The Los Angeles Lakers are being sold once again, and the news is sending shockwaves across the NBA world. For context, Mark Walter, the owner of the MLB team the Los Angeles Dodgers, purchased the franchise for a staggering $10 billion, then the record figure.
ESPN’s Ramona Shelburne reported that the Lakers are being sold to American businessmen Kushner and Bob Iger for a record-breaking price of more than $ 12 billion, according to multiple sources.
What Did Mark Walter Say About Selling the Lakers?
Kushner is the founder and managing partner of Thrive Capital. Interestingly, Kushner is also the minority owner of the Miami Heat. The businessman is also related to Jared Kushner, who is the son-in-law of President Donald Trump.
Kushner and Iger had previously been involved in the NBA’s expansion process for a potential franchise in Las Vegas, but in a stunning pivot, the pair instead made an aggressive offer to purchase the Lakers outright from Walter, who acquired his controlling interest in the team from the Buss family just last year.
Walter, the CEO and chairman of TWG Global, issued a statement to ESPN reflecting on his brief tenure as the Lakers’ majority owner.
Statement to ESPN from Mark Walter: “Owning the Los Angeles Lakers has been one of the great honors of my life – 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… https://t.co/IMvaW0Iolr
— Ramona Shelburne (@ramonashelburne) August 12, 2026
“Owning the Los Angeles Lakers has been one of the great honors of my life, an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said.
“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.”
The sale marks the second change in Lakers ownership in less than 18 months. Walter’s original purchase of the franchise last October was unanimously approved by the NBA’s Board of Governors and valued at $10 billion.
Kushner and Iger issued their own joint statement to Shelburne following the news.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” the two said. “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,” they said, as reported by Shelburne.
The rapid turnaround has already drawn plenty of reaction across the league, given that Walter’s own purchase was finalized recently. Should the sale receive the necessary approvals, it would mark one of the fastest ownership flips of a major American sports franchise in recent memory.
