Bob Iger and Joshua Kushner Buy LA Lakers for Record $12.5 Billion
The Los Angeles Lakers are changing hands for $12.5 billion, as former Disney CEO Bob Iger and Thrive Capital founder Joshua Kushner reach an agreement to purchase the iconic NBA franchise from Mark Walter, according to reports published by ESPN, The Athletic, and the Los Angeles Times on August 12, 2026.
The Business Mechanics of a $12.5 Billion Valuation
Less than a year after Dodgers owner Mark Walter bought the Lakers from the Buss family for a reported $10 billion, the franchise valuation has jumped by $2.5 billion. According to reports from the Los Angeles Times, Walter’s swift exit follows a turbulent period involving federal investigations into his insurance companies and Guggenheim Partners, alongside health concerns reported by The Wall Street Journal regarding a 2024 stroke. The transaction includes only Walter’s majority stake in the Lakers and does not involve his ownership interests in the Los Angeles Dodgers, the WNBA’s Los Angeles Sparks, or English Premier League club Chelsea, as detailed by CNBC.
For Iger and Kushner, the acquisition fulfills a long-standing ambition to control a premier sports property. The pair had previously explored launching an NBA expansion franchise in Las Vegas or Seattle. Kushner, who founded venture capital firm Thrive Capital and serves as the younger brother of Jared Kushner, previously held minority stakes in the Memphis Grizzlies and the Miami Heat—the latter of which he must divest to finalize the Lakers purchase, per Los Angeles Times reporting. Iger, who stepped down as Disney CEO in mid-March while maintaining a board seat through December, partnered with his wife, Willow Bay, to purchase NWSL club Angel City FC in 2024.
Continuity and Leadership on the Court
Despite the rapid turnover at the ownership level, leadership stability remains a focal point for the organization. Jeanie Buss, whose family guided the franchise for over four decades, stayed on as governor following Walter’s initial purchase last October under an agreement ensuring her governance role for at least five years. Lakers legend Magic Johnson expressed approval of the incoming ownership group in an interview with the Los Angeles Times, noting their shared passion for basketball.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,“ Iger and Kushner said in a joint statement cited by ESPN and CNN. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.“
Patrick Soon-Shiong, owner of the L.A. Times Media Group and a minority owner of the Lakers, welcomed the transition on social media, writing on X, “Go Lakers! Congrats Bob and Josh.“ With regulatory approvals pending and ownership divestments required in Miami, Iger and Kushner step into a high-pressure media and sports market facing immediate roster construction decisions and long-term brand expansion goals.
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