The Los Angeles Lakers have changed hands again. And somehow, one of the most valuable franchises in sports just got even more valuable.
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Mark Walter has agreed to sell the Lakers to businessman Josh Kushner and former Disney CEO Bob Iger at a staggering $12.5 billion valuation, according to ESPN. That's the largest valuation ever for the sale of an American professional sports franchise.
Here's the truly wild part: Walter only took control of the Lakers last year.
Walter purchased the Buss family's controlling interest in the franchise at a then-record valuation of approximately $10 billion. Just 14 months later, that number has jumped another $2.5 billion.
"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," Kushner and Iger said in a statement.
"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."
The deal still needs approval from the NBA's Board of Governors, a process that could take several weeks. The league's next Board of Governors meeting is scheduled for September.
Walter, who is also the primary owner of MLB's Los Angeles Dodgers, reportedly will not relinquish control of that franchise.
His brief run as Lakers owner comes to an end amid a federal investigation involving Guggenheim Investments. According to the Wall Street Journal, the U.S. Attorney's Office in Manhattan and the Securities and Exchange Commission have been examining how $16 billion in loans to companies connected to Walter or TWG Global ultimately landed with insurance companies he owned after passing through a third party.
Walter called owning the Lakers "one of the great honors of my life" in a statement to ESPN and said he believes "the best is still ahead" for the franchise.
So, who exactly is taking over?
Kushner, 41, is the founder and managing partner of Thrive Capital. He is also the son of U.S. Ambassador to France Charles Kushner and the brother of Jared Kushner.
Iger, meanwhile, is one of the biggest names in the entertainment industry. The 75-year-old had two separate runs as CEO of The Walt Disney Company, from 2005-20 and again from 2022 until his departure in March 2026.
Kushner and Iger had reportedly been involved with a group pursuing a potential NBA expansion franchise in Las Vegas before turning their attention toward the Lakers instead. Iger and his wife, Willow Bay, also became controlling owners of Angel City FC in 2024.
They'll inherit a Lakers franchise entering a fascinating new chapter on the basketball side, too.
The LeBron James era is over, and this is Luka Doncic's team now. Los Angeles has built around Doncic and Austin Reaves as it tries to remain relevant in a loaded Western Conference.
Oddsmakers aren't exactly predicting another Lakers championship parade just yet. Los Angeles currently sits at +3500, or 35-to-1, to win the 2027 NBA championship, according to ESPN BET. The Lakers are also +2000 to win the Western Conference, with their projected regular-season win total sitting at 46.5.
Compare that with Oklahoma City and San Antonio, both listed at +270 to win the title, and you get an idea of where the Lakers currently stand in the championship picture.
