The Los Angeles Lakers have been sold for the second time in the past year. Josh Kushner and Bob Iger have bought the iconic basketball franchise from Mark Walter for $12.5 billion per ESPN’s Ramona Shelburne. The purchase price is a new record for North American sports franchises.
Kushner and Iger were both part of a group trying to bring an NBA team to Las Vegas but have now switched course.
Kushner is the founder of Thrive Capital, a venture firm based in New York City that has invested in companies such as Spotify, Instagram, Twitch, A24 and many more. He’s also the brother of Jared Kushner who is married to Ivanka Trump, the son-in-law of President Donald Trump, and holds the official title of United States Special Envoy for Peace Missions.
Iger is the former Disney CEO and is also an advisor to Thrive Capital.
“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,” Kushner and Iger said in a statement to ESPN. “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.”
Kushner has previously held minority stakes in other NBA teams, including the Memphis Grizzlies and Miami Heat.
Walter, who sold the team Wednesday, bought a majority stake in the Lakers from the Buss Family, who previously owned the franchise for more than 40 years, in June 2025 for $10 billion. The 66-year-old is the co-founder and CEO of global financial firm Guggenheim Partners and has an estimated net worth of more than $15 billion, per Bloomberg. Today’s sale means he owned the team for fewer than two years.
Walter has significant investments across the professional sports world, including stakes in the Los Angeles Dodgers, Los Angeles Sparks, the Professional Women’s Hockey League, Chelsea FC and more.
In July, it was revealed his financial dealings are at the core of a federal investigation into transactions executed by his companies. He also suffered a stroke in 2024, per the Wall Street Journal.
The Lakers are entering a new era on the court as LeBron James took his talents to Philadelphia, departing via free agency this summer after eight years with the organization.
