Kushner and Iger Buy Lakers at Record $12.5 Billion Valuation

How the Lakers Changed Hands Twice in Ten Months for a Record Price

Josh Kushner and Bob Iger have agreed to acquire the controlling stake in the Los Angeles Lakers at a $12.5 billion valuation, breaking the record for a professional sports team purchase. The deal comes less than a year after Mark Walter completed his own $10 billion acquisition of the Lakers' controlling interest from the Buss family, a transaction that itself had set the previous record.

The rapid flip is unusual. Before Walter's ten months in control, no owner who had bought an NBA team since 2000 had held it for less than five years. Iger told the California Post that he and Kushner quickly dropped a separate plan to pursue a potential Las Vegas NBA franchise once the Lakers opportunity surfaced, and that the deal was completed in three days.

The purchase resets valuation benchmarks across US major-league sports. Other recent records include a $9.6 billion agreement for the Seattle Seahawks led by Vinod Khosla, a $6.1 billion Boston Celtics deal, and a $3.9 billion sale of the San Diego Padres. The Lakers are now the only NBA team to change hands more than once in the past 15 years.

Walter retains his controlling stake in the Los Angeles Dodgers, which he bought in 2012 for $2.15 billion and which is now valued at $7.8 billion.

Why the Kushner–Iger Deal Resets NBA Franchise Benchmarks

The premium that resets the whole NBA

The $12.5 billion Lakers price is far above the league's recent valuation anchor. Last year, NBA teams traded at an average multiple of about 12.9 times prior-season revenue, and Walter's $10 billion purchase implied roughly 18 times the Lakers' projected $551 million in 2024-25 revenue. That makes the new deal an even richer multiple. Forbes data shows how a single premium sale can reprice an entire league: when Steve Ballmer paid $2 billion for the Clippers in 2014, the average NBA team value jumped 74% in one year, from $634 million to $1.1 billion.

For other owners, the Kushner–Iger transaction is not just a Lakers story; it becomes the new anchor for future control-stake negotiations. Recent NFL and MLB records show the same dynamic spreading beyond basketball.

Why Mark Walter sold after ten months

Walter's exit is both a financial success and a strategic surprise. The move from $10 billion to $12.5 billion implies a roughly 25% return within about ten months, well above the league's typical annual revenue growth pace. That speed of turnover was previously unheard of: no owner who had bought an NBA team since 2000 had held it for less than five years before Walter's control period.

Bloomberg has reported that Walter's TWG Global faced questions over loans from two insurance companies it owns to other controlled entities, and that after the Lakers sale was announced Walter was in talks with investors to raise funds to repay those loans. The source article states the investigation is unrelated to his Guggenheim Partners role and sports investments, so this should not be read as an official link to the sale; it does, however, add a potential liquidity context around the timing.

The Kushner–Iger calculation

Iger's account points to a classic scarcity buy: the partners abandoned a Las Vegas expansion plan because the Lakers were immediately available and iconic. Paying a record valuation for a global brand in a league with limited franchises is a long-duration bet on continued franchise appreciation, similar to Ballmer's earlier Clippers purchase, which has since risen to a measured value of $7.5 billion.

The risk is equally specific: if the Lakers' financial performance grows at normal league rates rather than trophy-asset rates, the richer multiple leaves less margin for error than the 12.9x league average.

What the Lakers Record Sale Means for Owners, Buyers and Rivals

• For prospective sellers: The Lakers' ten-month, 25% gain shows compressed hold periods can be profitable, but the club remains an outlier. A sale at a new benchmark requires a brand with comparable global reach and scarcity, not just any NBA franchise.
• For NBA and other major-league owners: Use the new anchor to reassess control-stake values. The Lakers deal follows an 18-times multiple on the team's $551 million revenue base and points to an even higher multiplier, so group valuations may reflect the premium comp even if underlying revenue growth has not accelerated.
• For investors weighing sports assets: Treat the Kushner–Iger entry price as a liquidity test. The three-day decision and abandoned Las Vegas plan show how quickly trophy assets can clear, but also how little margin a record multiple leaves if franchise revenue growth slows.
• For those tracking Mark Walter: Watch whether the reported investor talks to repay TWG Global insurance-company loans produce any follow-on asset sales. Walter still controls the $7.8 billion Dodgers and has not indicated a sale, but the Lakers exit at $12.5 billion is likely to increase buyer attention on the baseball franchise.