The Los Angeles Lakers are being sold to American businessmen Josh Kushner and Bob Iger for a staggering $12 billion, marking a record-breaking valuation for the NBA franchise. According to ESPN, the deal transfers ownership away from Mark Walter, who acquired a controlling stake from the Buss family just last year.
Fantasy & Market Impact
The Anatomy of a Record-Breaking Sale
The transaction represents a meteoric rise in sports franchise valuations. Mark Walter, CEO and chairman of TWG Global, initially secured his majority ownership position last October when his bid was unanimously approved by the NBA, establishing a then-record valuation of approximately $10 billion. Just months later, Walter has pivoted to cash out at $12 billion following earlier involvement by Kushner and Iger in the Las Vegas NBA expansion process.
Kushner, the 41-year-old founder of venture capital firm Thrive Capital and co-founder and vice chairman of Oscar Health, joins forces with 75-year-old Bob Iger. Iger recently concluded his second tenure as CEO of Disney and previously became the controlling owner of NWSL club Angel City FC alongside Willow Bay in 2024. Together, the incoming ownership group assumes stewardship of one of the most storied brands in global sports.
| Metric | Mark Walter / TWG Global | Josh Kushner & Bob Iger |
|---|---|---|
| Acquisition Timeline | Majority stake acquired October (~$10B valuation) | Agreed purchase ($12B valuation) |
| Key Portfolio Assets | Los Angeles Dodgers, Chelsea FC, PWHL, Cadillac F1 | Thrive Capital, Oscar Health, Angel City FC |
| Approval Status | Unanimously approved by NBA | Pending league review and ownership committee approval |
Stewardship and Legacy in Los Angeles
In a joint statement reported by TSN, the incoming buyers addressed their new roles: “As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss.”
They added, “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.”
Meanwhile, Mark Walter reflected on his brief yet impactful tenure leading the organization. “Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter stated. “I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
Regulatory Scrutiny and Broader Portfolios
Walter’s exit from the Lakers comes amid ongoing federal scrutiny involving separate business ventures. As detailed in reports from Bloomberg, U.S. prosecutors in Manhattan and the Securities and Exchange Commission have been examining whether Delaware Life Insurance Co. and Clear Spring Life and Annuity Co.—insurers controlled by Walter—failed to disclose private credit holdings backing other ventures.
Despite divesting his controlling stake in the Lakers, Walter maintains vast holdings across the sports landscape. Through TWG Global and TWG Motorsports, his portfolio retains interests in Major League Baseball’s Los Angeles Dodgers, the WNBA’s Los Angeles Sparks, Premier League club Chelsea, the Professional Women’s Hockey League, and Cadillac’s Formula 1 initiative.
With Kushner and Iger stepping in, the Lakers enter a fresh era of high-stakes corporate governance.
Disclaimer: The fantasy and market insights provided are for informational and entertainment purposes only and do not constitute financial or betting advice.
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