The Los Angeles Lakers are heading toward another major ownership change, with Joshua Kushner and former Disney chief Bob Iger set to purchase the storied NBA franchise in a deal that values the team at $12.5 billion.
The agreement would mark a remarkably quick turnaround for the Lakers. Mark Walter acquired a majority stake in the franchise roughly 14 months ago in a transaction that valued the club at $10 billion. The new deal represents a $2.5 billion increase in valuation over that short period.
The transaction is not yet final. It still requires approval from the NBA Board of Governors and is also subject to due diligence connected to Thrive Eternal, an investment strategy launched by Kushner’s Thrive Capital.
Kushner and Iger said they view the opportunity as a long-term commitment to one of professional sports’ most recognizable organizations. They credited Jerry and Jeanie Buss for shaping the Lakers’ legacy and said their goal is to build on that foundation while competing at the highest level.
The speed of the ownership change has caught much of the sports business world off guard. Veteran agent Leigh Steinberg noted that it is unusual for a franchise of the Lakers’ stature to change hands again so soon, particularly after such a substantial increase in value.
Lakers legend Magic Johnson quickly welcomed the prospective new owners. Johnson, who has known Iger for decades, praised both men and expressed confidence that they can help return the franchise to championship contention.
Iger brings deep experience at the intersection of sports, media and entertainment. During his tenure at Disney, he oversaw ESPN and helped manage the company’s long relationship with the NBA through major media rights agreements. He also has direct sports ownership experience through Angel City FC of the National Women’s Soccer League.
The Lakers are simultaneously navigating a major transition on the court. LeBron James departed Los Angeles during the offseason to join the Philadelphia 76ers, shifting even more attention toward Luka Doncic and the team’s next competitive chapter.
Doncic welcomed the proposed ownership change and said he sees enormous potential for the franchise. His comments reinforced the sense that the Lakers are entering a new phase both in the front office and on the basketball side.
Walter, meanwhile, described his time as Lakers owner as one of the great privileges of his career. He thanked the Buss family, players, staff and fans while expressing confidence in the organization’s future.
The pending sale also arrives shortly after Kushner became involved in discussions around a proposed FIFA commercial investment structure. That plan drew criticism from European soccer officials and others concerned about outside investors taking stakes in FIFA’s commercial operations. FIFA later backed away from the proposal while leaving open the possibility of further consultation.
For the Lakers, the immediate focus now turns to league approval and the completion of the sale process. If finalized, the deal would place one of basketball’s most valuable and famous franchises under the leadership of two prominent figures from the worlds of investment, entertainment and sports.
