Lakers owner Mark Walter and venture capitalist Josh Kushner have agreed on all remaining terms of the $12.5 billion sale, sources confirmed to the California Post.
Kushner told Walter he has raised the money to complete the deal, according to sources.
Los Angeles Dodgers owner Mark Walter has finalized the sale of the Los Angeles Lakers. MLB Photos via Getty Images
Walter and Kushner met at Walter’s home in Florida, according to sources, where the outstanding terms were agreed upon.
Walter sold the Lakers to Kushner and former Disney CEO Bob Iger in August, just 10 months after he officially purchased the team from the Buss family for $10 billion.
Once the agreement of the sale is officially signed, the transaction will need approval from the NBA’s board of governors.
Any NBA ownership sale requires approval from at least three-quarters of the Board of Governors.
And the process for an ownership sale to be approved and official takes time.
Mark Walter’s sale of the Lakers was officially agreed on with Josh Kushner. Getty Images
The board of governors approved the sale of the Lakers from the Buss family to Walter on Oct. 30, 2025, 4 ½ months after Walter agreed to buy the franchise.
The Trail Blazers sale to an ownership group led by Tom Dundon wasn’t approved until March 30 after Dundon agreed to buy the franchise in mid-August of last year, 7 ½ months after the original agreement.
And it took five months for the Celtics sale to an ownership group led by Bill Chisholm to be approved by the board of governors.
Kushner’s previous experience as an NBA owner could expedite the process. He became a minority owner of the Grizzlies in 2019 before selling his share to become a minority owner of the Heat in May 2025.
Meanwhile, there’s ongoing drama between Lakers’ governor Jeanie Buss and her siblings.
Five of the siblings that make up the Buss Family Trust — Johnny, Jim, Janie, Joey and Jesse — formally filed a court case against Jeanie opposing the her stance that they can’t sell the family’s ownership stake of the franchise without her permission.
Jeanie is attempting to block her siblings from selling the remainder of the family’s ownership shares of the Lakers.
The five-non Jeanie Buss siblings voted to sell the rest of the family’s 17.8% ownership stake of the Lakers to Kushner and Iger.
Jeanie originally filed a petition in Los Angeles Superior Court in late August to block her siblings’ attempted sale of their minority ownership stake of the franchise.
To remain the Lakers governor, Jeanie or the Buss family would need to maintain control of at least 15% of the franchise, per NBA rules.
Jeanie and the Buss siblings have a hearing scheduled for Dec. 8.