BREAKING: Los Angeles Lakers Sold to Josh Kushner and Bob Iger for Whopping $12 Billion: Report

Photo by Charles Sykes/Invision/AP

The Los Angeles Lakers are being sold for a record-breaking $12 billion, according to ESPN.

Josh Kushner, brother of President Donald Trump’s son-in-law Jared Kushner, and former Disney head honcho Bob Iger, are buying the legendary NBA franchise, journalist Ramona Shelburne reported.

“The Los Angeles Lakers are being sold to American businessman Josh Kushner and Bob Iger for a record breaking price over $12 billion, multiple sources told ESPN,” she wrote on X.

“Kushner and Iger were involved in the expansion process in Las Vegas, but a stunning turn, they pivoted to make an aggressive offer to buy the Lakers from Mark Walter, who had purchased a controlling interest in the team from the Buss family last year.”

“Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” current owner Mark Walter told ESPN in a statement.

“I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”

Walter bought a controlling interest in the team just 14 months ago, plunking down $10 billion to the Buss family for a controlling interest in the franchise in what was then a record-breaking sum.

Kushner and Iger issued a statement:

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. 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.”

The transaction would still need approval from the NBA’s board of governors.

This is a breaking story and has been updated.

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