The sale of the Los Angeles Lakers is set at a record $12.5 billion valuation after current governor Mark Walter and Thrive Capital founder Josh Kushner agreed on all outstanding terms of the deal, according to ESPN’s Ramona Shelburne. The agreement, reached when the two men met at Walter’s home in Florida on October 29-30, would make the Lakers the most expensive sports franchise ever sold.
Kushner is buying the team alongside former Disney chief executive Bob Iger, who is expected to take a minority stake and run the Lakers’ day-to-day operations, while Kushner would become the majority and controlling owner. The deal first came together in August, when Kushner and Iger agreed to buy the team at the same $12.5 billion price, about 72 hours after Kushner first called Walter with an offer — 25 percent more than the $10 billion valuation Walter paid the Buss family for control of the franchise.
What is settled and what is not
The financial framework between the parties is now locked in, but the transaction is not complete. The agreement still needs to be formally signed, and it must then be reviewed by the NBA and approved by at least three-quarters of the Board of Governors, with a vote expected in November. Walter’s own purchase took four and a half months from agreement to the board’s vote in October 2025, so the clock on the formal review does not really start until the paperwork is signed.
There is also a family fight still to be settled. Jeanie Buss, who has run the Lakers since her father Jerry Buss died in 2013, has said she is not on board with the sale, while her five siblings voted to include the family trust’s remaining 17.8 percent stake in the transaction. A court hearing on that dispute is set for December 8. To fund the purchase, Kushner and Iger have been offering minority stakes to investors for $250 million to $300 million apiece — at this valuation, $250 million buys 2 percent of the Lakers.
The Iger family is already courtside
The new ownership’s footprint is already showing. Will Iger, the son of Bob Iger, has joined the broadcast team of the Coachella Valley Lakers, the club’s G League affiliate, as its play-by-play announcer for the 2026-27 season. The announcement drew some grumbling from fans about nepotism, but it underlines how close the transition is. If the deal closes as agreed, it will end the Buss family’s 47-year ownership of the 17-time NBA champions and set a benchmark no other franchise sale has ever touched. The Spurs and Lakers put their streaks on the line on Wednesday night, and Lillard turned back the clock as the Blazers stunned the Thunder 123-103.
