The Lakers are headed for another ownership shakeup, and this one comes with a staggering price tag.
Josh Kushner and Bob Iger are leading a group that has agreed to buy the franchise at a record-setting $12 billion valuation, according to ESPN’s Ramona Shelburne. The move lands less than a year after Mark Walter officially became the Lakers’ majority stakeholder, making the turnaround all the more jarring.
Kushner and Iger confirmed the agreement in a statement to ESPN.
“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. 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.”
That $12 billion number is the headline, and it says plenty about where NBA franchise values have gone. Just last year, the Lakers were sold to Walter at a $10 billion valuation, and now that figure has climbed again in a hurry.
It also marks a dramatic break from the ownership structure that had defined the team for decades. Walter’s recent takeover had ended the Buss family’s run as the controlling group, a stretch that began in 1979 when Jerry Buss bought the franchise in a larger transaction.
During that era, the Lakers turned into one of the most recognizable teams in sports, piling up 11 championships with stars such as Magic Johnson, Kareem Abdul-Jabbar, Shaquille O’Neal, Kobe Bryant, and LeBron James.
Now the franchise is entering another chapter.
Kushner is the founder of Thrive Capital, while Iger brings a long track record at the top of the entertainment world after years leading the Walt Disney Company.
The big question for Lakers fans is what this means once the basketball side takes center stage. A new owner doesn’t hand out titles by itself, especially with roster-building constrained by the salary cap and the new apron rules. But a group willing to make this kind of investment leaves no doubt about the financial muscle behind the franchise.
The valuation also reflects more than wins and losses. The Lakers carry a kind of reach that few, if any, teams can match because of their history, Los Angeles setting, celebrity pull, and global recognition.
That is why $12 billion, as wild as it sounds, fits the scale of what the Lakers have become.
Ownership stability used to be part of the team’s identity. Not anymore. After two major changes in rapid succession, the Lakers are moving into another transition, with Kushner and Iger paying a historic price and inheriting expectations just as enormous.
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