The Los Angeles Lakers have changed hands for the second time in less than a year, now owned by former Disney CEO Bob Iger and venture capitalist Joshua Kushner at a $12.5 billion valuation.
A person familiar with the transaction confirmed the figure but requested anonymity because the terms were not disclosed publicly. The sale was announced Wednesday in a joint statement from Iger and Kushner, who called the team “one of the most iconic sports franchises in the world.”
Iger and Kushner take control after rapid ownership shift
Mark Walter, who acquired a controlling stake in the Lakers last October for $10 billion, sold his majority equity to the new buyers. Walter remains chairman of Guggenheim Partners, the financial firm he co-founded, and keeps ownership of other sports teams, including the Los Angeles Dodgers and English Premier League club Chelsea.
This transaction follows recent scrutiny of Walter’s business dealings. Last month, Bloomberg reported that the Securities and Exchange Commission and federal prosecutors were investigating potential financial issues at two of his insurance companies and at Guggenheim. Walter’s health has also drawn attention; The Wall Street Journal reported last month that he suffered a stroke in 2024 and that his health status has “become a matter of concern inside his business empire, with varying opinions on whether lingering effects from the stroke have impacted his fitness to lead his businesses.”
Iger and Kushner described their purchase as a long-term investment. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” they said, referring to the late Lakers owner and his daughter, who now serves as the team’s governor. “Our goal is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
Business ties and past ambitions
The two buyers have worked together before. Iger joined Thrive Capital, Kushner’s venture firm, earlier this year after leaving Disney, where he spent nearly 20 years as CEO. Kushner, the younger brother of Jared Kushner—former senior advisor to President Donald Trump—had previously expressed interest in buying an NBA expansion team in Las Vegas.
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For Iger, the Lakers deal expands his sports holdings. In 2024, he and his wife, Willow Bay, purchased Angel City FC, a professional women’s soccer team, for $250 million. Kushner’s firm has invested in technology startups like Instagram and Stripe, but this marks his first majority ownership of a major sports franchise.
The agreement does not include Walter’s stake in the WNBA’s Los Angeles Sparks, which he still controls.
Sports ownership can shift rapidly when wealthy buyers see an opportunity. Walter’s tenure lasted less than a year, showing that even at the highest levels, control is often temporary.
The Lakers’ next chapter will attract attention beyond fans. The team’s value has nearly tripled in the last decade, and with new leadership, expectations for performance will rise.
Investors have taken notice of similar trends in recent stock movements after hours.
