Los Angeles Lakers Sold Again for Record $12.5 Billion; Luka Doncic Pledges to Bring Championship to LA

Second Sale in Under a Year

The Los Angeles Lakers are being sold for the second time in less than twelve months. Josh Kushner and former Disney CEO Bob Iger have agreed to purchase the franchise from current majority owner Mark Walter for $12.5 billion, a figure that sets a new record for any professional sports team sale anywhere in the world. ESPN’s Ramona Shelburne first reported the deal Wednesday morning, with NBC News and CBS Sports independently confirming the price. The transaction still needs sign-off from the NBA’s board of governors before it closes.
Walter purchased his controlling stake in the Lakers from the Buss family less than a year ago at a $10 billion valuation. He walks away from the deal with a $2.5 billion profit in under twelve months. Walter is keeping the Los Angeles Dodgers, which were not included in this sale. The Buss family owned and operated the Lakers for more than four decades before selling to Walter.

Who Is Buying the Team

Josh Kushner, 40, built his name in venture capital as the founder of Thrive Capital, a New York firm that has backed some of the biggest technology companies of the past decade including OpenAI, Stripe, and Instagram. He co-founded Oscar Health and has previously held minority ownership positions in the Miami Heat and Memphis Grizzlies. NBA rules require him to sell his Heat stake before the Lakers purchase can be finalized. Kushner is the younger brother of Jared Kushner, President Trump’s son-in-law.
Bob Iger, 75, led The Walt Disney Company for nearly two decades, serving as CEO from 2005 to 2020 and again from 2022 until stepping down earlier this year. He and his wife, Willow Bay, are majority owners of Angel City FC in the National Women’s Soccer League. Iger is also an investor in Thrive Capital, which is how his partnership with Kushner developed. The two had previously been in talks to secure an NBA expansion franchise in Las Vegas before pivoting to make an offer for the Lakers instead.
In a joint statement, Kushner and Iger described becoming stewards of the Lakers as a deep honor. They said they have great respect for what the Buss family built over generations and that their commitment is to build on that foundation, compete at the highest level, and serve the team’s fans and the city of Los Angeles for the long term.

Doncic Responds

Luka Doncic, who carries the Lakers heading into next season after LeBron James left for the Philadelphia 76ers, posted his reaction on X shortly after the news broke. He wrote that being a Laker means everything to him and that he is eager to get back on the court and bring a championship to Los Angeles. He added that he has experienced enough big changes over the past few years to know that nothing about this franchise’s potential has a ceiling. He said he looks forward to sitting down with Kushner and Iger to start building something special together in LA.
Doncic arrived in Los Angeles in 2025, coming over from the Dallas Mavericks in a trade that sent Anthony Davis to Dallas. He led the entire NBA in scoring last season at 33.5 points per game and is the clear face of the franchise going forward.

The Road Ahead

The Lakers enter this new ownership chapter without LeBron James, who signed a two-year deal with Philadelphia this summer after eight seasons with the team. The roster has been rebuilt around Doncic and Austin Reaves, with center Walker Kessler added via trade from Utah and several veterans signed in free agency. The franchise has not won an NBA championship since 2020.
Source: ESPN, NBC News, CBS Sports, Fox Business, Yahoo Sports, MyNewsLA