Bob Iger and Josh Kushner agree to buy Lakers at reported $12.5 billion value
Mark Walter has agreed to sell the Lakers to Bob Iger and Josh Kushner, pending NBA approval, at a reported valuation near $12.5 billion.
By Maya Lindqvist · Senior Technology Correspondent
2 min read
The reported Bob Iger Josh Kushner Lakers sale would value the NBA franchise at roughly $12.5 billion, setting a reported U.S. sports-franchise record. Mark Walter has agreed to sell the team to Iger and Kushner, according to reporting published Aug. 12, but the proposed takeover still requires NBA Board of Governors approval.
Sky Sports reported that Walter, who also owns a stake in the Los Angeles Dodgers, increased his Lakers holding to 85% last year after first buying 27% in 2021. The Buss family held the remaining 15%, and it was not clear whether that interest is part of the planned transaction.
The reported $12.5 billion figure is a franchise valuation, not a disclosed price for Walter's particular stake. Fortune, citing ESPN, described it as the highest price paid for a U.S. sports franchise; Sports Business Journal separately reported a price of more than $12 billion.
What is the Lakers sale worth, and has it closed?
Reports put the proposed Lakers deal at about $12.5 billion, while the NBA has not announced Board of Governors approval in the evidence available. That means the ownership transfer should be treated as an agreement awaiting league approval, rather than a completed sale.
Walter's controlling-stake purchase from the Buss family was valued at $10 billion about 14 months earlier, according to Fortune and Sky Sports. On those reported valuation figures, the increase is $2.5 billion, or 25%, not 21%.
The 21% figure can describe the approximate annualized compound return over a 14-month period. It does not represent the total increase in the franchise's reported valuation. The reports do not specify the precise amount Walter paid for his ownership interest or what portion Iger and Kushner would acquire.
Iger and Kushner said they were honored by the chance to become the Lakers' stewards and said they intended to build on the foundation established by Jerry and Jeanie Buss. Their statement said they planned to compete at the highest level and serve the team, its supporters and Los Angeles, according to Sky Sports and Sports Business Journal.
Walter called ownership of the Lakers one of the great honors of his life and characterized it as an extraordinary investment in his statement, as reported by Sports Business Journal. No explanation for his decision to sell was established in the reports.
The proposed deal would put a former Disney chief executive and the founder of Thrive Capital in control of one of the NBA's best-known franchises, subject to the league's approval process.
This story draws on original reporting from Fortune.