Bob Iger and Joshua Kushner filed paperwork to acquire the Los Angeles Lakers at a $12.5 billion valuation, shattering the $6.05 billion Mat Ishbia paid for the Phoenix Suns in 2023 and setting the new North American sports franchise sales record. The deal gives Iger and Kushner majority control; the Buss family's remaining stake, if any, has not been disclosed.
The transaction closes eight months of quiet negotiations and marks Iger's first franchise ownership after a 47-year career in media. Kushner, who runs Thrive Capital and holds stakes in Instagram, Spotify, and Stripe, becomes the youngest principal owner of an NBA team at 39. The Lakers last changed hands in 1979, when Jerry Buss paid $67.5 million for the team, The Forum, and the NHL Kings. His children inherited the club after his death in 2013; Jeanie Buss has served as controlling owner and governor since.
The valuation resets the West Coast franchise market. The Warriors were privately appraised at $7.5 billion in a minority stake discussion last fall; the Clippers were valued at $4.65 billion when Steve Ballmer bought them in 2014. The Lakers generate roughly $550 million in annual revenue, per Forbes estimates, with a $190 million local media deal expiring in 2027 and jersey patch rights held by Bibigo through 2028 at $20 million per season. The Crypto.com naming rights agreement runs through 2042 at $700 million total. Iger and Kushner are acquiring a team with structural revenue locked in and two expiring deals they can renegotiate into the league's next media cycle.
The deal also imports Silicon Valley and Burbank executive layers into Laker decision-making. Iger spent two decades centralizing Marvel, Pixar, and Star Wars into Disney's studio system; Kushner's Thrive portfolio companies include Robinhood, Twitch, and Oscar Health. The Lakers have not appeared in the playoffs since 2023 and rank 11th in the Western Conference. General manager Rob Pelinka's contract runs through 2026; head coach JJ Redick is in year one of a four-year deal. The front office now reports to owners who have run multi-billion-dollar organizations with public earnings calls and board oversight, not family governance.
The purchase also clarifies the succession question that has shadowed the franchise since Jerry Buss died. The Buss family has owned the Lakers for 45 years without selling; Jeanie Buss resisted pressure from her brothers to explore a sale in 2017 and again in 2021. The $12.5 billion price suggests either unanimous family agreement or a buyout structure that compensated holdouts. The league's board of governors must approve the sale; that vote is expected before the end of the 2026 calendar year.
Watch for Pelinka's status when the Lakers' season ends. Iger replaced studio leadership within 90 days of returning as Disney CEO in 2022; Kushner replaced Compass's CFO within 120 days of Thrive taking a board seat in 2021. The Lakers' next head of basketball operations will inherit a roster with $180 million in committed salary, a 2027 first-round pick owed to New Orleans, and a 38-year-old LeBron James on an expiring contract. The franchise also has the fourth-highest local television ratings in the NBA and the second-highest jersey sales globally, which means the new owners inherit both a rebuild and a revenue machine that prints cash regardless of standings.
The deal closes in Q4 2026. Crypto.com's naming rights payment of $17.5 million per year begins flowing to Iger and Kushner the day the ink dries.