Los Angeles Lakers
Josh Kushner and Bob Iger have purchased the Los Angeles Lakers for a record $12 billion (£9.3B) Kyle Richards/Unsplash

The sports world was left completely stunned as media, technology, and finance titans finalised an unprecedented agreement to acquire the historic NBA franchise for a staggering £9.3 billion ($12 billion).

The Los Angeles Lakers have been sold to Josh Kushner and former Disney CEO Bob Iger for a record-breaking amount. Current owner Mark Walter is offloading the premier basketball powerhouse barely 12 months after securing a controlling stake from the Buss family for a then-record $10 billion in June 2025.

The monumental buyout, reported by sports networks, completely shatters all previous global benchmarks for professional sports team valuations, dwarfing prior high-profile sales across the NFL and NBA.

For Kushner and Iger, the acquisition marks a dramatic pivot from earlier plans to establish an expansion franchise in Las Vegas, opting instead to take immediate stewardship of one of the most celebrated and culturally significant brands in global sports history.

Mark Walter Sells Lakers for Record £9.3B

Walter, who already controls the Los Angeles Dodgers, the Los Angeles Sparks, and the Professional Women's Hockey League, seemed firmly entrenched. Selling a prestige asset after a single year is extraordinarily rare in professional sports, though financial observers note that the rapid flip highlights shifting economic landscapes among elite franchise owners.

Kushner and Iger initially explored a completely different path. They had been investigating ownership of an expansion franchise in Las Vegas before pivoting to take control of the Lakers.

'As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,' they stated in a joint release.

'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.'

£9.3B Valuation Shatters Previous Sports Franchise Sales

The swift change in leadership disrupts the profound stability the franchise enjoyed for decades. Prior to being sold to Walter in June 2025, the Lakers had been owned by the Buss family since 1979, when Dr Jerry Buss purchased the team from Jack Kent Cooke. They secured 17 championships, 12 of which were won in Los Angeles, leaving them second only to the Boston Celtics, who hold 18 titles, for the most in NBA history.

The financials involved represent the largest sale of a professional sports franchise ever recorded. The $12 billion figure towers over previous benchmarks. The Seattle Seahawks previously held the record at $9.6 billion, followed by the Celtics at $6.1 billion, and the Washington Commanders at $6.05 billion. Further down, the Denver Broncos sold for $4.65 billion, and the Phoenix Suns and Mercury combined for $4 billion.

The sheer volume of money exchanging hands here is wild, firmly establishing a new financial ceiling for top-tier sports assets.

US Federal Probe Shadows Mark Walter Business

While the sporting implications are vast, attention is also turning to the seller's external business dealings. Walter serves as the chief executive of Guggenheim Partners, a massive investment and wealth management firm based in New York.

A July report from Bloomberg revealed that federal prosecutors in Manhattan began examining the $362 billion money management arm of Guggenheim last year. Regulators are reportedly investigating whether Walter and Guggenheim properly disclosed billions of dollars of loans.

As the NBA Board of Governors prepares to review the paperwork, the transition opens a brand-new chapter for a franchise boasting 17 championship titles and a massive worldwide following.

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