Just a year after acquiring a controlling stake in the Los Angeles Lakers, embattled owner Mark Walter is set to sell the iconic NBA franchise to American businessmen Josh Kushner and Bob Iger in a landmark deal valued at $12.5 billion.
ESPN first reported the agreement, which Walter has since confirmed. The billionaire owner is currently facing scrutiny from the SEC over $16 billion in private-credit loans.
‘Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,’ Walter said in a statement.
‘I am grateful to [former team owner] Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.’
The proposed sale shatters the previous NBA franchise valuation benchmark, surpassing the $10 billion Walter paid for the Lakers in 2025. If completed at the reported price, the transaction would leave him with an estimated gross gain of about $2 billion before taxes. It also far exceeds the $6 billion sale price recorded by the rival Boston Celtics in 2025.
Kushner, 41, was recently involved with an investor group that attempted to acquire stakes in the World Cup from FIFA, a plan that was ultimately abandoned and has since contributed to pressure on FIFA president Gianni Infantino. The younger brother of Jared Kushner, President Donald Trump’s son-in-law, Josh Kushner is also known as the co-founder of Thrive Capital and Oscar Health.
Los Angeles Lakers guard Luka Doncic (77) reacts after scoring during a March game in Miami
Josh Kushner was part of an investor group that recently sought to buy stakes in the World Cup from FIFA before the proposal collapsed. He is the brother of Trump son-in-law Jared Kushner
Bob Iger recently completed his second stint as CEO of Disney, which has a long-standing partnership with the NBA through its sports cable network, ESPN, and other properities
Iger recently finished his second stint as CEO of Disney, which has a long-standing partnership with the NBA through its sports cable network, ESPN, and other properties. He and his wife Willow Bay are also the controlling owners of LA’s National Women’s Soccer League team, Angel City FC.
‘As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,’ Kushner and Iger wrote 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.’
Winners of 17 NBA championships, a dozen of which came after the team’s move from Minneapolis, the Lakers finished 53-29 last season. Their 2026 playoff run ended with a Western Conference semifinal defeat to the Oklahoma City Thunder.
Head coach JJ Redick now has a 103-61 record over two seasons.
The Lakers are currently transitioning away from the LeBron James era with a roster built around Slovenian superstar Luka Doncic, high-scoring shooting guard Austin Reaves and newly acquired center Walker Kessler.
Interestingly, LeBron’s son Bronny remains signed with the Lakers after the elder James’ free-agent defection to the Philadelphia 76ers.
US prosecutors are reportedly probing companies run by Walter, 66, the owner of the Los Angeles Lakers, Los Angeles Dodgers and co-owner of Chelsea
Jeanie Buss’ future with the Lakers is now uncertain after her family’s 2025 sale to Walter
Prior to 2025, the Lakers had not been sold since 1979, when Dr Jerry Buss purchased the NBA team, the NHL’s Los Angeles Kings and The Forum for $67.5 million.
His daughter Jeanie would take over the Lakers after his death in 2013 at age 80.
Jeanie, who was briefly engaged to former Lakers head coach Phil Jackson, became a minority partner in the team with the 2025 sale to Walter, although she has remained the club’s governor. It is unclear what Jeanie’s role with the team will be going forward.
Walter, along with TWG Global, still has interests in the Los Angeles Dodgers, Los Angeles Sparks, Premier League club Chelsea and the Professional Women’s Hockey League. ESPN has reported that Walter has no plans to sell the two-time defending-champion Dodgers.
The sale comes as federal prosecutors and the SEC are probing Walter over potential improper disclosures on $16 billion in private-credit loans. The case, which was initiated by a whistleblower, has not resulted in any criminal charges and Walter’s company has denied any wrongdoing.
‘Mark Walter and TWG have always acted in good faith, and those who have done business with Mark know him as honest and straightforward,’ a spokesperson for the conglomerate told WSJ in a statement.
As Bloomberg reported last month, federal prosecutors and the SEC are investigating Delaware Life Insurance Co. and Clear Spring Life and Annuity Co., two insurers controlled by Walter, for failing to disclose private credit holdings backed by other Walter companies.
