Lakers Sale Terms Finalized at $12.5 Billion USD
Mark Walter, Josh Kushner, and Bob Iger are the buying group behind the largest franchise sale in sports history.
Summary
Mark Walter and Josh Kushner agree to outstanding terms for Lakers sale
Historic transaction sets the sports franchise record with a $12.5 billion valuation
Deal effectively ends the Buss family's governance following an ownership dispute
Current governor Mark Walter and Thrive Capital founder Josh Kushner agreed on all outstanding terms for the sale of the Los Angeles Lakers. Reported by ESPN’s Ramona Shelburne, the finalized agreement values the iconic franchise at $12.5 billion USD, establishing the deal as the largest franchise sale in sports history. While the financial framework between the involved parties is locked in, the agreement remains subject to NBA review once signed.
This historic financial maneuver unfolded on a remarkably fast timeline. The finalization of the terms occurred less than a year after Walter initially agreed to purchase the Los Angeles Lakers from the Buss family for $10 billion. Escalation of the franchise’s value accelerated on August 12, when Kushner and former Disney CEO Bob Iger reached a deal with Walter to join the purchasing group.
Behind closed doors, the transition involved severe internal friction and the severing of legacy ties. Walter’s initial purchase contract included a specific clause keeping Jeanie Buss as team governor for at least five years. However, ESPN’s Shams Charania reported that dynamics shifted when Iger and Kushner moved to purchase the remaining 17.8 percent stake directly from the family. By acquiring that crucial 17.8 percent stake, the new buyers caused Jeanie Buss to fall below the ownership percentage required to retain her role as governor. Challenging the legality of her siblings’ vote to sell those remaining shares, she initiated an ownership dispute within the family.
The record-setting $12.5 billion USD transaction concludes the Buss family governance of the Lakers following that legal battle. On the hardwood, the team maintains a long tradition of success. Playoff appearances in six of the past seven years include a championship title in 2020. That winning record continues in the current season. Featuring stars Luka Dončić and Austin Reaves, the squad holds a 4-1 record through five games.
