The Los Angeles Lakers franchise is poised for another ownership transition following confirmation that venture capitalist Joshua Kushner and former Disney CEO Bob Iger have agreed to purchase the storied NBA team.
According to The Associated Press, which cited anonymous sources, the transaction values the team at $12.5 billion. If that figure is confirmed, the deal would establish a new benchmark as the highest price ever paid for a professional sports franchise. The sale requires approval from the NBA's board of governors before it can be finalized.
In a statement, the incoming owners expressed their reverence for the opportunity, saying they are "deeply honored by the opportunity to become stewards of the Lakers."
The current owner, investment manager Mark Walter, acquired controlling interest in the franchise just last year at a $10 billion valuation. The rapid sale would deliver Walter a significant profit in under twelve months.
Mike Vorkunov, an NBA reporter for The Athletic who specializes in basketball business matters, discussed the transaction's context with NPR. He referenced Bloomberg reporting indicating that federal authorities are examining Walter and his business entities for possible financial violations. The sale proceeds could supply Walter with liquidity as he navigates those legal challenges, Vorkunov noted in his conversation with NPR.
Joshua Kushner, whose brother Jared Kushner is married to President Donald Trump's daughter, has been broadening his portfolio of sports holdings. His recent investments include acquiring a minority ownership position in the San Francisco Giants. Kushner's investment firm had previously been positioned to spearhead funding for a FIFA commercial initiative centered on the World Cup and additional international soccer competitions, though that proposal was ultimately abandoned following resistance.
According to Vorkunov's analysis shared with NPR, purchasing the Lakers represents a unique opportunity in professional sports ownership. The franchise stands as one of the NBA's premier brands, offering the new owners command of an elite basketball organization with global recognition and a championship legacy.
The transaction now awaits review and approval from the league's governing body before the ownership transfer can be completed.
