13th August 2026 – (Chicago) The Los Angeles Lakers are set for a change of ownership after Mark Walter agreed to sell the franchise to Josh Kushner and Bob Iger in a transaction valued at about 12 billion dollars, a record for an NBA team. The agreement, first reported on Wednesday, comes scarcely a year after Walter completed the Buss family’s sale of a controlling stake at a valuation near 10 billion dollars. The latest deal, which still requires customary approvals, would establish a new high‑water mark for franchise sales across major US sports.
Kushner, the founder of Thrive Capital, and Iger, the former chief executive of The Walt Disney Company, said they were honoured to become stewards of one of global sport’s most recognisable clubs and pledged a long‑term commitment to build on its competitive tradition and community ties. Walter, chairman and chief executive of TWG Global and a co‑owner of the Los Angeles Dodgers and the Los Angeles Sparks, described his time with the Lakers as a privilege and expressed confidence in the franchise’s future under its incoming custodians.
The prospective sale follows the NBA’s approval last year of Walter as the Lakers’ majority owner, ending more than four decades of Buss family control that began with Jerry Buss’s 1979 purchase. Subject to the league’s standard review and closing conditions, the handover to Kushner and Iger would mark the second ownership transition in as many seasons for the 17‑time champions.