The Los Angeles Lakers are changing hands for the second time in just over a year, with a group led by former Disney chief executive 247wallst.com and venture capitalist sports.yahoo.com agreeing to buy the franchise at a record $12.5 billion valuation. The transaction was negotiated over a long weekend, with Iger and Kushner first approaching owner Mark Walter on Sunday, August 9, 2026, and terms agreed to by Wednesday, August 12, 2026.
Lakers Sold for Record $12.5 Billion to Bob Iger and Josh Kushner
The deal is not yet closed and requires approval from the NBA Board of Governors, which has its next scheduled board meeting in September. Until that vote takes place, Walter remains the majority owner. Under the agreement, the Buss family retains a 15% stake, and Jeanie Buss will continue to serve as the team’s governor for at least five years, carrying over terms from her original 2025 agreement.
NBA Executives and Agents React to the Rapid Sale
The rapid turnaround caught the sports world by surprise, coming less than 10 months after Walter’s group acquired controlling stake in the franchise. NBA execs and agents reacted with astonishment to the sudden move.
Talk about a curveball,
an agent who has had clients on the Lakers roster within the last five years told ESPN.
A member of a Western Conference team’s ownership group expressed curiosity regarding how the transaction is structured, noting that Kushner and Iger are taking on a massive equity check. Meanwhile, an Eastern Conference executive questioned the timing, pointing out that owners do not typically sell a marquee franchise so quickly unless other motivating factors are at play.
Before pursuing the Lakers, Iger and Kushner had explored an NBA expansion franchise in Las Vegas. Industry observers note that Iger and NBA commissioner Adam Silver share a long-standing relationship, having previously collaborated on league television rights deals with ESPN and the restart of the 2019-20 season inside the bubble at Disney properties in Orlando, Florida, during the COVID-19 pandemic.
Federal Investigation and Tax Implications Surround the Deal
The transaction brings a massive paper profit for Walter, who previously purchased controlling interest from the Buss family at a roughly $10 billion valuation. However, multiple sources have raised questions regarding the influence of an ongoing federal investigation into Walter’s business empire. The U.S. Attorney’s Office in Manhattan and the Securities and Exchange Commission are investigating how approximately $16 billion in loans ended up on the balance sheet of TWG Global, examining whether private-credit investments managed through Walter-controlled insurance companies were properly disclosed.
The record sale also carries significant tax considerations. Walter’s 71% stake in the team was acquired across multiple purchases, including a 27% stake bought in 2021 at a $5.5 billion valuation. While headlines report billions in gains, tax liabilities from the rapid sale could result in a tax bill ranging from $1.1 billion up to nearly $1.3 billion depending on whether the sale finalizes before the one-year mark, leaving an estimated $1.7 billion in after-tax profits.
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