The Los Angeles Lakers are changing ownership again, and this time the price could rewrite the record books for professional sports.
Venture capitalist Josh Kushner and former Disney CEO Bob Iger have agreed to purchase the Lakers in a blockbuster deal valuing the legendary NBA franchise at approximately $12.5 billion.
If approved by the NBA, the transaction would represent the highest valuation ever for a U.S. professional sports team, further demonstrating how dramatically the value of elite sports franchises has increased.
Josh Kushner and Bob Iger Are Buying the Lakers
Kushner and Iger are leading the group acquiring control of the Lakers from billionaire Mark Walter, who only recently became the team's majority owner.
Walter acquired majority control from the Buss family in a transaction that valued the Lakers at approximately $10 billion. The NBA approved that deal in October 2025.
Now, less than a year after that approval, the Lakers are being valued at approximately $12.5 billion.
That represents an extraordinary increase of roughly $2.5 billion in franchise valuation in a remarkably short period.
The new transaction still requires approval from the NBA's Board of Governors.
Who Is Josh Kushner?
Josh Kushner is a billionaire investor and the founder of Thrive Capital, a venture capital firm known for investing in major technology companies.
Kushner and Iger had previously explored the possibility of becoming involved with a potential NBA expansion franchise in Las Vegas.
Instead of waiting for expansion, they now have an opportunity to acquire one of the most recognizable sports franchises in the world.
Owning the Lakers immediately gives their investment group access to a global basketball brand with decades of history, championship success and enormous commercial potential.
Bob Iger Brings Decades of Media Experience
Bob Iger brings another important element to the ownership group: extensive experience in global entertainment and media.
Iger spent decades at Disney, including serving as CEO during a period when the company expanded through major acquisitions and strengthened properties including ESPN, Pixar, Marvel, Lucasfilm and 21st Century Fox.
His combination of sports-media knowledge, entertainment experience and global brand building could be particularly valuable for the Lakers.
Modern sports franchises are no longer simply basketball teams.
They are increasingly becoming global media, entertainment, merchandise, licensing and intellectual-property businesses.
Few NBA organizations have more potential in those areas than the Lakers.
Lakers Jump From $10 Billion to $12.5 Billion
The speed of the Lakers' increase in value may be one of the biggest stories surrounding the transaction.
Walter's acquisition valued the organization at approximately $10 billion.
The new Kushner-Iger transaction reportedly places the valuation around $12.5 billion.
That's approximately a 25% increase from the previous $10 billion valuation.
For investors, the deal provides another example of why ownership stakes in elite professional sports franchises have become some of the world's most coveted assets.
There are only 30 NBA franchises, and teams with the history, market size and international recognition of the Lakers almost never become available.
Why Are the Los Angeles Lakers Worth So Much?
The Lakers aren't simply an NBA franchise.
They are one of the most recognizable sports brands on the planet.
The organization has built its reputation through generations of superstars including Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O'Neal and LeBron James.
The franchise has also benefited enormously from operating in Los Angeles, one of the world's largest entertainment and media markets.
That combination creates revenue opportunities extending far beyond ticket sales.
Media rights, sponsorships, merchandise, licensing, international expansion, premium experiences and digital content can all contribute to the long-term value of the Lakers brand.
A New Lakers Era Built Around Luka Dončić
The ownership transition also arrives during a major transformation on the basketball side.
The Lakers have moved into the Luka Dončić era, giving the franchise another global superstar capable of becoming the centerpiece of the organization for years.
For incoming ownership, having an internationally recognized player entering the prime years of his career could significantly strengthen the Lakers' worldwide commercial appeal.
Building a championship contender around Dončić will likely become one of the biggest priorities facing the organization's leadership.
Jeanie Buss Expected to Remain Involved
Despite another ownership change, the Buss family's connection to the Lakers isn't necessarily disappearing immediately.
Iger has indicated that the new ownership group intends to honor the existing arrangement allowing Jeanie Buss to continue serving as the Lakers' governor.
That could provide organizational continuity while Kushner and Iger transition into ownership.
The Buss family has been synonymous with the Lakers since Dr. Jerry Buss purchased the franchise in 1979 and helped transform it into one of professional sports' premier entertainment brands.
The Lakers Sale Shows How Valuable Sports IP Has Become
The reported $12.5 billion Lakers transaction represents something bigger than another NBA ownership change.
Professional sports franchises have increasingly become scarce global intellectual-property assets.
Teams can monetize their brands through television rights, streaming, sponsorships, merchandise, gaming, international licensing, live events, real estate and direct-to-consumer media.
The strongest franchises also possess something investors cannot easily recreate: decades of history and emotional connection with millions of fans.
That scarcity helps explain why valuations for premier sports organizations continue climbing.
What's Next for the Lakers?
The transaction must still complete the NBA approval process before Kushner and Iger officially take control.
But if finalized at the reported valuation, the deal would establish another massive benchmark for professional sports ownership.
A franchise that was valued around $10 billion during its previous ownership transaction is now being valued around $12.5 billion.
For the Lakers, it represents the beginning of another ownership era.
For the sports business industry, it may be an even bigger message:
The world's biggest sports franchises are becoming some of the world's most valuable media and entertainment properties.
Get more sports news here.