Los Angeles Lakers being sold for blockbuster $12.5B deal to businessmen Kushner, Iger: reports

The Los Angeles Lakers are changing hands in a deal that sources say could surpass any prior sports franchise sale, with Josh Kushner and Bob Iger identified as the buyers. People familiar with the negotiations told The Associated Press on condition of anonymity that the proposed price is about $12.5 billion, a figure described as a record for an NBA franchise and for a U.S. sports team sale in recent memory. The agreement, reached this week, marks the second blockbuster sale in the NBA within a year.

The forthcoming sale will still require approval from the NBA’s board of governors, a process that typically unfolds over several weeks and may involve reviews of the prospective owners’ finances and operational plans for the franchise. Officials with the Lakers and the NBA have not publicly confirmed the terms of the deal or commented on a timeline for a formal vote.

If confirmed, the transaction would top the previous high-water mark for a sports team sale and underscores the ongoing high demand for ownership stakes in major U.S. franchises. The Lakers, one of the league’s most storied franchises with a long history of championships and a large global following, are currently owned by Jeanie Buss and notable members of the Buss family under the NBA club’s ownership structure.

Reaction from fans and analysts has been mixed, with some noting the potential for continued stability in team management and others questioning the market dynamics that drive such lofty valuations. The sale process will also hinge on regulatory and league considerations, including ensuring that the new owners align with NBA standards and community commitments.

Further details about the transaction, including confirmation from the parties and an official sale closing date, have not been disclosed publicly. Officials are expected to provide updates as the deal progresses through the NBA’s approval channels.