By 5 Towns Central Staff

LOS ANGELES, Calif. (Aug. 12, 2026) — A landmark ownership transition is underway for one of professional basketball’s premier franchises, as venture capitalist Josh Kushner and former media executive Bob Iger have finalized an agreement to purchase controlling interest in the Los Angeles Lakers. The deal evaluates the historic basketball organization at a groundbreaking figure exceeding $12.5 billion, marking the highest valuation ever recorded for a professional sports franchise.

The purchasing pair initially concentrated their efforts on securing an expansion franchise targeted for Las Vegas. However, those plans shifted dramatically as an opportunity arose to acquire full controlling authority over the Los Angeles organization. The transaction transfers majority leadership from previous owner Mark Walter, who had acquired controlling stakes less than a year prior during a separate historic valuation event.

The prospective owners expressed deep reverence for the longstanding tradition and legacy built under the direction of the Buss family over several decades. They reiterated a firm commitment to maintaining the competitive standards of the team, fostering continuous success, and dedicating service to the fan base and the broader community of Southern California.

Former majority owner Mark Walter reflected positively on his brief stewardship, noting the distinct privilege of overseeing such a deeply cherished civic institution and expressing complete confidence in the future direction of the club under incoming leadership. The transition arrives during a pivotal operational period for the roster following recent offseason shifts, leaving incoming leadership tasked with steering the organization into its next competitive era.

Finalization of the sale remains subject to formal evaluation and official approval by the league’s governing body, with official proceedings anticipated during upcoming executive meetings scheduled for early autumn. Once approved, the record-setting transaction will establish a momentous benchmark for valuation standards across major global sports leagues.