![\"Los](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/08\/los-angeles-lakers-forward-rui-hachimura-28-blocks-a-shot-by-42UE4JQUG5DBZKDCIK2G2C5MTA.jpg\")
<\/p>\nThe Los Angeles Lakers are being sold for the second time in a year, going to businessmen Josh Kushner and Bob Iger for a record-breaking price.<\/p>\n
This sale agreement is $12.5 billion (NZ$21.3 billion) , according to a person familiar with the terms who spoke to The Associated Press on condition of anonymity today because neither side revealed specific details of the latest stunning development with one of North America’s marquee sports teams.<\/p>\n
ESPN first reported that Kushner and Iger are buying the NBA’s most valuable franchise. The Lakers were valued last year at $10 billion (NZ$17 billion) \u2014 a record for a pro sports team \u2014 when Mark Walter purchased a controlling stake from the Buss family, which had owned the team since 1979.<\/p>\n
\u201cAs 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,\u201d Iger and Kushner said in a statement. \u201cWe have immense respect for the leadership and vision of Jerry and Jeanie Buss. 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.\u201d<\/p>\n
Kushner, a venture capitalist, and former Walt Disney Company CEO Iger had been working together on landing a possible NBA expansion team for Las Vegas. By buying the Lakers, they don’t have to wait until the possibility of expansion in the 2028-29 season at the earliest.<\/p>\n
<\/p>\n
Los Angeles Lakers forward Rui Hachimura (28) blocks a shot by Houston Rockets forward Jabari Smith Jr. (10) during the first half of Game 6 of a first-round NBA playoffs basketball series in Houston, May 1, 2026. (Source: Associated Press)<\/p>\n
Lakers icon Magic Johnson, a partner in Walter’s ownership of baseball’s Los Angeles Dodgers, praised the deal on social media.<\/p>\n
\u201cLaker fans, you couldn\u2019t have two better owners,\u201d Johnson wrote. \u201cI\u2019ve known Bob personally for over 40 years \u2014 he has always loved the Lakers and basketball and he will bring championships back to LA.\u201d<\/p>\n
The sale still will need approval from the NBA\u2019s board of governors, and that process can take several weeks. The next board meeting is set for September in New York.<\/p>\n
The $12.5 billion (NZ$21.32 billion) price tag is not only a record for US pro sports but a new summit in skyrocketing NBA franchise values. Only three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets for a $3 billion (NZ$5.1 billion) valuation, while the Boston Celtics were sold last year to private equity mogul Bill Chisholm at a valuation of just over $6 billion (NZ$10.2 billion).<\/p>\n
Walter\u2019s agreement to purchase a controlling stake in the Lakers at the $10 billion (NZ$17 billion) valuation last summer obliterated that mark, and now Iger and Kushner have pushed the bar even higher.<\/p>\n
The 66-year-old Walter\u2019s shocking decision to sell after just 10 months of official ownership is reverberating throughout the team\u2019s massive fan base, which appeared to be uniformly excited about the purchase last year. Walter has stewarded the Dodgers into the most successful stretch in franchise history, with three World Series championships in the past six seasons as the most aggressive spenders in baseball.<\/p>\n
Multiple media outlets last month reported that Walter\u2019s business empire is under scrutiny from both federal prosecutors and the Securities and Exchange Commission in tax fraud investigations.<\/p>\n
The Lakers are 17-time NBA champions who won their most recent title in 2020. They’ve made the playoffs in each of the past four seasons, and their current roster is built around NBA scoring champion Luka Doncic, who is signed through the 2028-29 season. The Slovenian superstar has become passionate about Los Angeles and the Lakers less than two years after his arrival.<\/p>\n
\u201cBeing a Laker means everything to me, and I\u2019m excited to get back on the court and bring a championship to LA,\u201d Doncic wrote on social media after hearing of the sale. \u201cI\u2019ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise. I look forward to meeting Josh and Bob so we can get to work building something special in LA together.\u201d<\/p>\n
The 41-year-old Kushner has been a minority owner of two NBA teams, but he jumped into the international sports spotlight this summer when his capital holding company, Thrive Eternal, was set to be the \u201canchor investor\u201d in FIFA President Gianni Infantino\u2019s plan to sell stakes in future World Cup profits. Infantino abandoned the idea on July 31.<\/p>\n
Kushner\u2019s older brother is Jared Kushner, son-in-law of US President Donald Trump.<\/p>\n
Josh Kushner currently owns a minority stake in the Miami Heat, and he previously owned a stake in the Memphis Grizzlies.<\/p>\n
![\"Disney](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/08\/disney-chief-executive-bob-iger-arrives-at-the-96th-academy-HNIJ4XJM6ZFX7FLFS6TL4JCMMU.jpg\")
<\/p>\n
Disney chief executive Bob Iger arrives at the 96th Academy Awards Oscar nominees luncheon on Feb. 12, 2024, in Beverly Hills, Calif. (Source: Associated Press)<\/p>\n
The 75-year-old Iger became one of Hollywood\u2019s most well-known executives while he ran Disney for two lengthy stints between 2005 and last March, when he stepped aside. Iger and his wife, former sports journalist Willow Bay, became the controlling owners of NWSL team Angel City FC in 2024 with a deal that valued the club at $250 million (NZ$426.5 million).<\/p>\n
Walter\u2019s purchase of the Lakers was approved by NBA owners last October. He originally bought a 27% minority stake in the team in 2021 before purchasing control of the team last year.<\/p>\n
The Lakers’ 17 championships going back to the franchise\u2019s origin in Minneapolis are the second-most in NBA history behind Boston\u2019s 18. It is a global brand, always at or near the top of the league\u2019s merchandise-sales rankings.<\/p>\n