Kushner, Iger to Buy Lakers for Record $12.5 Billion

Thrive Capital founder Josh Kushner and Former Disney CEO Bob Iger have agreed to purchase a controlling stake in the Los Angeles Lakers at a $12.5 billion valuation, the highest ever for a North American professional sports franchise.

The deal surpasses the prior Lakers sale and recent transactions like the Seattle Seahawks' roughly $9.6 billion valuation.

A Rapid Turnaround From Walter

The buyers are purchasing the stake from Mark Walter, owner of the Los Angeles Dodgers, who acquired majority control of the Lakers from the Buss family in a 2025 deal valued at about $10 billion, approved by the NBA Board of Governors in October 2025.

The new sale ends Walter's ownership after just 14 months.

Walter called ownership "one of the great honors of my life" and an "extraordinary investment," expressing confidence in the team's future.

Deal Came Together in Days

Kushner, younger brother of Jared Kushner, is expected to be the controlling owner, with Iger deeply involved in a leadership capacity.

A new holding company, Thrive Eternal, focused on sports and entertainment investments, is expected to help finance the purchase.

The deal emerged quickly earlier this month after Iger and Kushner, who had previously explored an NBA expansion team in Las Vegas, approached Walter directly.

It remains subject to due diligence and formal NBA Board of Governors approval.

Buss Family's Continued Role

The transaction covers only Walter's shares and does not include the Buss family's remaining stake.

Jeanie Buss is expected to continue as team governor, per terms of the prior sale agreement, which Iger has said he intends to honor.

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."