The Los Angeles Lakers are undergoing a significant ownership change, with venture capitalist Josh Kushner and former Disney CEO Bob Iger agreeing to purchase the franchise for a record-breaking $12.5 billion. This transaction, announced on August 12, 2026, marks the highest valuation ever for a U.S. professional sports team. (axios.com)
The sale comes just over a year after Mark Walter acquired a controlling stake in the Lakers from the Buss family for $10 billion. Walter's brief tenure was marked by rapid changes and substantial investments, but his decision to sell follows federal and SEC scrutiny into his business dealings. (apnews.com)
Kushner and Iger, both lifelong NBA fans, expressed their honor and enthusiasm in becoming stewards of the Lakers. Their acquisition allows them to immediately enter team ownership at the highest level, bypassing their previous plans to launch an NBA expansion team. (apnews.com)
The Lakers, 17-time NBA champions, are at a pivotal moment. The team recently centered its roster around Slovenian star Luka Dončić, following the departure of LeBron James to the Philadelphia 76ers. Lakers legend Magic Johnson praised the new ownership, highlighting Iger’s longtime passion for basketball. (apnews.com)
The sale is pending approval from the NBA's Board of Governors in their upcoming meeting. Fans have expressed mixed reactions, with some concerned about the rapid turnover in ownership and the new owners' backgrounds. (cinemablend.com)
This development signifies a new chapter for the Lakers, as they navigate leadership changes and aim to maintain their legacy of excellence in the NBA.