In a landmark move that underscores the soaring value of NBA franchises, the Los Angeles Lakers have been sold to entrepreneurs Josh Kushner and Bob Iger for an unprecedented $12.5 billion. This sale marks a significant moment in sports history, being the second record-setting transaction in just one year.
The Details of the Transaction
According to sources familiar with the negotiations, who spoke to The Associated Press on the condition of anonymity, the deal was finalised without public disclosure of specific terms. ESPN first broke the news of this monumental sale, confirming that Iger and Kushner have acquired the NBA’s most valuable franchise. Previously valued at $10 billion, the Lakers had seen a dramatic increase in worth since Mark Walter purchased a controlling stake from the Buss family.
The duo’s interest in the Lakers comes as they had been exploring opportunities to secure an NBA expansion team in Las Vegas. However, with this acquisition, they have bypassed the wait for expansion, a decision that may not come until the 2028-29 season.
Approval Process Ahead
The sale, while agreed upon, still requires the approval of the NBA’s board of governors, a process that could take several weeks. The next meeting of the board is scheduled for next month in New York, where the sale will be formally considered.
This $12.5 billion deal not only sets a record for American professional sports but also reflects a continuing trend of escalating franchise valuations in the NBA. For context, only three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets for a valuation of $3 billion, while the Boston Celtics were sold last year for just over $6 billion.
Walter’s acquisition of the Lakers in June 2025 had already set a new benchmark, and now Iger and Kushner have elevated the bar even further.
The Legacy of the Lakers
The Los Angeles Lakers are not just a team; they are a global phenomenon, boasting a rich history that includes 17 championships, the second most in NBA history after the Boston Celtics. As one of the league’s premier franchises, the Lakers consistently rank among the top in merchandise sales, further solidifying their status as a cultural icon.
Interestingly, this record-breaking sale comes on the heels of LeBron James’s departure from the Lakers after eight seasons, as he transitions to free agency and ultimately signs with the Philadelphia 76ers. This notable change in the roster could potentially influence the franchise’s future direction under its new ownership.
Why it Matters
The acquisition of the Lakers by Kushner and Iger not only reshapes the ownership landscape of the NBA but also signifies the immense financial potential that professional sports franchises hold in today’s market. As valuations soar, the implications extend beyond just the balance sheets; they reflect the growing cultural and economic significance of sports teams in a globalised world. The sale is a clear indication that the NBA remains a lucrative investment, attracting high-profile investors and setting the stage for an exciting future in basketball.