Lakers’ US$12.5bn deal sets a new ceiling for sports valuations

Josh Kushner and Bob Iger have agreed to buy the Los Angeles Lakers for US$12.5 billion, setting a new record for a US professional sports franchise.

The proposed transaction would transfer the NBA team from Mark Walter, who acquired control from the Buss family in 2025 in a deal that valued the Lakers at US$10 billion. The agreement raises the valuation by 25% in less than a year.

Kushner is the founder of Thrive Capital and has previously held minority interests in the Miami Heat and Memphis Grizzlies. Iger stepped down as chief executive of The Walt Disney Company in March 2026 and, with Willow Bay, became controlling owner of NWSL club Angel City FC in 2024.

The buyers said their long-term commitment is to build on the Lakers’ history, compete at the highest level and serve the team, its supporters and Los Angeles. Financial details beyond the US$12.5 billion price have not been disclosed.

The transaction remains subject to approval by the NBA Board of Governors, whose next scheduled meeting is in September. The approval process can take several weeks, so the sale is agreed but not yet complete.

At US$12.5 billion, the deal would sit well above the US$10 billion Lakers transaction agreed in 2025 and the sale of the Boston Celtics at a valuation of just over US$6 billion. It establishes a new ceiling for scarce global sports assets and places one of basketball’s most recognisable brands under new ownership for the second time in a year.