Iger, Kushner to buy Lakers for record $12.5 billion
Mark Walter has sold his majority stake in the Los Angeles Lakers to investors Joshua Kushner and Bob Iger less than a year after taking control of the NBA franchise, reports a Qazinform News Agency correspondent.
The transaction values the Lakers at $12.5 billion, according to a person familiar with the deal. Walter acquired the team in October 2025 at a valuation of $10 billion.
Kushner and Iger said in a joint statement that ‘they were deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world’.
Kushner is the founder of venture capital firm Thrive Capital, which Iger joined earlier this year. Iger, 75, also stepped down as CEO of Disney in 2026 after leading the entertainment giant for about two decades across two separate terms.
The pair had previously shown interest in acquiring a potential NBA expansion franchise in Las Vegas.
Walter, 66, controls sports and financial investments through TWG Global. His portfolio includes stakes in Major League Baseball's Los Angeles Dodgers, English Premier League club Chelsea and the WNBA's Los Angeles Sparks.
Earlier, Qazinform News Agency reported that the Philadelphia 76ers officially signed four-time NBA champion and four-time NBA Most Valuable Player LeBron James at the end of July.
