The Los Angeles Lakers basketball club is to be sold for a record-breaking $12.5 billion (£9.3 billion), according to reports. This would be the most expensive deal in NBA history. The sale comes less than a year after Mark Walter acquired a majority stake in the club, reports infohub.kz.
Josh Kushner, the brother of US President Donald Trump's son-in-law Jared, and former Disney CEO Bob Iger are buying the controlling interest in one of the world's most iconic sports teams. Walter bought his share from the Buss family in a deal unanimously approved by the NBA Board of Governors in October 2025, reportedly worth around $10 billion (£7.45 billion).
In a joint statement, Kushner and Iger said: "As lifelong NBA fans, we are deeply honoured 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."
Jerry Buss bought the Lakers in 1979 for $67.5 million (£50 million), a deal that also included the Los Angeles Kings hockey team and the arena known as the Kia Forum. After his death in 2013, ownership passed to his six children in a trust, before a deal was completed with Walter, who also owns a stake in the LA Dodgers with Todd Boehly.
Walter said: "Owning the Los Angeles Lakers has been one of the great honors of my life. It has been an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. 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."
The Los Angeles Lakers have won 17 NBA titles, one less than the record 18 held by the Boston Celtics. The deal involving Kushner comes after he was part of the recent controversy surrounding FIFA president Gianni Infantino and an aborted plan to sell off stakes in the governing body's competitions to private investors. Thrive Eternal, a venture capital firm founded by Kushner, was expected to lead the proposed investor group for the FIFA Forward Enterprise (FFE) proposal.