Los Angeles Lakers Sold for Record-Breaking Price

The Los Angeles Lakers are undergoing a major change in ownership. Businessmen Josh Kushner and Bob Iger are purchasing the team for $12.5 billion. This marks a record price for a sale in professional sports in the United States. The details of the transaction were shared by an anonymous source, as both parties have kept specific terms under wraps.

ESPN reported that Kushner and Iger are acquiring the NBA’s most valuable franchise. Last year, the franchise was valued at $10 billion when Mark Walter obtained a controlling stake from the Buss family. Previously, both Kushner and Iger pursued securing an expansion team for Las Vegas. Owning the Lakers allows them to bypass that process. If NBA expansion occurs, it might happen in the 2028-29 season.

The sale requires approval from the NBA’s board of governors, which can take several weeks. The upcoming board meeting in New York next month will address this matter. The $12.5 billion figure not only sets a new precedent in sports deals but also reflects the rising valuations of NBA franchises. Three years ago, Michael Jordan sold his majority interest in the Charlotte Hornets at a $3 billion valuation. Similarly, the Boston Celtics sold last year for a valuation exceeding $6 billion, setting a record at the time.

Walter’s acquisition of a controlling stake in June 2025 surpassed previous records, and now the sale to Iger and Kushner raises it even further. Walter initially purchased a 27% minority stake in the Lakers in 2021 as part of a $10 billion valuation. The Lakers, with a storied history that includes 17 championships, are a globally recognized brand. The team consistently ranks high in league merchandise sales.

This sale follows the recent departure of LeBron James, the NBA’s all-time leading scorer, from the Lakers. After eight seasons with the team, James entered free agency and signed with the Philadelphia 76ers.

AP Basketball Writer Tim Reynolds contributed to this report.

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