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Breaking News L.A. Lakers Sold for 12.5 Billion
Breaking Los Angeles sports news today, August 12, 2026: the Los Angeles Lakers are being sold again, this time to an ownership group led by Joshua Kushner and Bob Iger for a reported $12.5 billion. The transaction would set another record for a U.S. professional sports franchise.
According to reports today, Josh Kushner and Bob Iger have agreed to purchase the Lakers from Mark Walter’s ownership group for approximately $12.5 billion. Reuters reports the price as more than $12 billion, while the Los Angeles Times and Associated Press report the figure as $12.5 billion.
The extraordinary part is how quickly the Lakers are changing hands. In October 2025, the NBA unanimously approved Mark Walter’s acquisition of majority ownership from the Buss family in a transaction that valued the Lakers at approximately $10 billion.
That means the headline valuation has risen roughly $2.5 billion—25%—in less than a year.
Who are the buyers?
Joshua Kushner is the billionaire founder of venture-capital firm Thrive Capital. He and Iger had reportedly been involved in efforts to bring an NBA expansion franchise to Las Vegas before pursuing the Lakers instead.
Bob Iger is the longtime entertainment executive best known for leading Disney. He also has previous involvement in Los Angeles sports through an investment in Angel City FC.
Their combination is notable: Kushner brings major investment and technology connections, while Iger brings decades of experience in entertainment, media, branding and global intellectual property.
What happens to Mark Walter?
Walter’s period as Lakers majority owner would be remarkably short. His purchase was unanimously approved by the NBA Board of Governors on October 30, 2025.
The Buss-to-Walter transaction valued the Lakers at approximately $10 billion. Today’s reported Kushner-Iger deal values them at $12.5 billion. That does not necessarily mean Walter personally pockets a $2.5-billion profit, because the actual economics depend on the ownership stakes, financing, liabilities and terms of both transactions.
What about Jeanie Buss and the Buss family?
This is an important piece to watch as details emerge.
When Walter bought majority control, the Buss family retained an ongoing minority interest in the Lakers. Reports at the time placed the family’s retained stake at a little over/around 15%, while Jeanie Buss was expected to continue serving as the Lakers’ governor for at least five years.
Today’s reports establish the new $12.5-billion transaction, but the precise treatment of every existing minority stake and Jeanie Buss’ longer-term role will be important details as the deal moves toward completion.
The deal isn’t completely finished yet
Most importantly, this is a sale agreement, not yet a fully completed ownership transfer.
The transaction still requires NBA Board of Governors approval, according to the Associated Press.
