The Los Angeles Lakers are being sold to Josh Kushner and Bob Iger for $12.5 billion, a record-breaking figure in professional sports, multiple sources told ESPN on Wednesday. The deal pairs two of American business’s most prominent names in a transaction that resets the benchmark for franchise valuations.
Who are the new owners?
Josh Kushner is the founder of Thrive Capital, one of Silicon Valley’s most active venture firms, and co-founder of Oscar Health. He already holds a minority stake in the Miami Heat. Bob Iger served as Disney CEO from 2005 to 2020 and again from 2022 to 2026, overseeing acquisitions of Pixar, Marvel and Lucasfilm along the way.
The two profiles complement each other: new-economy capital from Kushner, brand-building credibility from Iger on a scale few executives can claim.
A record that keeps breaking
The $12.5 billion price surpasses the previous mark set when Dodgers owner Mark Walter purchased the franchise for $10 billion about a year ago. Walter stands to pocket a $2.5 billion profit from the quick turnaround, an extraordinary return that reflects NBA franchise values rising faster than almost anyone projected.
For context: when Jerry Buss purchased the Lakers in 1979 for $67.5 million, the price was already considered steep. Seventeen championships and five decades of marquee players later, the franchise is the most recognizable brand in basketball.
What this means for the team
LeBron James departed for the Philadelphia 76ers this offseason, leaving the Lakers in rebuild mode. The new owners inherit a blank-slate project rather than a contending roster. Neither Kushner nor Iger addressed the basketball side in initial reports. A formal introduction is expected in the coming weeks once the transaction clears standard league processes.
Bottom line
- $12.5 billion – the highest price ever paid for a professional sports team, surpassing the previous record by $2.5 billion
- Kushner brings Silicon Valley capital and a Heat minority stake; Iger brings two decades of brand-building at Disney
- The Lakers enter a new ownership era mid-rebuild, with LeBron gone and a roster to construct from scratch
Sources: ESPN, NBC News, CBS Sports
