Kushner, Iger Buy Lakers for Record $12B+
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- Josh Kushner and Bob Iger are purchasing the Los Angeles Lakers for over $12 billion in a record-breaking franchise sale reported by multiple sources to ESPN.
- Kushner and Iger had been involved in the NBA's Las Vegas expansion process before pivoting to make an aggressive offer for the Lakers.
- Mark Walter, CEO and chairman of TWG Global, is selling the team roughly a year after acquiring a controlling interest from the Buss family.
- Walter's takeover was unanimously approved by the NBA Board of Governors last October, making him the Lakers' majority owner.
- TWG Global holds interests in the Los Angeles Dodgers, Los Angeles Sparks, Premier League club Chelsea, and the Professional Women's Hockey League.
- TWG Motorsports, another Walter entity, owns several auto racing teams including Cadillac Formula 1.
Why it matters: A $12 billion-plus price resets the ceiling for sports franchise valuations, and the fact that Kushner and Iger were previously tied to the Las Vegas expansion bid means the NBA loses a serious expansion bidder to an acquisition instead — while Walter exits after barely a year of Lakers ownership.
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