LA Lakers to be sold in record $12.5bn deal
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- Los Angeles Lakers are being sold for a reported $12.5bn, a record for a basketball franchise, just months after Mark Walter’s prior $10bn acquisition.
- Josh Kushner and Bob Iger are acquiring controlling interest in the Lakers, citing lifelong fandom and a commitment to sustaining the team’s legacy.
- Mark Walter sold his majority stake, calling it an extraordinary investment and praising the Buss family, players, and fans in a farewell statement.
- Jerry Buss originally bought the Lakers in 1979 for $67.5m, a deal that included the Kings and the Kia Forum, laying the foundation for decades of ownership by his family.
- Thrive Eternal, Kushner’s venture capital firm, was previously tied to a controversial Fifa initiative to sell stakes in global competitions to private investors.
Why it matters: The $12.5bn price tag reflects a staggering $2.5bn increase in valuation within a year, signaling intense demand among elite investors for iconic sports franchises despite no on-court performance shift. This rapid turnover at the top alters the ownership trajectory of one of the NBA’s most storied teams.
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