Josh Kushner, the younger brother of President Donald Trump's son-in-law and former senior advisor Jared Kushner, is partnering with former Walt Disney Company chief executive Bob Iger to purchase the NBA's Los Angeles Lakers for more than $12 billion, according to a report by ESPN.

The proposed transaction would represent a record-breaking sale price for a professional sports franchise, coming amid a broader surge in team valuations across major American sports leagues. The NBA recently secured new national media rights agreements valued at approximately $76 billion over eleven years, a deal expected to underpin rising franchise values league-wide. Multiple sources who spoke to ESPN described the offer as aggressive.

Kushner and Iger are seeking to acquire the team from Mark Walter, who purchased a controlling interest in the Lakers from the Buss family last year for approximately $10 billion. That earlier transaction had itself set a benchmark for franchise valuations in American professional sports. A sale at the reported $12 billion figure would mark a roughly 20% increase over Walter's purchase price within approximately one year.

In a statement reported by ESPN, Kushner and Iger said: "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," the statement continued. "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."

Walter, who serves as CEO and chairman of diversified holding company TWG Global, became the Lakers' majority owner in October of last year following a unanimous vote of approval by the NBA's Board of Governors. The long-reigning Buss family had controlled the franchise for decades, with the late Dr. Jerry Buss having purchased the team in 1979 and guiding it to numerous championships. His daughter, Jeanie Buss, has served as the team's controlling owner and governor.

Through his extensive business interests, Walter maintains ownership stakes in several professional sports organizations across multiple leagues and continents. His portfolio includes the Los Angeles Dodgers of Major League Baseball, the Los Angeles Sparks of the WNBA, Premier League club Chelsea FC, and the Professional Women's Hockey League. Additionally, through TWG Motorsports, Walter owns multiple auto racing teams, including the Cadillac Formula 1 operation.

Josh Kushner is the founder and managing partner of Thrive Capital, a venture capital firm with significant investments in technology companies. Thrive Capital has been a prominent backer of firms including Instagram, Stripe, and OpenAI. Bob Iger led The Walt Disney Company as CEO across two stints, overseeing major acquisitions including Pixar, Marvel Entertainment, Lucasfilm, and 21st Century Fox before returning to the role in late 2022. Any ownership change for the Lakers would require formal approval from the NBA's Board of Governors, the same body that unanimously approved Walter's acquisition last year.