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The Los Angeles Lakers are to be sold for a reported record-breaking $12.5bn, external (£9.3bn) – less than a year after Mark Walter took a majority stake in the NBA franchise.
Josh Kushner, the brother of US President Donald Trump's son-in-law Jared, and former Disney chief executive Bob Iger are buying the controlling interest in one of the world's most iconic sports teams.
Walter bought his share, reportedly worth an estimated $10bn (£7.45bn) – a previous record – from the Buss family in a deal that was unanimously approved by the NBA Board of Governors in October 2025.
Josh Kushner and Bob Iger are purchasing the Los Angeles Lakers for more than $12.5bn in a record-breaking deal, ESPN reported on Wednesday, citing sources with knowledge of the deal.
Billionaire Mark Walter purchased a majority stake of the NBA team last year from the Buss family in a deal that valued the club at $10bn, with the deal only having been approved by the board of governors in October.
“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,” Kushner and Iger said in a statement. “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.”
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Less than a year after buying a controlling ownership stake in the NBA's Lakers, Mark Walter has sold his majority equity to Joshua Kushner and Bob Iger, according to a statement.
The deal values the team at $12.5 billion, according to a person familiar with the matter, who asked not to be named because they were not authorized to speak publicly about the terms of the sale.
"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 said in a joint statement Wednesday. "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."
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