The Los Angeles Lakers are being sold again. Barely a year after Los Angeles Dodgers owner Mark Walter purchased the historic franchise for a then-record price of $10 billion, he is selling it to Josh Kushner and Bob Iger for $12 billion, according to ESPN.
Kushner and Iger, the former CEO of Disney, had been exploring ownership of an expansion franchise in Las Vegas, but have instead pivoted to take control of the Lakers.
"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," Kushner and Iger wrote in a 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."
| Largest sale of professional sports franchise | |
|---|---|
| Lakers | $12B |
| Seahawks | $9.6B |
| Celtics | $6.1B |
| Commanders | $6.05B |
| Broncos | $4.65B |
| Suns/Mercury | $4B |
Prior to being sold to Walter in June of 2025, the Lakers had been owned by the Buss family since 1979, when Dr. Jerry Buss purchased the team from Jack Kent Cooke. Buss turned the Lakers into one of the league's most popular and successful franchises. The Lakers' 17 championships (12 of which have been won in Los Angeles) are second only to the Boston Celtics (18) for the most in NBA history.
Walter, who owns MLB's Los Angeles Dodgers, the WNBA's Los Angeles Sparks and the entire PWHL, is also the CEO of Guggenheim Partners, an investment and wealth management firm based in New York City. In July, Bloomberg reported that last year, "federal prosecutors in Manhattan began examining Guggenheim's $362 billion money management arm." Regulators are reportedly investigating whether Walter and Guggenheim properly disclosed billions of dollars of loans.
CBS Sports will have more on this breaking news story.
