The sports world just got hit with a seismic shift. In a move that nobody saw coming, billionaire venture capitalist Josh Kushner and former Disney CEO Bob Iger have agreed to buy the Los Angeles Lakers for a jaw-dropping $12.5 billion. Yes, you read that right.
I know what you’re thinking. Didn’t someone buy the Lakers? You’re not wrong. Mark Walter purchased the team for $10 billion just last year. But now, just 14 months later, the Lakers are changing hands again at a price that shatters every record in professional sports history.
Here’s the quick answer: Josh Kushner and Bob Iger are purchasing the Lakers from Mark Walter for $12.5 billion in a deal that came together in just three days. The sale requires NBA approval but signals a new era for one of the world’s most iconic sports franchises.
Key Takeaway:
- The $12.5 billion price tag is the highest for any professional sports team in history.
- Kushner and Iger pivoted from pursuing a Las Vegas expansion team.
- The deal is expected to close pending NBA Board of Governors approval in September
Who Is Josh Kushner? The Man Behind the Historic Lakers Purchase
Look, you might recognize the last name. Josh Kushner is the younger brother of Jared Kushner, who is married to Ivanka Trump. But don’t let the political connections fool you—Josh has carved out his own empire far from the White House spotlight.
At 41 years old, Kushner is a self-made billionaire with an estimated net worth of around $5.2 billion. He founded Thrive Capital in 2010, and the venture capital firm has become a tech powerhouse, backing companies like OpenAI, SpaceX, Spotify, Stripe, and Instagram.
He also co-founded Oscar Health in 2012, a health insurance company that disrupted the traditional market.
But here’s the thing about Josh: he’s not his brother. While Jared served in the Trump administration, Josh is a lifelong Democrat who attended the Women’s March in 2017 and said he wouldn’t vote for Trump. He’s kept his distance from the family’s political orbit, telling Forbes in 2017 that “liberal values have guided my life” .
Now, he’s about to become one of the most powerful figures in the NBA.
Key Takeaway:
- Kushner is a tech venture capitalist worth ~$5.2 billion.
- He founded Thrive Capital and Oscar Health.
- He’s politically liberal and separate from his brother Jared’s Trump-aligned politics.
Bob Iger and Josh Kushner: An Unlikely Power Duo
So how did these two end up buying the Lakers together? The story is actually pretty fascinating. Bob Iger, 75, is one of the most legendary figures in entertainment. He served as Disney’s CEO for nearly two decades, overseeing acquisitions like Pixar, Marvel, Lucasfilm, and 20th Century Fox.
Iger and Kushner were reportedly introduced through their partners—Kushner’s wife, supermodel Karlie Kloss, and Iger’s wife, Willow Bay. Iger joined Kushner’s Thrive Capital as an advisor, and the two developed a mentorship that eventually led to a business partnership.
According to Iger, the Lakers deal came together in just three days. They were originally pursuing an NBA expansion franchise in Las Vegas but pivoted when they heard Walter might be interested in selling his Lakers stake.
“We decided immediately that, given the value of the franchise and the iconic nature of the team, it would be very smart to go for it,” Iger told the California Post. “The deal came together in three days. Just like that.”
Key Takeaway:
- Iger and Kushner formed a partnership through Thrive Capital.
- They pivoted from Las Vegas expansion to Lakers purchase in 3 days.
- Both bring complementary expertise: tech/VC and entertainment/media.
The $12.5 Billion Price Tag: Breaking Down the Record Deal
Let’s put this number in perspective. In 2025, Mark Walter bought the Lakers for $10 billion, which was already a record. That deal didn’t even last a full year before Kushner and Iger swooped in with an offer $2.5 billion higher.
To give you a sense of how insane this is: the Boston Celtics sold for $6.1 billion in 2025. The Seattle Seahawks sold for $9.6 billion earlier in 2026. The Lakers are now in a league of their own—literally.
So why the massive jump? Several factors are at play.
First, Walter’s sudden willingness to sell. Just 14 months after buying the team, he’s reportedly facing federal investigations involving his insurance businesses. Federal agents reportedly seized his phone last fall, and investigators are examining whether investors were misled about company valuations.
Second, the Lakers’ brand value. As Iger put it, “Having an opportunity to own not just any NBA team, but the LA Lakers is… it’s extraordinary from a life experience perspective and business perspective”.
Third, Kushner’s aggressive approach. According to The Athletic, “Kushner reached out to Walter on Friday, and the deal quickly came together over the weekend… Walter, per the source, wasn’t necessarily looking to sell—the offer from Kushner and Iger was just too good to pass up”.
Key Takeaway:
- The $12.5 billion price exceeds last year’s $10 billion by 25%
- Walter’s federal investigation likely motivated the quick sale.
- The Lakers’ brand value continues to skyrocket.
