Basketball’s most glamorous franchise enters another ownership era.
Los Angeles, August 2026
The Los Angeles Lakers are being sold to an investment group led by venture capitalist Joshua Kushner and former Disney chief executive Bob Iger in a transaction valued at approximately $12.5 billion. If approved by the NBA’s board of governors, the agreement will establish a new record for the purchase of a professional sports franchise in the United States.
The deal represents another remarkable change for a team that spent nearly half a century under the control of the Buss family. Mark Walter acquired a controlling interest in the Lakers in 2025 through a transaction that valued the organisation at approximately $10 billion. Less than a year after the NBA approved that acquisition, Walter has agreed to transfer the franchise at a valuation roughly 25 per cent higher.
Kushner and Iger described themselves as lifelong NBA supporters and said they were honoured to become stewards of one of the world’s most recognisable sporting institutions. Their statement emphasised respect for Jerry and Jeanie Buss, a commitment to competing at the highest level and a responsibility to serve the team’s supporters and the wider Los Angeles community.
The word “stewards” carries particular weight in this transaction. The Lakers are not simply a basketball team whose value can be calculated through annual revenue, operating income or arena attendance. They are a cultural property whose identity has been shaped by generations of players, championships, Hollywood proximity and an international audience that extends far beyond the NBA’s domestic market.
The franchise has won 17 NBA championships, placing it behind only the Boston Celtics in league history. Its mythology includes George Mikan, Elgin Baylor, Jerry West, Wilt Chamberlain, Kareem Abdul-Jabbar, Magic Johnson, Shaquille O’Neal, Kobe Bryant and LeBron James. Few sporting organisations can connect so many different eras while maintaining the same level of commercial relevance.
That legacy helps explain why the Lakers can command a valuation larger than those achieved by other prominent American teams. The purchase price is not based solely on current performance. It reflects media rights, global merchandise sales, sponsorship potential, intellectual property, digital audiences and the scarcity of franchises capable of reaching consumers across multiple continents.
The transaction also demonstrates how rapidly professional basketball values have accelerated. Michael Jordan sold his majority interest in the Charlotte Hornets at a valuation of approximately $3 billion in 2023. The Boston Celtics later reached a valuation exceeding $6 billion, before the Lakers crossed the $10 billion threshold under Walter’s acquisition.
A $12.5 billion agreement changes the reference point again. It suggests that elite sports franchises are increasingly being treated as rare global assets rather than conventional teams. Investors are purchasing a combination of live entertainment, media distribution, urban identity, consumer loyalty and long-term control over content that remains valuable even as technologies and viewing habits evolve.
Iger brings extensive experience in global entertainment, media strategy and intellectual property management. During his years leading Disney, he oversaw a company built around the international expansion of established brands and the integration of film, television, streaming, tourism and consumer products. He and his wife, Willow Bay, also became controlling owners of Angel City FC, the Los Angeles women’s football club.
Kushner brings a different financial profile. As the founder of Thrive Capital, he has built his reputation through investments in technology and high-growth companies. He has also held minority interests in NBA teams, although those holdings would have to be addressed under league ownership rules before the Lakers transaction could be completed.
The partnership had previously been connected to efforts to secure a future NBA expansion franchise in Las Vegas. Acquiring the Lakers provides immediate entry into the league’s highest commercial tier without waiting for an expansion process that remains dependent on decisions by the NBA and its existing owners. It also redirects their ambitions from building a new franchise to managing one of the most historically demanding brands in sport.
Walter’s decision to sell after such a short period has surprised the basketball industry. His ownership interests include the Los Angeles Dodgers, Los Angeles Sparks, Chelsea Football Club and several motorsport operations. During his brief period controlling the Lakers, the organisation began expanding its basketball and commercial departments in an effort to modernise structures that some observers considered too dependent on the traditional Buss family model.
The new owners will inherit a franchise undergoing transformation both on and off the court. The Lakers are now centred on Slovenian star Luka Dončić, whose long-term presence gives the organisation a foundation for its next competitive cycle. At the same time, LeBron James’ departure closed another major chapter and left the team facing questions about leadership, roster construction and championship expectations.
Jeanie Buss’ future role will also require clarification. Walter’s earlier agreement allowed her to remain the Lakers’ governor, preserving a visible connection to the family that had owned the team since Jerry Buss purchased it in 1979. The latest ownership structure may redefine that arrangement, although any decision involving the Buss legacy will carry emotional significance for supporters.
The sale remains subject to formal league approval, a process that includes financial examination and scrutiny of the proposed ownership group. Until the NBA’s governors authorise the transaction, the agreement should be understood as pending rather than completed. The price, governance structure and treatment of existing minority interests will form part of that review.
For the NBA, the valuation provides powerful evidence of the league’s expanding economic influence. It strengthens the position of every owner by raising expectations for future franchise values, while also making entry into the league increasingly inaccessible to individuals without institutional capital or powerful investment partners.
For supporters, however, the central question will not be whether the Lakers are worth $12.5 billion. It will be whether the new owners can convert financial power into stable leadership, sporting intelligence and another championship era. In Los Angeles, valuations attract attention, but banners remain the final measure of ownership.
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