The Los Angeles Lakers are headed for a new era at a jaw-dropping price: American businessman Josh Kushner and former Disney CEO Bob Iger are buying the franchise for $12.5 billion, sources told Ramona Shelburne of ESPN.
That figure sets a new benchmark for a North American sports franchise, a number so massive it immediately resets the market.
Kushner and Iger had been looking at an expansion team in Las Vegas, but they shifted course and moved to purchase the Lakers from majority owner Mark Walter, according to Shelburne.
In a statement, Kushner and Iger said, "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."
The deal is not final yet. It still needs approval from the NBA’s board of governors, which is next scheduled to meet in September.
Walter had bought a controlling interest in the Lakers from the Buss family in October 2025 for what was then a record price of around $10 billion. Sources told Shelburne that he is selling only the Lakers. His other holdings include ownership stakes in the Los Angeles Dodgers, Los Angeles Sparks, Premier League club Chelsea, and several racing teams, among them Cadillac Formula 1.
Walter is also under federal investigation for alleged tax fraud tied to other companies in his business empire.
Kushner, meanwhile, is a venture capitalist who was recently part of the unsuccessful $20-billion FIFA proposal to sell minority stakes in the World Cup.
In Other News...
Jazz Still Have One More Roster Move Worth Watching
Utahs roster is full for now, but there is still a layer of offseason flexibility worth keeping an eye on. The Jazz hold a trade exception from the Walker Kessler deal, giving them a route to absorb salary in a move before the summer window closes, and that kind of mechanism can matter just as much as a headline-grabbing signing when a front office is trying to stay nimble.
There is also recent precedent for how a quieter move can become more useful later. The Jazz once brought in Georges Niang, who never played because of injury, yet the contract itself still proved valuable when it helped grease the path to the Jaren Jackson Jr. trade. A similar idea could be in play again, whether the goal is to patch a roster need now or to keep a bigger deal within reach down the line. [Read more 🡒]
Rudy Gobert Is Forcing A Jazz Legacy Debate Fans Can't Ignore
Rudy Goberts place in basketball history has become one of those arguments that follows the Jazz long after his time in Utah, because his rsum is impossible to ignore even for people who still bristle at the way he changed the game on one end of the floor. Four Defensive Player of the Year awards, three All-Star selections and two block titles put him in rare company, and his postseason impact has only strengthened the case that he was much more than a specialist.
The more interesting debate now is how that legacy gets judged when the Hall of Fame conversation comes up, especially for fans who remember the offensive limitations that always made him a more complicated star than a typical franchise centerpiece. The Athletics Mike Vorkunov views him as a near-lock for Springfield, but the fact that his candidacy still sparks disagreement says plenty about how Goberts career continues to divide opinion long after it helped define an era in Utah. [Read more 🡒]
Jazz Fans Wont Love Where This Former Young Core Ended Up
Walker Kessler and Collin Sexton are back together, just not in the place Jazz fans remember them. The two were teammates in Utah before Kessler was traded to the Lakers, and Los Angeles later added Sexton to the roster, bringing a familiar pairing back into the same locker room.
Sexton has already made it clear he is excited to play alongside Kessler again, leaning into the history and chemistry they built with the Jazz. For Utah, it is another reminder of a young core that once looked like it could grow together, only to wind up continuing its story somewhere else. [Read more 🡒]