Bob Iger and venture capitalist Josh Kushner have acquired the Los Angeles Lakers for $12.5 billion, marking the highest price ever paid for a U.S. sports franchise, according to fortune.com. The deal was announced on August 12, 2026, just 14 months after Mark Walter purchased a controlling stake in the team for $10 billion.
The Lakers were sold by Mark Walter, who had acquired the team from the Buss family. The sale represents a 21% return on Walter's investment. Iger, the former Disney CEO, and Kushner, founder of Thrive Capital, issued a joint statement expressing their honor at becoming stewards of the iconic franchise. Iger stepped down as Disney's chief executive in March and took an advisory role at Thrive Capital, where Kushner is a partner.
The Lakers franchise, originally purchased by Jerry Buss in 1979, revolutionized professional basketball by blending sports with Hollywood-style entertainment, a concept known as Showtime. This approach transformed the NBA and influenced sports leagues worldwide. Iger's acquisition aligns with his career focus on storytelling and entertainment, as he previously built Disney around beloved stories. The $12.5 billion valuation surpasses previous records for U.S. sports franchises.
The Lakers' purchase price of $12.5 billion sets a new benchmark in sports franchise valuations. The team has a storied history and remains one of the most valuable sports properties globally, reflecting both its cultural impact and financial strength.