Last year, the basketball world was rocked when the Buss family agreed to hand over majority control of the Los Angeles Lakers to billionaire Mark Walter in a then-record $10 billion deal. It felt like the end of an era. Now, it turns out it was only the opening act.
Los Angeles Lakers Sold in a Record-Breaking Deal
On the morning of August 12, 2026, ESPN insider Ramona Shelburne revealed that the Lakers are being sold once again. This time to businessmen Josh Kushner and Bob Iger, at a valuation north of $12.5 billion.
According to Shelburne, Kushner and Iger had actually been working toward landing an NBA expansion franchise in Las Vegas. But somewhere along the way, their focus shifted entirely. Instead of building a team from scratch, the pair made a push to buy one of the league’s crown jewels outright.
The Los Angeles Lakers are being sold to American businessman Josh Kushner and Bob Iger for a record breaking price over $12 billion, multiple sources told ESPN.
Kushner and Iger were involved in the expansion process in Las Vegas, but a stunning turn, they pivoted to make an…
— Ramona Shelburne (@ramonashelburne) August 12, 2026
As soon as the news broke, reactions from across the sports world began pouring in.
One of the earliest reactions from influencers and personalities in sports simply noted that no one had thought of this development.
“Mark Walter, the owner of the Dodgers, just decided to sell the Lakers for a reported $12 BILLION. One of the biggest ownership moves in sports history. Absolutely insane,” one influencer wrote, whereas another one said, “This is insane.”
Mark Walter, the owner of the Dodgers, just decided to sell the Lakers for a reported $12 BILLION.
One of the biggest ownership moves in sports history.
Absolutely insane. 🤯 https://t.co/lmWEunBh6b
— Tommy Kelson (@Tommy_Kelson) August 12, 2026
Six months ago, in March, the Wall Street Journal reported that Walter is the subject of a federal investigation into his financial dealings.
The probe reportedly centers on how money connected to Walter and his conglomerate, TWG Global, allegedly moved onto the books of insurance companies he owns after routing through a third entity.
That context has fueled speculation over whether the investigation played any role in Walter’s decision to sell the Lakers.
“Oh, Mark Walter is in big trouble, huh?” one influencer commented.
oh mark walter is in big trouble huh https://t.co/2Cbx3EePIo
— SJ (@SJBasketbal8) August 12, 2026
Iger spent over a decade steering the Walt Disney Company as its chief executive before stepping away in 2020.
Meanwhile, Kushner is best known as the founder of venture capital firm Thrive Capital. He is also the younger brother of Jared Kushner, the son-in-law of President Donald Trump. The reactions highlighted just how unusual the Lakers’ new ownership stands now.
“The Lakers are now owned by the former head of Disney and Jared Kushner’s younger brother,” NBA reporter for The Athletic, Esfandiar Baraheni, pointed out.
The Lakers are now owned by the former head of Disney and Jared Kushner’s younger brother. https://t.co/kKYorD1XIu
— Esfandiar Baraheni (@JustEsBaraheni) August 12, 2026
While most users were focused on how suddenly the Lakers’ ownership saga had taken another unexpected turn, one fan took a more humorous approach to the news. They suggested that the shocking development could be the result of a LeBron James effect.
“The LeBron effect needs to be studied. Left Cleveland — downhill. Left Miami — downhill. Left Cleveland AGAIN — downhill. Now the Lakers getting SOLD,” the user commented.
The LeBron effect needs to be studied 😂
Left Cleveland — downhill.
Left Miami — downhill.
Left Cleveland AGAIN — downhill.
Now the Lakers getting SOLD 😭😭Every franchise after Bron leaves: 📉
— Larry Rudolph (@ScoutFball) August 12, 2026
With the Lakers changing hands for more than $12 billion, one thing is already clear. It is that the business of owning the NBA’s most iconic franchise has reached an entirely different level.
