Josh Kushner and Bob Iger offer $12.5 billion for Lakers
The proposal follows Mark Walter acquiring a controlling stake from the Buss family at an approximate $10 billion valuation.
Josh Kushner and Bob Iger have placed an offer of $12.5 billion to purchase the Los Angeles Lakers, establishing a new valuation high for a National Basketball Association franchise.1 The offer surfaces less than twelve months after Mark Walter, the chief executive and chairman of TWG Global, acquired a controlling interest in the team from the Buss family at an estimated valuation of $10 billion.1
The valuation jump
The proposed $12.5 billion figure represents an increase of roughly 25 percent over the benchmark set by the Buss family transaction. That earlier transaction shifted majority control of one of basketball's most prominent brands to Walter, setting what was then the highest price recorded for a professional basketball team. ESPN first reported that sources identified Kushner and Iger as the prospective buyers behind the new $12.5 billion bid.1
The rapid escalation in the Lakers' valuation highlights the compounding premium placed on tier-one sports assets. Franchise values across North American professional leagues have climbed steadily, driven by rising broadcast contracts, global merchandising, and the entrance of private equity and institutional capital into team balance sheets. A $2.5 billion expansion in enterprise value within a single year reflects strong demand among elite investors for storied sports intellectual property.
The prospective ownership group
The consortium unites prominent figures from venture capital and corporate entertainment. Josh Kushner founded Thrive Capital, building an investment track record in software, artificial intelligence, and financial technology startups. Bob Iger has spent decades leading the Walt Disney Company, overseeing major media mergers and navigating changes across global distribution networks, theme parks, and linear television assets.
Their combined bid brings institutional venture capital experience together with traditional entertainment distribution leadership. The Los Angeles market has long served as a central hub for entertainment programming, regional sports broadcasting, and commercial sponsorships. Operating an NBA franchise in Southern California requires navigating media distribution agreements, regional arena operations, and international licensing programs.
Shifting control from the Buss family
The transaction timeline follows a major structural realignment in the Lakers' governance structure. For decades, the Buss family held controlling authority over the organization, guiding the franchise through multiple championship eras and overseeing long-term local television contracts. That multi-decade stewardship transitioned when Walter and TWG Global acquired a controlling stake under the previous $10 billion valuation agreement.
Walter's purchase established a private capital foundation for the Lakers, aligning the basketball franchise with his broader sports investment portfolio, which includes ownership stakes in the Los Angeles Dodgers and European football assets. The subsequent offer from Kushner and Iger indicates that outside capital continues to test the ceiling of franchise pricing, even after historic ownership transitions.
Media rights and league economics
Valuations across the NBA have benefited from league-wide media rights negotiations and growing international viewership metrics. Premium franchises in primary media markets command substantial multiples due to steady arena revenues, luxury suite sales, and brand licensing agreements. The Lakers routinely rank among the league's top revenue generators, bolstered by extensive regional following and global merchandise sales.
As live sports programming remains one of the few content categories capable of delivering aggregate linear and streaming audiences, media executives and technology investors have sought direct equity in flagship teams. Ownership of high-profile franchises provides strategic leverage in negotiations surrounding regional sports networks, direct-to-consumer streaming packages, and commercial stadium developments.
Approval processes and next steps
Any formal transfer or addition of controlling equity in an NBA franchise requires extensive vetting and formal approval from the NBA Board of Governors. League ownership committees evaluate the financing structure of bidding groups, debt covenants, and long-term liquidity reserves before submitting prospective buyers for a full vote among team owners.
If accepted and ratified by the league, the $12.5 billion purchase would reset pricing expectations across all major North American sports leagues. The transaction would establish a new financial baseline for future franchise sales in the NBA, Major League Baseball, and the National Football League, where team sales have increasingly exceeded previous multi-billion-dollar records.
Reporting note: this piece draws on reporting from ESPN and a newsletter report by Brandon Gorrell published August 12, 2026.
Source: Brandon Gorrell via Substack, August 12, 2026.
References
This article is based on 1 source, listed in the order they are cited.
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Brandon Gorrell announcement · 12 Aug 2026 Kushner and Iger Make a Play For the Lakers See the source