Josh Kushner and Bob Iger Buy Lakers for Record $12.5B on August 13

By Huzaifa Zahoor

August 13, 2026

05:21 PM

3 min read

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Key Points

Josh Kushner and Bob Iger agreed to buy the Lakers for $12.5 billion, a record for North American sports franchises.

The deal requires NBA board approval, with the next vote scheduled for September in New York.

Mark Walter sold the team for $2.5 billion more than he paid just 11 months earlier.

Kushner, worth $5.2 billion, runs venture capital firm Thrive Capital and previously owned stakes in the Grizzlies and Heat.

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Josh Kushner and Bob Iger reached a deal to buy the Los Angeles Lakers for $12.5 billion, the highest price ever paid for a North American sports franchise. The agreement came together in days after the two businessmen pivoted from pursuing an NBA expansion team in Las Vegas. The sale must still clear NBA board approval, a process that could stretch into 2027.

How the deal came together

Kushner and Iger were actively exploring ownership of a new NBA franchise in Las Vegas when they learned that current Lakers owner Mark Walter might sell. They immediately pivoted and made an aggressive offer to Walter, who had purchased the team just over a year ago for approximately $10 billion. Walter, CEO of Guggenheim Partners and owner of the Los Angeles Dodgers, accepted the new bid within days.

What happens next for the sale

The deal requires approval from the NBA’s board of governors. The formal ownership transfer application must first be filed to NBA Commissioner Adam Silver. A nine-person advisory finance committee will then vet Kushner and Iger, including background checks and financial reviews. Because both men were already being vetted for the Las Vegas expansion, the NBA may have already completed some legwork. The next board meeting is set for September in New York, though the full process could take several months or extend into 2027.

Who are the new owners

Josh Kushner, 39, is the younger brother of Jared Kushner, President Donald Trump’s son-in-law. He founded and runs Thrive Capital, a venture firm that backed Instagram, Spotify, Stripe, and OpenAI. Kushner has an estimated net worth of $5.2 billion. Bob Iger, the former Disney CEO, led the entertainment giant for 15 years. He also has significant wealth and sports experience through prior investments.

Why this price is historic

The $12.5 billion price shatters the previous record of $9.6 billion paid for the Seattle Seahawks. The Boston Celtics sold for $6.1 billion in 2025. The Lakers’ 17 championships and storied history make them one of sports’ most valuable assets. The rapid resale of the team by Walter, who paid $10 billion just 11 months ago, signals how quickly valuations are climbing in professional sports.

Final Thoughts

The Lakers sale marks a stunning shift in sports ownership, with billionaire investors treating franchises as core equity holdings. Approval is likely but not guaranteed, leaving the deal in limbo until the NBA board votes in September or later.

FAQs

Why did Mark Walter sell the Lakers after just one year?

Walter accepted a $12.5 billion offer from Kushner and Iger, which exceeded his $10 billion purchase price by $2.5 billion. He called ownership an honor but did not cite a specific reason for the quick sale.

When will the NBA approve the Kushner and Iger purchase?

The NBA board of governors must vote on the deal. The next board meeting is September in New York, though the full vetting process could extend into 2027.

Is Josh Kushner related to Jared Kushner?

Yes, Josh is the younger brother of Jared Kushner, who is married to Ivanka Trump and served as senior advisor to President Donald Trump.

How much more did Kushner and Iger pay than Walter paid?

They paid $12.5 billion versus Walter’s $10 billion purchase price, a $2.5 billion premium in just 11 months.

Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.

About Author

Huzaifa Zahoor

Co Founder

Huzaifa Zahoor is the engineer who built Meyka. He has spent years writing Python, training AI models, and building data pipelines specifically for financial markets. His technical articles have reached over 30,000 readers on Medium, so he knows how to make complex things easy to follow. If this article touches on how the tools work, he is the person who actually built them.