The Los Angeles Lakers are expected to be sold for a reported record $12.5bn (£9.3bn) less than a year after Mark Walter bought a majority share in the NBA outfit.
Josh Kushner, the brother of Jared, the son-in-law of US President Donald Trump, and Bob Iger, former chief executive of Disney, are buying a controlling stake in one of the world’s most iconic sports teams.
New Leadership
The NBA Board of Governors approved the deal in October 2025 and Walter bought his share, worth an estimated $10bn (£7.45bn) – previously a record – from the Buss family, per BBC Sport.
Kushner and Iger said in a statement: “As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world.
“We have immense respect for the leadership and vision of Jerry and Jeanie Buss.
“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 Evolution of the Buss Empire
In 1979, Jerry Buss bought the Lakers in a $67.5m (£50m) deal that also included the Los Angeles Kings hockey team and a Los Angeles arena, known as the Kia Forum.
Ownership was held in a Trust for his six children after he died in 2013 before a deal was struck with Walter, who also owns a stake in the LA Dodgers, alongside Todd Boehly.
“Owning the Los Angeles Lakers has been one of the great honors of my life,” said Walter.
“It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family.
“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.”
