Josh Kushner, managing partner of the venture capital firm Thrive Capital, and former Disney CEO Bob Iger have agreed tp purchase a controlling interest in the Los Angeles Lakers for a record-breaking price of $12.5 billion. 

“As lifelong NBA fans, we are deeply honored 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,” Kushner and Iger said in a statement, referring to Jeanie Buss, CEO and minority owner of the Lakers, and her late father, longtime Lakers owner Jerry 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.”

Prior to securing the majority stake in the Lakers, Kushner had actively explored sports and cultural ventures alongside Iger — the pair sat side-by-side with NBA Commissioner Adam Silver at the U.S. Open in September 2025. 

The record-setting deal comes less than a year after Mark Walter, CEO and chairman of TWG Global, acquired a controlling interest in the franchise from the Buss family at a $10 billion valuation, a sale approved by the NBA Board of Governors in October 2025. Walter had served as the Lakers’ majority owner since October 2025. 

On the court, the Lakers’ front office and the team’s head coach, JJ Redick, are preparing to navigate a transitional era following the offseason departure of star forward LeBron James, who signed with the Philadelphia 76ers after eight seasons in Los Angeles.

The transaction follows a 53-29 campaign for Los Angeles that secured the No. 4 seed in the Western Conference playoffs. After eliminating the Houston Rockets in the first round, the Lakers were eliminated in a sweep by the top-seeded Oklahoma City Thunder in the conference semifinals.