Record $12.5 Billion Sale Would Make Josh Kushner and Bob Iger the New Owners of the NBA’s Most Valuable Franchise
The Los Angeles Lakers are changing hands again, this time in a blockbuster $12.5 billion deal that would set a new record for the sale of a U.S. professional sports franchise.
Businessmen Josh Kushner and Bob Iger have agreed to buy the Lakers, according to a person familiar with the terms who spoke to The Associated Press on condition of anonymity Wednesday because neither side has publicly disclosed the financial details.
ESPN first reported the deal.
The agreement comes just one year after Mark Walter purchased a controlling stake in the Lakers from the Buss family in a deal that valued the franchise at $10 billion.
Now, Kushner and Iger are stepping in at an even higher valuation, paying $12.5 billion for what has become the NBA’s most valuable franchise.
Both men had previously been involved in efforts to secure an NBA expansion franchise in Las Vegas. Buying the Lakers means they would no longer have to wait for the league to make a decision on expansion, which could come as early as the 2028-29 season.
The sale is not yet final.
The NBA’s Board of Governors must approve the transaction, a process that can take several weeks. The board is scheduled to meet next month in New York.
$12.5 Billion Price Shows NBA Values Continue to Soar
The Lakers deal would surpass every previous U.S. professional sports franchise sale and continue a dramatic rise in NBA team valuations.
Only three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets at a $3 billion valuation.
The Boston Celtics were then sold last year at a valuation of slightly more than $6 billion, setting what was at the time a record for an NBA franchise.
The Lakers’ proposed $12.5 billion sale would more than double that figure.
For one of basketball’s most recognizable franchises, the agreement marks another major ownership shift while offering another sign of just how valuable NBA teams have become.
