Rome, 12 Aug. (LaPresse) – The Los Angeles Lakers are to be sold to businessmen Josh Kushner and Bob Iger for a record sum, the second such deal in just one year. The sale agreement is worth $12.5 billion, according to the Associated Press. ESPN was the first to report that Kushner and Iger are buying the NBA’s most valuable franchise, which was valued at $10 billion last year when Mark Walter acquired a controlling stake from the Buss family. The two businessmen had previously been involved in the bid to secure an expansion franchise in Las Vegas. By buying the Lakers, Iger and Kushner no longer need to wait for that decision. The expansion, if it goes ahead, could take place in the 2028–29 season. The sale will, however, have to be approved by the NBA Board of Governors, and the process could take several weeks. The board’s next meeting is scheduled for next month in New York. The $12.5 billion figure not only sets a record for US professional sport but also confirms the staggering growth in the value of NBA franchises. Just three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets based on a valuation of $3 billion, whilst the Boston Celtics were sold last year at a valuation of just over $6 billion – a figure that set a record at the time. Walter’s acquisition of a controlling stake in the Lakers in June 2025 had shattered that previous record, and now Iger and Kushner have raised the bar even higher. Walter’s purchase had been approved by the NBA franchise owners last October. He had previously acquired a 27 per cent minority stake in the Lakers in 2021, ahead of the 2025 sale. The deal was based on a valuation of the franchise at 10 billion dollars, the highest ever achieved by a professional sports team. The Lakers have won 17 titles, dating back to the franchise’s time in Minneapolis, the second-highest total in NBA history after the Boston Celtics’ 18. The club is a global brand and consistently tops the league’s merchandising sales charts. The record-breaking sale comes just a few weeks after LeBron James, the NBA’s all-time leading scorer, left the Lakers after eight seasons to become a free agent. James subsequently decided to sign for the Philadelphia 76ers.
NBA: Los Angeles Lakers sold for $12.5 billion
Rome, 12 Aug. (LaPresse) – The Los Angeles Lakers are to be sold to businessmen Josh Kushner and Bob Iger for a record sum, the second such deal in just one year. The sale agreement is worth $12.5 billion, according to the Associated Press. ESPN was the first to report that Kushner and Iger are buying the NBA’s most valuable franchise, which was valued at $10 billion last year when Mark Walter acquired a controlling stake from the Buss family. The two businessmen had previously been involved in the bid to secure an expansion franchise in Las Vegas. By buying the Lakers, Iger and Kushner no longer need to wait for that decision. The expansion, if it goes ahead, could take place in the 2028–29 season. The sale will, however, have to be approved by the NBA Board of Governors, and the process could take several weeks. The board’s next meeting is scheduled for next month in New York. The $12.5 billion figure not only sets a record for US professional sport but also confirms the staggering growth in the value of NBA franchises. Just three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets based on a valuation of $3 billion, whilst the Boston Celtics were sold last year at a valuation of just over $6 billion – a figure that set a record at the time. Walter’s acquisition of a controlling stake in the Lakers in June 2025 had shattered that previous record, and now Iger and Kushner have raised the bar even higher. Walter’s purchase had been approved by the NBA franchise owners last October. He had previously acquired a 27 per cent minority stake in the Lakers in 2021, ahead of the 2025 sale. The deal was based on a valuation of the franchise at 10 billion dollars, the highest ever achieved by a professional sports team. The Lakers have won 17 titles, dating back to the franchise’s time in Minneapolis, the second-highest total in NBA history after the Boston Celtics’ 18. The club is a global brand and consistently tops the league’s merchandising sales charts. The record-breaking sale comes just a few weeks after LeBron James, the NBA’s all-time leading scorer, left the Lakers after eight seasons to become a free agent. James subsequently decided to sign for the Philadelphia 76ers.