- American businessman Josh Kushner and former Disney executive Bob Iger are purchasing a controlling interest in the Los Angeles Lakers for a record-breaking $12.5 billion, according to ESPN.
- The duo acquired the majority stake from TWG Global CEO Mark Walter, who purchased controlling interest from the Buss family for $10 billion in October 2025.
- In a joint statement, Kushner and Iger expressed immense honor at becoming stewards of the iconic franchise and pledged a long-term commitment to compete at the highest level and serve the city of Los Angeles.
- Prior to securing the Lakers purchase, Kushner—the younger brother of President Donald Trump's son-in-law Jared Kushner—and Iger were involved in an expansion effort to bring an NBA team to Las Vegas.
- The historic transaction marks an unprecedented valuation for the 17-time NBA champion franchise, which was originally bought by the late Jerry Buss in 1979 for $67.5 million.
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