Joshua Kushner with his partner
HABARI DAILY I Kampala, Uganda I Billions of dollars are set to exchange hands as the Los Angeles Lakers are reportedly set to be sold for a record-breaking $12.5 billion (£9.3 billion), in a deal that could become one of the biggest transactions ever recorded in professional basketball.
The proposed takeover would see Josh Kushner, the brother of US President Donald Trump’s son-in-law Jared Kushner, join forces with former Disney chief executive Bob Iger to acquire the controlling interest in one of the world’s most iconic sports franchises.
The development comes less than a year after Mark Walter took a majority stake in the NBA franchise in a transaction reportedly valued at about $10 billion (£7.45 billion), setting a new record for the value of a sports team at the time.
Walter’s purchase from the Buss family was unanimously approved by the NBA Board of Governors in October 2025. He also owns a stake in Major League Baseball’s Los Angeles Dodgers alongside businessman Todd Boehly.
Kushner and Iger have presented their proposed takeover as a long-term commitment to preserving and strengthening the Lakers’ standing in American and global sport.
“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,” they said.
The pair also expressed respect for the leadership of Jerry and Jeanie Buss, who played central roles in maintaining the franchise’s legacy following the death of 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,” they said.
The reported $12.5 billion valuation represents an extraordinary increase from the price Jerry Buss paid for the Lakers nearly five decades ago.
In 1979, Buss acquired the Lakers for $67.5 million (£50 million) in a transaction that also included the Los Angeles Kings hockey team and the Los Angeles arena then known as The Forum, now the Kia Forum.
Following Buss’ death in 2013, ownership of the Lakers was transferred to his six children through a family trust. Jeanie Buss subsequently became the team’s controlling owner before the transaction with Walter.
Walter, reflecting on his brief period as Lakers majority owner, described ownership of the franchise as one of the great honours of his 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,” he said.
He thanked Jeanie Buss, the Buss family, players and staff, while insisting that the Lakers’ future remained bright.
The franchise’s enormous financial value is underpinned by one of the richest histories in American sport. The Lakers have won 17 NBA championships, placing them just one title behind the Boston Celtics, who hold the league record with 18.
The proposed transaction also puts Kushner back in the spotlight after his involvement in a recent controversy surrounding FIFA president Gianni Infantino.
Thrive Eternal, the American venture capital firm founded by Kushner, was expected to lead an investor group involved in a proposal known as the FIFA Forward Enterprise, which sought to bring private investment into FIFA’s commercial competitions. The plan was ultimately abandoned.
His proposed Lakers investment, however, represents a major move into the heart of American professional sport.
If completed, the $12.5 billion transaction would demonstrate the extraordinary growth in the commercial value of elite sports franchises, while placing Kushner and Iger in charge of one of basketball’s most recognisable and commercially powerful brands.
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