Josh Kushner
The Los Angeles Lakers are being sold to Josh Kushner and Bob Iger for $12.5 billion PaleyMC/Flickr

A £9.7 billion ($12.5 billion) agreement for the Los Angeles Lakers is close to completion, according to two people familiar with the negotiations, in what would become the most expensive sale in North American sports history.

The deal would see Disney veteran Bob Iger and billionaire venture capitalist Josh Kushner take control of the franchise from Mark Walter, less than a year after he acquired majority ownership from the Buss family in a then record-breaking deal valued at about £7.8 billion ($10 billion).

Kushner, 41, is the younger brother of Jared Kushner, the husband of US President Donald Trump's daughter, Ivanka Trump. Although he is not related to Trump by blood, the family connection quickly fuelled online discussion following news of the proposed takeover.

Internet Reacts to Kushner's Trump Family Link

News of Kushner's involvement prompted jokes and debate across Reddit, with some users focusing more on his Trump family connection than his business credentials.

One Reddit user, posting under the name goongoblin113xc, wrote: 'Yikes we are cooked.' Another commenter, AccelerationFinish, joked that the Lakers were 'now backed by the most corrupt US President of all-time' and therefore 'can't lose now'.

Others were quick to correct the misconception. User KTurnUp argued: 'This Kushner bro isn't even related to Trump. All reports are they are Dem voters too.' Another commenter replied: 'Bruh, it's the brother of Trump's son-in-law.'

The exchange highlighted confusion among some fans over Kushner's relationship to the Trump family. While connected through his brother's marriage to Ivanka Trump, Kushner has long maintained a political identity separate from his brother.

In a joint statement, Kushner and Iger said they were 'deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world', adding they had 'immense respect for the leadership and vision of Jerry and Jeanie Buss'.

Walter described owning the Lakers as 'one of the great honours of my life' and thanked Jeanie Buss and the Buss family 'for welcoming me into this chapter'.

Who Is Josh Kushner?

Josh Kushner is a billionaire venture capitalist, founder of Thrive Capital, husband of supermodel Karlie Kloss and younger brother of Jared Kushner.

He founded Thrive Capital in 2009 and built it into one of Silicon Valley's leading investment firms, backing companies including Instagram, Stripe, Spotify and OpenAI. Forbes estimated his net worth at around $5.2 billion in late 2025.

Despite his family's ties to Donald Trump, Kushner has publicly distanced himself from the president's politics. Described by his spokesperson as a 'lifelong Democrat', he skipped Trump's 2017 inauguration to attend the Women's March and has donated hundreds of thousands of dollars to Democratic political action committees, according to Federal Election Commission filings.

His wife, Karlie Kloss, has also publicly identified as a Democrat. The couple married in 2018 and have two sons.

Kushner's Sporting Interests

Kushner already owns a minority stake in the Miami Heat, which he is expected to sell to complete the Lakers acquisition. He also previously held a small stake in the Memphis Grizzlies.

Before pursuing the Lakers, Kushner and Iger reportedly explored an NBA expansion bid in Las Vegas. Iger, 75, stepped down as Disney chief executive earlier this year and, together with his wife Willow Bay, owns National Women's Soccer League club Angel City FC.

Walter, meanwhile, retains ownership interests in the Los Angeles Dodgers, Chelsea, the Los Angeles Sparks and the Cadillac Formula One team.

The Lakers sale still requires approval from the NBA's board of governors, whose next scheduled meeting is due to take place in New York next month.

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