The Los Angeles Lakers are to be sold for a reported record-breaking $12.5bn – £9.3bn – less than a year after Mark Walter took a majority stake in the NBA franchise. This momentous transaction, orchestrated by Josh Kushner, the brother of US President Donald Trump’s son-in-law Jared, and former Disney executive Bob Iger, marks a significant shift in ownership for one of the world’s most recognizable sports teams. Walter, who previously owned the Los Angeles Kings hockey team and a portion of the Kia Forum, bought his share, reportedly worth an estimated $10bn (£7.45bn) – a previous record – from the Buss family in a unanimously approved agreement by the NBA Board of Governors in October 2025. Kushner and Iger stated, ‘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.’ Their 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.’ Jerry Buss acquired the Lakers in a $67.5m deal (£50m) in 1979, encompassing the Los Angeles Kings hockey team and the Kia Forum, a pivotal moment that established the franchise’s legacy. Following Buss’s death in 2013, ownership was transferred to his six children through a Trust, with Walter also holding a stake in the LA Dodgers with Todd Boehly. Walter, who has been a vocal proponent of the Lakers’ continued success, emphasized the community, fan support, and the city’s appreciation for the team, stating, ‘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.’ The Lakers’ past three years have been marked by significant changes, including the departure of LeBron James, who joined the Philadelphia 76ers in the summer, leaving a void in the team’s scoring prowess. However, the acquisition of Luka Doncic in February 2025, coupled with the arrival of the talented player, provided a crucial catalyst for rebuilding and revitalizing the franchise. Thrive Eternal, an American venture capital firm founded by Kushner, was expected to lead the proposed investor group for the Fifa Forward Enterprise (FFE) proposal. The deal involving Kushner comes after he was part of the recent controversy surrounding FIFA President Gianni Infantino and an aborted plan to sell off stakes in the governing body’s competitions to private investors. The LA Lakers’ past three years have been marked by several notable events including the loss of LeBron James, who joined the Philadelphia 76ers, and the arrival of Luka Doncic, who is now the team’s primary star. The Lakers’ 17 NBA titles – one less than the record of 18 held by the Boston Celtics – underscore their enduring presence in the sport. The deal, which secures Kushner’s ownership, involves a $12.5bn – £9.3bn valuation, representing a significant increase over the previous record of $10bn (£7.45bn) set in 2023. The Lakers’ long-term commitment to the team remains steadfast, with Jerry and Jeanie Buss emphasizing the importance of the community, fans, and the city of Los Angeles. The acquisition of Kushner signifies a new era for the franchise, with a focus on rebuilding and achieving sustained success. The Lakers have seen a resurgence with a new management team and a renewed commitment to fan engagement, with the goal of competing at the highest level and maintaining their position as a premier sports franchise. The agreement is expected to be finalized with a substantial long-term commitment, ensuring the Lakers’ continued prominence in the sporting world. The future of the Lakers is secured with this major investment, promising a return to championship contention and a sustained legacy of excellence.” ], , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Source: Adom Sports
