The Los Angeles Lakers are being sold for $12.5 billion, a record price for an NBA franchise, less than a year after Mark Walter took a majority stake in the team.
Josh Kushner, the brother of Jared Kushner, who is married to United Stated (US) President Donald Trump’s daughter Ivanka, and former Disney chief executive Bob Iger are buying the controlling interest in the club. Walter had bought his share from the Buss family for an estimated $10 billion, a deal the NBA Board of Governors unanimously approved in October 2025.
Kushner and Iger confirmed the purchase in a joint statement on Wednesday. “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,” they said. “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,” they added.
Walter also released a statement reflecting on his short time as owner.
“Owning the Los Angeles Lakers has been one of the great honors of my life,” he said. “It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to 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 Lakers trace their modern ownership history back to 1979, when Jerry Buss bought the team, the Los Angeles Kings hockey club and the arena now known as the Kia Forum for $67.5 million.
After Buss died in 2013, control of the franchise passed to his six children through a family trust, before Walter completed his purchase last year.
The Lakers have won 17 NBA titles, one behind the record of 18 held by the Boston Celtics.
Kushner’s involvement in the deal comes weeks after he featured in controversy surrounding FIFA president Gianni Infantino over a shelved plan to sell stakes in the governing body’s competitions to private investors.
Thrive Capital, the venture firm Kushner founded, had been expected to lead the investor group behind that proposal, known as FIFA Forward Enterprise, before it was withdrawn amid backlash from soccer officials.
