Los Angeles Lakers agree to a $12.5 billion sale
A group led by venture capitalist Joshua Kushner and former Disney chief executive Bob Iger has agreed to buy the Los Angeles Lakers at a valuation of $12.5 billion. Reuters and ESPN reported that the figure represents a record price for a U.S. sports team. The transaction is not yet a completed transfer of control because it remains subject to approval by the NBA Board of Governors and customary review steps.
ESPN, citing multiple sources, reported the agreement on August 12, 2026. Reuters separately confirmed the valuation and the leaders of the buying group. In a joint statement carried by both outlets, Kushner and Iger expressed respect for the Lakers' history and said they intended to build on the franchise's competitive foundation. The statement outlined their long-term approach without disclosing detailed financial terms.
A second ownership change in a short period
Current controlling owner Mark Walter acquired a majority stake in the Lakers in 2025 through a transaction that valued the franchise at about $10 billion. The new $12.5 billion agreement would produce another change in control after a relatively short period. Reuters reported that the previous transaction received NBA Board of Governors approval in October 2025.
The difference between the two valuations illustrates the rapid increase in prices attached to elite sports properties. It should not automatically be treated as a direct cash profit, however. Public reports do not fully detail the size and structure of the stake, liabilities, transaction costs or every closing condition. The verified core of the story is the new franchise valuation and the agreement to change control.
Why NBA approval matters
Changes in control of NBA teams require league review and a vote by the Board of Governors. Until that process is complete, the Kushner and Iger group is not the official controlling owner. The review generally considers the proposed ownership structure, financial capacity and compliance with league rules. The reports did not provide a firm date for a final vote.
This distinction is important when headlines describe the Lakers as “sold.” The parties have agreed to economic terms, but the transaction has not reached closing. Formal control will change only after the NBA grants the required approval and the remaining conditions are completed.
Who are Kushner and Iger?
Joshua Kushner is the founder of technology investment firm Thrive Capital. Bob Iger spent many years leading The Walt Disney Company, where he oversaw a broad media portfolio that included sports broadcasting. The pair had previously been linked to interest in a possible NBA expansion team in Las Vegas. The Lakers agreement represents a different route into team ownership.
In their joint statement, the buyers said they respected the leadership of Jerry and Jeanie Buss, whose family shaped the franchise for decades. Reuters and ESPN reported that Kushner and Iger described their goal as honoring that foundation, competing at the highest level and serving the team, its supporters and Los Angeles.
What happens next?
The next stage is the NBA's review and approval process. Until it is completed, the team's formal control structure remains under the existing arrangement. The proposed owners have not yet announced a detailed management team, investment program or set of basketball operations decisions.
The $12.5 billion valuation makes the agreement significant for the global sports business. Still, the confirmed facts are the sale agreement and its approval condition. It is too early to make firm claims about future results, roster decisions or revenue growth. Those issues will depend on the transaction closing and on decisions announced afterward.
