The Los Angeles Lakers are reportedly being sold to Josh Kushner, a venture capital investor, and Bob Iger, former Chief Executive Officer of The Walt Disney Company, in a transaction valued at approximately $12.5 billion — the largest sum ever paid for a U.S. sports franchise, according to The Athletic.

The deal would replace current owner Mark Walter, who acquired the iconic NBA franchise only last year at a $10 billion valuation. Walter's swift exit reportedly stems from a federal probe into his firm TWG Global, as well as health concerns following a stroke he suffered in 2024. The $2.5 billion jump in reported valuation over a single year underscores how rapidly NBA franchise prices have escalated, fueled in part by the league's new 11-year, $76 billion media rights agreements set to begin in the 2025-26 season.

The Lakers are one of the most storied franchises in professional basketball, with 17 NBA championships tied for the most in league history. The team has been associated with some of the game's greatest players, including Kareem Abdul-Jabbar, Magic Johnson, Kobe Bryant, and LeBron James. Anchored in Los Angeles — the second-largest media market in the United States — the franchise has built a global brand that extends well beyond game revenue, making it a singular asset in professional sports.

Josh Kushner is the brother of Jared Kushner, who is President Donald Trump's son-in-law and is married to Ivanka Trump. Josh Kushner founded the venture capital firm Thrive Capital and is married to model and entrepreneur Karlie Kloss. His involvement in the purchase sparked immediate backlash from Lakers fans, many of whom criticized the Trump family's expanding business interests on social media.

Twitch streamer Scoob reacted to the news on X, calling the deal an example of "strip mining" the country:

https://x.com/MostCrucified/status/2087542734353486066

NBA commentator Bomani Jones also responded on X, writing: "This is…weird."

https://x.com/bomani_jones/status/2087545355474801034

Bob Iger served as CEO of The Walt Disney Company across two stints, from 2005 to 2020 and again from 2022 to 2024. During his tenure, he oversaw major acquisitions including Pixar, Marvel Entertainment, Lucasfilm, and 21st Century Fox, transforming Disney into one of the world's largest media conglomerates. His involvement brings decades of media-industry deal-making experience to a franchise whose value is increasingly tied to broadcasting and content rights.

The reported $12.5 billion valuation would shatter previous records for U.S. sports franchise sales. For context, the Washington Commanders NFL team was sold in 2023 for approximately $6 billion, and the Phoenix Suns were sold in 2023 for $4 billion — figures that would be dwarfed by the Lakers transaction. The sale also reflects a broader wave of private capital and institutional money flowing into professional sports, accelerated after the NBA in 2021 began permitting private equity funds to hold minority stakes in its franchises.

The transaction remains subject to approval by the NBA Board of Governors, which must vote to ratify any change in franchise ownership. Under league rules, at least three-quarters of the 30 team governors must approve the sale.