The Los Angeles Lakers are poised to change hands in a landmark transaction valued at $12.5bn (£9.25bn), with venture capitalist Josh Kushner and former Disney chief executive Bob Iger preparing to acquire the franchise from current owner Mark Walter.
Walter's tenure as principal owner is proving remarkably brief. He purchased the team just over a year ago for what was then a record £7.4bn, but the impending sale will deliver him a substantial profit on that investment.
In a joint statement to Sky Sports News, Kushner and Iger outlined their vision for the storied franchise.
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. 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.
Walter's path to ownership began in 2021 when he acquired a 27 percent stake in the organisation. He subsequently expanded his holding to 85 percent last year, according to ESPN, at a valuation of $10 billion approved by the NBA Board of Governors on October 30, 2025.
The Buss family's ownership stake has become a point of contention. The family retained 15 percent of the club, though the precise details of whether that remaining holding will transfer to Kushner and Iger remain unclear. According to Ground News, the family's remaining 17.82 percent stake is valued at approximately $2.2 billion, and five of the Buss siblings have voted to sell it.
That decision has triggered a legal challenge from Jeanie Buss, who is contesting the siblings' vote. The five other Buss family members have now filed formal opposition to her court challenge, arguing it is legally and factually baseless and seeking to keep the family stake sale on schedule, according to reports.
Walter also holds a stake in the LA Dodgers alongside Todd Boehly, diversifying his sports portfolio across Los Angeles's major franchises.
Kushner brings significant experience in high-profile sports ventures. His firm, Thrive Capital, was recently involved in a controversial proposal to sell a stake in the FIFA World Cup, placing him at the centre of discussions about the sport's commercial future. His older brother, Jared Kushner, is married to Ivanka Trump, daughter of former US president Donald Trump.
Iger's appointment as co-owner marks a return to the sports world following his departure as chief executive of Walt Disney earlier this year. His tenure at Disney included oversight of the company's substantial sports broadcasting interests.
Minority owner Patrick Soon-Shiong, who holds 4 percent of the team, is not part of the reported transaction, meaning his stake will remain separate from the Kushner-Iger acquisition.
What comes next
The transaction requires approval from the NBA Board of Governors, with a vote expected in November. Meanwhile, a court hearing on Jeanie Buss's petition to block the family stake sale is scheduled for December 8, adding another layer of complexity to the ownership transition.
NBA rules require a governor to hold at least 15 percent of a team, a threshold that could affect Jeanie Buss's position if the family's remaining stake is sold in full.
