Los Angeles Lakers Sold for Record Price

The Los Angeles Lakers are being sold to businessmen Josh Kushner and Bob Iger for a record-breaking $12.5 billion. This marks the second significant sale in a year. The Associated Press obtained this information from a source familiar with the terms, who requested anonymity, while neither party publicly disclosed specific details.

ESPN initially reported that Kushner and Iger are purchasing the NBA’s most valuable franchise, valued at $10 billion the previous year when Mark Walter acquired a controlling stake from the Buss family. Both businessmen attempted to secure an expansion team for Las Vegas before acquiring the Lakers, thus bypassing the wait for a decision on expansion, which might occur in the 2028-29 season.

The sale requires approval from the NBA’s board of governors, a process that can span several weeks. The next board meeting is scheduled for the following month in New York. The $12.5 billion price is a record-setting figure for U.S. professional sports, highlighting a trend of rising NBA franchise values. Three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets, valuing the team at $3 billion. The Boston Celtics set a record last year with a sale valued at just over $6 billion, which has since been surpassed.

Mark Walter’s acquisition of a controlling stake in the Lakers in June 2025 set a previous benchmark. Initially, in 2021, he acquired a 27% minority stake, contributing to a franchise valuation of $10 billion. Over its history, the Lakers have secured 17 championships, ranking second in NBA history behind Boston’s 18. The franchise is a global brand consistently leading in merchandise sales.

This exceptional sale price follows LeBron James’ departure from the Lakers. James, holding the title of the league’s all-time leading scorer, left after eight seasons with the team to enter free agency, ultimately signing with the Philadelphia 76ers.

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