Los Angeles Lakers sold for record $12 billion to Josh Kushner and Bob Iger

In a landmark deal, Los Angeles Lakers owner Mark Walter has reached an agreement to sell the iconic NBA franchise to businessmen Josh Kushner and Bob Iger for a staggering $12 billion. The transaction, reported by ESPN citing multiple sources, shatters the record for the most expensive team sale in NBA history.

This sale comes less than a year after Walter acquired the Lakers for approximately $10 billion in a deal with the Buss family, who had owned the team since 1979. The rapid turnaround highlights the significant valuation placed on one of the league's most storied franchises.

Kushner, who leads tech investments through Thrive Capital, and Iger, known for his advisory roles with global brands, expressed their deep honor and strategic vision as new custodians of the Lakers. In a statement released by ESPN, they conveyed their respect for the Buss family's leadership and their commitment to building upon the team's foundation, competing at the highest level, and serving the Los Angeles community and its fans.

Walter reflected on his tenure as owner, calling it one of the greatest honors of his life. He emphasized that beyond the financial investment, his most cherished takeaways are the community, the fans, and the city's deep connection to the team. He expressed gratitude to Jeanie Buss and the Buss family for welcoming him and conveyed his confidence that the Lakers' future remains bright, belonging to the city of Los Angeles.