BREAKING: Kushner & Iger to Buy Lakers for Record $12B
The Los Angeles Lakers Are Getting New Owners for a Record $12 Billion!
What Just Happened?
Imagine your favorite toy store being sold for more money than anyone has ever paid for a toy store before. That’s basically what just happened with the Los Angeles Lakers — one of the most famous basketball teams in the whole world!
Two very successful businessmen, Josh Kushner and Bob Iger, are buying the team for over $12 billion. That’s the highest price ever paid for a sports team in North American history!
Who Are the New Owners?
Josh Kushner (Age 41)
- Founded Thrive Capital — a company that invests in new, exciting startups (like baby companies that might grow up to be huge!)
- Co-founded Oscar Health — a health insurance company that uses technology to make things simpler
Bob Iger (Age 75)
- Was the CEO of Disney — twice! He ran the company that owns Mickey Mouse, Marvel, Star Wars, Pixar, and more
- Recently became the controlling owner of Angel City FC — a professional women’s soccer team
- Stepped down as Disney CEO earlier this year
Fun Fact: Both men are lifelong NBA fans and say they’re "deeply honored" to take care of such a special team.
Who Owned the Team Before?
Mark Walter
- Bought the Lakers from the Buss family last year (October 2025) for about $10 billion — which was also a record at the time!
- Runs TWG Global — a big holding company (think: a company that owns pieces of many other companies)
- Also owns parts of:
- Los Angeles Dodgers (baseball)
- Los Angeles Sparks (women’s basketball)
- Chelsea Football Club (English soccer)
- Professional Women’s Hockey League
- Several auto racing teams, including Cadillac Formula 1
The Buss Family
- Owned the Lakers for decades — since 1979!
- Jerry Buss bought the team and built it into a powerhouse
- His daughter Jeanie Buss has been running things recently
Important Point: Mark Walter said owning the Lakers was "one of the great honors of my life" and that "the Lakers belong to Los Angeles."
How Did This Happen? (Step by Step)
- Kushner and Iger were trying to bring a new team to Las Vegas — they were part of the "expansion" process (that’s when the NBA adds brand-new teams)
- Suddenly, they changed plans — they made a huge, aggressive offer to buy the existing Lakers instead
- Mark Walter agreed to sell — even though he’d only owned the team for about 10 months
- The price? Over $12 billion — smashing the previous record (which Walter himself set at $10 billion!)
Important Context: Legal Issues for the Seller
Mark Walter is currently under federal investigation for alleged tax fraud. Here’s the simple version:
- Prosecutors in New York are looking at two insurance companies Walter controls
- They’re checking if these companies hid information about how they used money to back Walter’s other businesses
- The SEC (Securities and Exchange Commission — the government group that watches Wall Street) is also investigating
- This investigation was reported in July 2026 by Bloomberg
Note: Investigations don’t mean someone is guilty — they’re just the government asking questions to find out what happened.
What Does This Mean for Lakers Fans?
| Good News | Things to Watch |
|---|---|
| New owners with deep pockets and winning experience (Disney, startups, sports teams) | NBA must approve the sale (usually takes weeks/months) |
| They promise to "compete at the highest level" | Transition period — new owners learn the team |
| They respect the Buss family legacy | Walter’s legal issues — could they affect anything? (Probably not the team directly) |
| Long-term commitment to Los Angeles | Will they keep the current front office/coaching staff? |
Summary
The Los Angeles Lakers are being sold for a record-breaking $12+ billion to Josh Kushner (venture capitalist) and Bob Iger (former Disney CEO). They’re taking over from Mark Walter, who owned the team for less than a year after buying it from the legendary Buss family. Both sides have released warm, respectful statements. The NBA still needs to approve the deal. Oh — and the seller is under federal investigation for unrelated financial matters. For fans? It likely means stable, ambitious ownership with lots of resources to keep the Lakers winning.
FAQ
1. When will the sale be official?
The NBA’s Board of Governors must vote to approve it. This usually takes several weeks to a few months. Once 3/4 of the other team owners say yes, it’s done!
2. Will the Lakers move cities?
Absolutely not. Both the new owners and Mark Walter emphasized: the Lakers belong to Los Angeles. They’re not going anywhere.
3. Does this mean LeBron James or other players will leave?
Nope! Player contracts stay the same when a team is sold. The new owners inherit all current contracts, coaches, and staff — unless they choose to make changes later.
4. Why did Mark Walter sell so quickly?
We don’t know for sure. He bought the team for $10 billion and is selling for $12+ billion — a $2+ billion profit in ~10 months. The federal investigation might be a factor, but that’s speculation.
5. Who runs the team day-to-day right now?
Jeanie Buss (the current governor) and Rob Pelinka (general manager) continue running basketball operations until the sale closes and new leadership is announced.
Go Lakers!