What About Jeanie Buss? The Buss Family Legacy Continues
Here’s something that might surprise you. Even though the Lakers are being sold, Jeanie Buss isn’t going anywhere. At least not anytime soon.
Iger confirmed that he and Kushner will honor the agreement Jeanie Buss made with Mark Walter when he bought the team in 2025. That agreement guarantees Buss will remain the team’s governor for at least four to five more years.
Jerry Buss bought the Lakers in 1979 and built the Showtime dynasty that defined an era. Jeanie inherited the team and has been its public face and governor for years. Even as ownership changes hands, she’ll still be the NBA’s representative for the franchise.
Key Takeaway:
- Jeanie Buss remains governor for at least 4-5 years.
- The Buss family retains an ownership stake.
- The Lakers’ leadership continuity is preserved.
Who Will Actually Run the Lakers?
This is where it gets interesting. According to multiple reports, Bob Iger will be the one most actively involved with the Lakers day-to-day, not Josh Kushner.
A source told the California Post that “Iger will be the one most actively involved with the Lakers once the sale becomes official”. This makes sense when you think about their respective backgrounds. Iger has decades of experience running one of the world’s largest entertainment empires. Kushner is more of a silent investor who focuses on his VC firm.
Kushner does have NBA experience, though. He currently holds a minority stake in the Miami Heat—which he’ll need to sell to finalize the Lakers purchase—and previously owned a minority stake in the Memphis Grizzlies.
Both men say they’re “lifelong NBA fans” and committed to building on the Lakers’ foundation rather than making drastic changes.
Key Takeaway:
- Iger will take the more active day-to-day role.
- Kushner will likely focus on strategic investment.
- Both have sports ownership experience in various capacities.
Luka Doncic Reacts: Superstar Welcomes New Ownership
Every Lakers story these days circles back to one man: Luka Doncic. With LeBron James having departed, Doncic is the face of the franchise and the cornerstone of its future.
The Slovenian superstar, signed through the 2028-29 season, welcomed the new ownership on social media: “Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA.
I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise. I look forward to meeting Josh and Bob so we can get to work building something special in LA together”.
Magic Johnson, the Lakers legend, also praised the deal: “Laker fans, you couldn’t have two better owners.
Key Takeaway:
- Luka Doncic is the franchise’s centerpiece for the future.
- Both Doncic and Magic Johnson have welcomed the new owners.
- The Lakers’ championship window remains open.
NBA’s Financial Future
Let’s step back and look at the bigger picture. This deal isn’t just about the Lakers. It’s about where the entire sports industry is heading.
Three years ago, Michael Jordan sold the Charlotte Hornets for a $3 billion valuation. Last year, the Celtics went for $6.1 billion. Now the Lakers are at $12.5 billion. The NBA’s value is exploding, and the trend shows no signs of slowing down.
Kushner’s involvement also signals a shift in who owns sports teams. It’s no longer just about the ultra-wealthy or traditional sports families. Tech investors and venture capitalists are increasingly becoming the power players in sports ownership.
And with the NBA eyeing expansion in Seattle and Las Vegas in the 2028-29 season, the next few years could see even more record-breaking valuations.
Key Takeaway:
- The NBA’s franchise values are skyrocketing.
- Tech investors are becoming major sports ownership players.
- Expansion on the horizon could push values even higher.
Question: How much did Josh Kushner and Bob Iger pay for the Lakers?
Answer: The deal values the Lakers at a record-breaking $12.5 billion, making it the most expensive sale of a professional sports franchise in history.
Question: Is the Lakers sale finalized yet?
Answer: Not yet. The sale still requires approval from the NBA’s Board of Governors, which is scheduled to meet in September 2026 to review and potentially ratify the transaction.
Question: How quickly did the Kushner-Iger deal come together?
Answer: According to Bob Iger, the deal came together in just three days after they learned Mark Walter might be interested in selling. They pivoted from pursuing a Las Vegas expansion franchise to acquiring the Lakers.
Question: Who is Josh Kushner?
Answer: Josh Kushner is a 41-year-old venture capitalist and founder of Thrive Capital, which has backed companies like OpenAI and SpaceX. He’s the younger brother of Jared Kushner and has an estimated net worth of $5.2 billion.
Question: Will Jeanie Buss remain involved with the Lakers?
Answer: Yes. Bob Iger has confirmed that Jeanie Buss will remain the team’s governor for at least four to five years, honoring the agreement she made with Mark Walter when he bought the team in 2025.
Bottom Line
Josh Kushner and Bob Iger just pulled off one of the most stunning deals in sports history, buying the Los Angeles Lakers for a record $12.5 billion. The deal came together in just three days and represents a massive shift in NBA ownership.
With Jeanie Buss staying on as governor for the next few years and Luka Doncic leading the team on the court, the Lakers are entering a fascinating new chapter. The NBA Board of Governors will review the sale in September, but barring any surprises, the Lakers will soon have two of the most powerful men in business and entertainment at the helm.
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