Lakers Sold to Josh Kushner and Bob Iger for Record Price

The Los Angeles Lakers are being sold to businessmen Josh Kushner and Bob Iger at a record-breaking price of $12.5 billion. This marks the second significant sale in a year. A source familiar with the agreement, who preferred to remain anonymous, confirmed the details to The Associated Press. ESPN initially reported the purchase by Kushner and Iger, who are acquiring the NBA’s most valuable franchise, previously valued at $10 billion in 2025 when Mark Walter acquired a controlling stake from the Buss family.

Iger and Kushner had been attempting to secure an expansion team for Las Vegas. By purchasing the Lakers, they bypass the wait that could see expansion possibly occurring in the 2028-29 season. The sale needs the NBA’s board of governors’ approval, a process that may take several weeks, with the next board meeting scheduled for New York next month.

The $12.5 billion valuation sets a new record for U.S. pro sports teams and highlights the increasing values of NBA franchises. Three years ago, Michael Jordan sold his majority interest in the Charlotte Hornets at a $3 billion valuation. Additionally, the Boston Celtics changed hands last year for just over $6 billion, a record at the time. Walter’s acquisition of a controlling interest in the Lakers in June 2025 surpassed previous records and now Iger and Kushner have set an even higher bar.

Walter’s purchase received NBA approval in October 2025. He initially took a 27% minority interest in the Lakers in 2021, part of a franchise valuation of $10 billion, the highest for a professional sports team at that time. The Lakers, with 17 championships, stand as the second-most successful NBA team after the Boston Celtics, who have 18 titles. Known globally, the Lakers consistently rank high in league merchandise sales.

This landmark sale occurs just weeks after LeBron James, the NBA’s all-time leading scorer, departed the Lakers after eight seasons. James, having entered free agency, chose to sign with the Philadelphia 76ers.

Tim Reynolds of AP Basketball contributed to this report.