Lakers sold for record $12.5bn to Kushner and Iger

The Los Angeles Lakers are being sold for a reported $12.5 billion (£9.3 billion), a record price for an NBA franchise. Josh Kushner, brother of President Donald Trump's son-in-law Jared Kushner, and former Disney CEO Bob Iger are buying the controlling interest. Mark Walter acquired his majority stake from the Buss family in a deal unanimously approved by the NBA Board of Governors in October 2025. That reported $10 billion (£7.45 billion) purchase set the previous NBA record. In a joint statement, Kushner and Iger said they were "deeply honoured" to become stewards of the Lakers. They cited respect for Jerry and Jeanie Buss and pledged a long-term commitment to compete at the highest level and serve the team, its fans, and Los Angeles. Jerry Buss originally bought the Lakers in 1979 for $67.5 million (£50 million), a package that included the Los Angeles Kings hockey team and the Kia Forum arena. After his death in 2013, ownership passed to his six children through a trust. Walter also holds a stake in the LA Dodgers with Todd Boehly. Walter said owning the Lakers had been "one of the great honors of my life" and expressed confidence that "the best is still ahead." The Lakers have won 17 NBA titles, one fewer than the Boston Celtics' record 18. The sale to Kushner follows controversy surrounding FIFA president Gianni Infantino and an aborted plan to sell stakes in FIFA's competitions to private investors. Kushner's venture capital firm, Thrive Eternal, was expected to lead the proposed investor group for the FIFA Forward Enterprise proposal.