The Los Angeles Lakers are set to change hands in a record-breaking $12.5 billion deal, marking the highest price ever paid for a North American sports franchise. This transaction occurs less than two years after TWG Global CEO and Los Angeles Dodgers co-owner Mark Walter purchased the team from the Buss family. The acquisition by businessman Joshua Kushner and former Disney CEO Robert Iger eclipses the $10 billion valuation from Walter’s own 2025 purchase.
In a joint statement, Kushner and Iger expressed their commitment to the organization, noting, “As 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. We 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.”
The franchise’s history is deeply tied to Dr. Jerry Buss, who held ownership from 1979 until his passing in 2013. Following his death, the team was transferred to his six children, with Jeanie Buss eventually taking on the roles of governor and controlling owner in 2017. Even after Walter’s 2025 acquisition, Jeanie Buss remained the team’s governor. The organization is currently transitioning into a new era centered on star player Luka Doncic, following the departure of all-time scoring leader LeBron James, who left in free agency this summer to join the Philadelphia 76ers.
While Mark Walter has not publicly disclosed the reasons for the sale, his business dealings are currently under federal scrutiny as part of a government investigation into his companies. Reflecting on his tenure, Walter stated, “Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
Buss remained the governor even with the sale to Walter, as the team moves forward in a new era with superstar Luka Doncic, but must replace the production of NBA all-time scoring leader LeBron James, who led them to a c
The deal was first reported by ESPN.
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