Bob Iger and Josh Kushner agree to buy Lakers at reported $12.5 billion valuation

Bob Iger Josh Kushner Lakers searches are rising after the two executives reached an agreement to acquire Mark Walter’s majority equity in the Los Angeles Lakers. The reported $12.5 billion team valuation would put a new benchmark on one of sports’ most closely watched assets, though the transaction has not yet closed.

CNBC reported Wednesday that Walter had agreed to sell his majority Lakers equity to Kushner and Iger, citing a statement. A person familiar with the deal, who was not authorized to discuss its terms publicly, told CNBC the transaction values the franchise at $12.5 billion.

The specific terms were not made public. The $12.5 billion figure has been reported as the Lakers’ valuation, rather than as a detailed public accounting of the transaction.

Has the NBA approved Bob Iger and Josh Kushner’s Lakers deal?

Not yet, according to an Associated Press report published by the Las Vegas Sun. The agreement still requires approval from the NBA Board of Governors, the league’s team-owner governing group. The AP reported that process could take several weeks, with the board’s next meeting scheduled for the following month in New York.

That distinction matters: the buyers have an announced agreement, while league approval remains a condition before ownership can transfer.

This would be the Lakers’ second majority-ownership transaction in roughly a year. Walter finalized his acquisition of a majority stake on Oct. 30, 2025, after unanimous Board of Governors approval, according to the Lakers’ announcement on NBA.com.

That earlier transaction was reported at an approximately $10 billion franchise valuation, according to ESPN. The newly reported $12.5 billion valuation is $2.5 billion higher, a 25% increase from that benchmark. Both figures are reported valuations, not a public breakdown of the underlying deal terms.

What have Iger and Kushner said about the Lakers?

In a joint statement reported by CNBC, Iger and Kushner said they were honored by the chance to become stewards of the franchise. They said they intended to make a long-term commitment, build on the foundation established by Jerry and Jeanie Buss, compete at a high level and serve the team’s fans and Los Angeles.

Kushner founded venture-capital firm Thrive Capital. CNBC reported that Iger joined Thrive earlier in 2026, giving the pair an existing business connection before the Lakers agreement.

For investors watching the business of sports, the near-term fact to follow is the NBA approval process. The reported valuation signals what buyers have agreed the Lakers are worth in this deal, while the final transfer remains pending league consent.

This story draws on original reporting from CNBC.