Lakers Change Hands Again: Kushner and Iger Acquire Iconic Franchise in $12.5 Billion Deal
LOS ANGELES, CA – October 16, 2026 – In a seismic shift within the professional sports landscape, the Los Angeles Lakers have once again changed ownership, with a controlling stake in the NBA’s storied franchise acquired by a powerful duo: Thrive Capital founder Joshua Kushner and former Disney CEO Bob Iger. The landmark deal, announced Wednesday, values the Lakers at an astounding $12.5 billion, marking a significant escalation from its previous sale less than a year ago.
This rapid ownership transition sees Mark Walter, who acquired the Lakers in October of last year at a $10 billion valuation, divest his majority equity to Kushner and Iger. The move comes amid recent scrutiny surrounding Walter’s business empire, including federal investigations into potential financial improprieties at his insurance companies and Guggenheim Partners, the sprawling financial firm he co-founded.
“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,” Iger and Kushner declared in a joint statement. “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.”
The acquisition solidifies a burgeoning partnership between Kushner and Iger. Iger, 75, joined Thrive Capital, Kushner’s venture capital firm, earlier this year following his departure from Disney, where he served two extensive stints as CEO totaling roughly two decades. Their prior collaborative efforts included expressing interest in securing an NBA expansion team in Las Vegas, a pursuit that now culminates in the ownership of an existing marquee franchise.
The swift resale by Mark Walter, a prominent figure in sports ownership with stakes in MLB’s Los Angeles Dodgers, English Premier League team Chelsea, and the WNBA’s Los Angeles Sparks through his TWG Global holding company, has drawn considerable attention. While the official statement from Kushner and Iger does not directly address Walter’s reasons for selling, recent reports from Bloomberg indicated ongoing investigations by the Securities and Exchange Commission and U.S. prosecutors into two of Walter’s insurance companies and Guggenheim Partners. Furthermore, the Wall Street Journal reported last month that Walter, 66, suffered a stroke in 2024, raising concerns about his health and its potential impact on his extensive business interests. This transaction exclusively involves Walter’s stake in the Lakers, leaving his other sports holdings untouched.
The entry of Kushner, brother to Jared Kushner and brother-in-law to Ivanka Trump, alongside Iger, a titan of the entertainment industry, injects a new dynamic into the Lakers’ leadership. Iger brings a wealth of experience in brand management and strategic growth from his tenure at Disney, a skill set that could prove invaluable in navigating the complex world of professional sports ownership. His prior foray into sports ownership includes the 2024 acquisition of professional women’s soccer team Angel City Football Club with his wife, Willow Bay, for $250 million, demonstrating his existing commitment to the sports industry.
This latest transaction underscores the escalating valuations within the NBA, with the Lakers’ price tag reaching unprecedented heights. The $12.5 billion valuation reflects not only the team’s historical success and global brand recognition but also the ever-increasing investment appetite for premier sports assets. As Kushner and Iger step into their new roles, the basketball world will be keenly watching how this powerful new ownership group charts the course for one of the NBA’s most celebrated franchises.
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