baseball Management. The short holding period signals that some buyers are treating marquee sports assets as opportunistic financial investments rather than generational family holdings.

What the Deal Means for Other NBA Franchises

The Lakers' new benchmark is likely to pull up valuations for other top teams. With Forbes recently pegging the Warriors at US$11 billion and the Knicks at US$9.75 billion, the reported Lakers price may force a re-rating of those franchises and make minority-stake sales more expensive. It also widens the gap between a handful of global brands and the rest of the league.

What the Record Sale Means for the Business of Sports

For investors, team owners and executives in the sports and media business, the reported Lakers sale sets a new reference point. The following implications follow directly from the figures and people involved.

• Franchise investors: The jump from a US$10 billion valuation last year to a US$12 billion-plus deal means buyers of top-tier NBA assets should model a premium above recent Forbes valuations, especially for Los Angeles and New York franchises.
• Existing NBA owners: The Lakers price now exceeds the reported US$9.6 billion Seahawks record and sits above the Warriors' US$11 billion and Knicks' US$9.75 billion Forbes valuations, creating new leverage for owners selling minority stakes.
• Media and sponsorship partners: With Bob Iger's Disney background and Josh Kushner's Thrive Capital network, partners with streaming, brand and technology assets should expect the Lakers to explore broader media and commercial partnerships after any league approval and closing.
• Lakers employees and fans: The ESPN report describes an ownership agreement, not an operational change; the next practical milestone is the completion of the deal and any required NBA review, after which the new group's strategic priorities should become clearer.