Former Disney CEO and businessman buy Los Angeles Lakers for $12.5 billion

American businessman Josh Kushner and former Disney executive Bob Iger are buying the Los Angeles Lakers for a record amount of US$12.5 billion, according to information from Bloomberg and Reuters released this Wednesday (12). According to the broadcaster, the pair acquired control of the franchise from Mark Walter, who had purchased a majority stake in the team from the Buss family for $10 billion in October 2025. The NBA Board of Governors unanimously approved the sale of the majority stake to Walter on October 30. "As lifelong NBA fans, we are deeply honored by the opportunity to assume responsibility for the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have enormous 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 this foundation, compete at the highest level and serve this extraordinary team, its fans and the city of Los Angeles." Walter is CEO and president of TWG Global, a diversified holding company. The group also has a stake in Chelsea, a Premier League club, and the Professional Women's Hockey League (PWHL), a professional women's hockey league. "Owning the Los Angeles Lakers has been one of the greatest honors of my life — an extraordinary investment, but what I will take with me is the community, the fans and a city that treats this team like family," Walter said in a statement to ESPN. "I'm grateful to Jeanie Buss, the Buss family, the players and staff for welcoming me into this chapter. The Lakers belong in Los Angeles, and I have every confidence that the best is yet to come." According to reports, Kushner and Iger participated in a process to facilitate the creation of an NBA franchise in Las Vegas, but changed their strategy and began seeking to purchase the Lakers Kushner is the younger brother of Jared Kushner, son-in-law of the President of the United States, Donald Trump. Jerry Buss, who died in 2013, originally bought the Lakers for $67.5 million in a deal that also included The Forum in Inglewood, Calif., and the NHL's Los Angeles Kings. Founded in 1947, the Lakers reached the NBA Finals 32 times and won 17 titles, second only to the Boston Celtics, who have 18 championships.