$12B Shocker: Kushner & Iger Set to Buy Lakers
The Los Angeles Lakers Are Getting New Owners for a Record-Breaking $12 Billion!
What Just Happened?
Imagine your favorite toy store just got sold for the highest price ever paid for a toy store. That’s basically what happened with the Los Angeles Lakers!
The famous basketball team has been sold to two American businessmen named Josh Kushner and Bob Iger for over $12 billion. That’s 12,000,000,000 dollars — a brand new record for any sports team in North America.
Important Point: This is the most money anyone has ever paid to buy a sports team in the United States or Canada!
Who Are the New Owners?
Josh Kushner
- A successful businessman and investor
- Comes from a well-known business family
- Has been involved in trying to bring a new NBA team to Las Vegas
Bob Iger
- The former longtime CEO of Disney (yes, that Disney — Mickey Mouse, Marvel, Star Wars!)
- Helped turn Disney into the entertainment giant it is today
- Also tried to help bring an NBA team to Las Vegas
What They Said:
"As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles."
In kid words: "We love basketball, we love the Lakers, and we promise to take really good care of the team and try to win championships!"
Who Owned the Team Before?
Mark Walter
- He’s the CEO of a big company called TWG Global
- Bought the controlling share (the biggest piece) of the Lakers last year for about $10 billion
- That was also a record at the time!
The Buss Family (Before Mark Walter)
- Jerry Buss bought the team way back in 1979
- His daughter Jeanie Buss has been running the team for years
- They’re considered basketball royalty in Los Angeles
Why Is This Such a Big Deal?
- Record-Breaking Price — $12 billion is more than any sports team has ever sold for
- Super Famous Team — The Lakers are one of the most popular teams in the world
- Big Names Buying — A former Disney CEO and a major investor are taking over
- Quick Flip — Mark Walter owned the team for less than a year before selling
What Did Mark Walter Say?
"Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead."
In kid words: "It was amazing owning the Lakers. The fans are like family. I’m happy for the next chapter."
Mark Walter’s Other Sports Teams
Mark Walter didn’t just own the Lakers. Through his company TWG Global, he also has pieces of:
- Los Angeles Dodgers (Baseball)
- Los Angeles Sparks (Women’s basketball)
- Chelsea (English soccer team in the Premier League)
- Professional Women’s Hockey League
- Cadillac Formula 1 racing team (through TWG Motorsports)
Important Note About Mark Walter
There’s something else going on with Mark Walter. He’s currently under investigation by the federal government for possible tax fraud.
- What’s being looked at: Whether two insurance companies he controls hid the fact that their investments were backing his other businesses
- Who’s investigating: U.S. prosecutors in Manhattan AND the Securities and Exchange Commission (SEC)
- When this came out: Bloomberg reported on it in July 2026
This investigation is separate from the Lakers sale, but it’s happening at the same time.
Summary
| What Happened | The Details |
|---|---|
| Team Sold | Los Angeles Lakers |
| Buyers | Josh Kushner & Bob Iger |
| Price | Over $12 billion (NEW RECORD!) |
| Previous Owner | Mark Walter (owned since Oct 2025) |
| Owner Before That | The Buss family (since 1979) |
| Why It Matters | Most expensive sports team sale ever in North America |
| Buyers’ Promise | Win championships, honor the Lakers legacy, serve LA fans |
FAQ
How much is $12 billion exactly?
Think of it this way: If you had $12 billion and spent $1 million every single day, it would take you almost 33 years to spend it all!
Who is Bob Iger again?
He ran Disney for 15 years (2005–2020). Under him, Disney bought Pixar, Marvel, Lucasfilm (Star Wars), and 21st Century Fox. He’s one of the most famous business leaders in entertainment.
Will the Lakers move to a different city?
No! The new owners specifically said they’re committed to Los Angeles and the fans there. The Lakers aren’t going anywhere.
Does this mean the Lakers will win more championships?
New owners want to win (they said "compete at the highest level"), but owning a team doesn’t guarantee trophies. They still need great players, coaches, and a little luck!
What happens to Jeanie Buss?
Jeanie Buss (Jerry Buss’s daughter) has been the public face of the Lakers for years. The new owners praised her leadership, but her exact role going forward hasn’t been announced yet.
Why did Mark Walter sell so quickly?
We don’t know for sure! He owned the team for less than a year. It could be because:
- The new buyers made an offer he couldn’t refuse
- The federal investigation made him want to sell
- He decided to focus on his other sports teams
- A combination of these reasons
Article based on reporting by Ramona Shelburne, Senior Writer for ESPN.com