Iger and Kushner agree to buy Lakers

Bob Iger and Josh Kushner have agreed to buy the Los Angeles Lakers from Mark Walter, setting up the storied NBA franchise for its second ownership change in about 14 months.

The purchase price has not been officially confirmed, CBS LA reported. ESPN reported Wednesday that the deal is worth more than $12.5 billion, according to The Guardian, a figure that would make it a record-breaking sale for a U.S. sports franchise. Any sale would need approval from the NBA’s board of governors, whose next meeting is scheduled for September, The Guardian reported.

“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,” Iger and Kushner said in a joint statement. “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.”

Walter bought a majority stake in the Lakers from the Buss family last year in a deal that valued the team at about $10 billion. CBS LA reported that the purchase came about 14 months ago and was then a record fee; The Guardian reported the deal was approved by the NBA board of governors in October. Jeanie Buss, daughter of late Lakers owner Jerry Buss, remained the team’s governor after Walter’s purchase, but CBS LA reported it is unclear what role, if any, she would have under the new ownership group.

Walter thanked the Buss family and Lakers fans in a statement Wednesday.

“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,” he said. “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.”

CBS LA identified Walter as chief executive of Guggenheim Partners. The Guardian described him as CEO of TWG Global, a holding company with interests in MLB’s Los Angeles Dodgers, the WNBA’s Los Angeles Sparks, Premier League club Chelsea and the Professional Women’s Hockey League. The Guardian also reported that Walter is under federal investigation over allegations of tax fraud, which he denies.

Iger, 75, is the former chief executive of The Walt Disney Company. CBS LA reported he served as Disney CEO from 2005 to 2020 and again from 2022 until March. He and his wife, journalist Willow Bay, bought Angel City FC of the National Women’s Soccer League in 2024.

Kushner, 41, founded venture capital firm Thrive Capital. He is the younger brother of Jared Kushner, Donald Trump’s son-in-law, and the son of Charles Kushner, the U.S. ambassador to France and Monaco. CBS LA reported that Joshua Kushner bought a minority stake in the Miami Heat last year.

The Lakers have won 17 NBA championships, second only to the Boston Celtics, according to The Guardian. Their most recent title came in 2020. The team is now led by Slovenian star Luka Dončić, who CBS LA reported was acquired from the Dallas Mavericks in a February 2025 trade and signed a contract extension last August.

The franchise is also moving on from LeBron James. The Guardian reported the Lakers recently parted ways with him; CBS LA reported that James left in free agency this summer and announced last month he would finish his career with the Philadelphia 76ers.

The potential Lakers sale comes as the NBA seeks ownership bids for expansion franchises in Seattle and Las Vegas, CBS LA reported. Adding two teams would bring the league to 32 franchises.