Lakers Set for Record $12.5 Billion Sale to Bob Iger, Josh Kushner

The Los Angeles Lakers are set to change ownership again after venture capitalist Josh Kushner and former Disney chief executive Bob Iger agreed to acquire the NBA franchise in a record-breaking $12.5 billion deal, according to multiple reports.

The agreement, first reported by ESPN and confirmed by the Associated Press and Reuters, would make the Lakers the most valuable professional sports franchise ever sold. The transaction still requires approval from the NBA Board of Governors and completion of due diligence.

The proposed sale comes only about a year after billionaire Mark Walter acquired majority control of the Lakers from the Buss family at a valuation of $10 billion. The new agreement would therefore represent a $2.5 billion increase in the franchise’s valuation in roughly 12 months.

Iger and Kushner had previously been involved in efforts to secure an NBA expansion franchise in Las Vegas. Instead, the pair reportedly pivoted to purchasing the Lakers after approaching Walter about selling his stake.

Iger, who led Disney for two separate periods, has long been involved in sports and entertainment. Kushner is the founder of investment firm Thrive Capital and has also been involved in other major sports and investment ventures.

The Lakers are one of the most recognisable brands in global sport, with a history featuring legends such as Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant and Shaquille O’Neal.

The franchise has won 17 NBA championships, tied for the league record, and has remained one of basketball’s most commercially powerful teams.

The proposed ownership change could also raise questions about the future role of Jeanie Buss, whose family controlled the Lakers for decades after her late father, Jerry Buss, purchased the franchise in 1979.

Under the previous ownership arrangement, Jeanie Buss was expected to remain the team’s governor for at least five years following Walter’s acquisition.

Reports indicate that the new buyers intend to respect that arrangement, although the precise structure of the new ownership group will become clearer once the transaction goes through the NBA approval process.

The potential sale arrives at a significant moment for the Lakers.

The franchise recently built its roster around Slovenian superstar Luka Dončić, while veteran superstar LeBron James has departed for the Philadelphia 76ers, according to the AP report. The incoming owners will therefore inherit a team undergoing another major transition both on and off the court.

Magic Johnson, who is part of Walter’s business group, has praised the incoming ownership, pointing to Iger’s passion for basketball and expressing optimism about the future of the franchise.

If approved, the $12.5 billion transaction would set a new benchmark for sports franchise valuations and underline the extraordinary financial growth of the Lakers brand.

For a franchise that has been associated with some of the biggest names in basketball for nearly eight decades, the proposed sale marks another dramatic chapter in the Lakers’ history.