Coverage spread: 5 sources — 3 left · 1 center · 1 right
Lean ratings via AllSides / Media Bias-Fact-Check. How this works.
Where they agree
- Bob Iger and Josh Kushner are buying the Lakers from Mark Walter at a $12.5 billion valuation, a record for a pro sports franchise.
- Walter had bought the team from the Buss family just about a year earlier (October 2025) at a $10 billion valuation.
- Both buyers issued a joint statement praising Jerry and Jeanie Buss and pledging long-term commitment to the team and city.
- The sale follows LeBron James’s departure to the Philadelphia 76ers, leaving Luka Dončić as the roster’s centerpiece.
Where they differ
- The Guardian and CNBC report Walter faces federal scrutiny — CNBC frames it as an SEC/prosecutors probe into his insurers and Guggenheim, while the Guardian more directly calls it a tax fraud investigation that Walter denies.
- CNBC and CBS News mention Walter’s 2024 stroke and internal concern about his fitness to lead his businesses, a detail the other outlets omit.
- The New York Post centers its coverage on emotional reactions — Magic Johnson’s endorsement and a wave of skeptical fan reactions on social media — rather than deal mechanics.
- NBC News is alone in detailing Kushner’s scrapped FIFA World Cup stake deal and Iger’s exact Disney tenure dates; the Guardian focuses more on NBA board approval timing and historical valuation comparisons like the Hornets and Celtics sales.
Former Disney CEO Bob Iger and Thrive Capital founder Josh Kushner have agreed to buy the Los Angeles Lakers from Mark Walter at a $12.5 billion valuation, according to multiple people familiar with the deal. The sale comes roughly 14 months after Walter’s group bought the storied NBA franchise from the Buss family in October 2025 at a $10 billion valuation, making this the second sale of the team in about a year and the largest price ever paid for a professional sports franchise.
What did Iger and Kushner say about the purchase?
In a joint statement, Iger and Kushner called it an honor to become “stewards” of the Lakers, name-checking Jerry and Jeanie Buss and pledging a “long-term commitment” to build on the franchise’s foundation, compete at a high level, and serve the team, its fans and the city of Los Angeles. Walter, in his own statement, thanked Jeanie Buss, the Buss family, players and staff, calling his ownership “one of the great honors” of his life and saying the Lakers “belong to Los Angeles.”
Who are the new owners?
Kushner, 41, is the founder of venture capital firm Thrive Capital and co-founder of Oscar Health. He already holds a minority stake in the Miami Heat and had a plan for FIFA to sell Thrive a minority World Cup stake that was scrapped after international backlash. He’s the younger brother of Jared Kushner, son-in-law of President Donald Trump. Iger, 75, ran Disney across two stints, from 2005 to 2020 and again from 2022 until stepping down this past March. He and his wife, journalist Willow Bay, already own NWSL club Angel City FC, bought at a $250 million valuation in 2024. Iger recently joined Kushner’s Thrive Capital, and the two had previously explored bidding for an NBA expansion team in Las Vegas.
Why did Mark Walter sell so quickly?
The sources don’t give a definitive reason, but they lay out circumstances that may have factored in. Bloomberg reported last month that the SEC and federal prosecutors are investigating potential financial improprieties at two insurance companies tied to Walter and at Guggenheim Partners, the financial firm he leads; the Guardian notes Walter is under federal investigation over alleged tax fraud, which he denies. The Wall Street Journal also reported that Walter suffered a stroke in 2024, and that concerns have circulated inside his business empire over whether lingering effects have affected his ability to lead. Walter’s TWG Global holding company keeps its other sports assets — stakes in MLB’s Dodgers, the WNBA’s Sparks, the Premier League’s Chelsea and the Professional Women’s Hockey League — outside this sale, which covers only the Lakers stake.
What happens to Jeanie Buss’s role?
Jeanie Buss kept her position as Lakers governor when Walter bought the team last year, but it isn’t clear what role, if any, she’ll retain once Iger and Kushner take over. Any change in ownership still needs approval from the NBA’s board of governors, whose next meeting is scheduled for September.
How does this fit the Lakers’ current roster situation?
The sale lands just weeks after LeBron James, the league’s all-time leading scorer, announced he was leaving the Lakers after eight seasons to sign a two-year, $8 million deal with the Philadelphia 76ers. The team’s on-court identity now shifts to Luka Dončić, acquired in a February 2025 trade from Dallas and signed to an extension last August, along with Austin Reaves and Walker Kessler. The Lakers finished fourth in the Western Conference last season before losing to Oklahoma City in the semifinals. They have 17 championships overall, trailing only Boston’s 18, with their most recent title in 2020.
How does the price compare to other sports sales?
At $12.5 billion, this deal tops the previous US sports record, last year’s $10 billion Walter purchase of the Lakers, which itself had eclipsed the Boston Celtics’ $6.1 billion sale. Three years ago, Michael Jordan sold his majority stake in the Charlotte Hornets for $3 billion. The jump underscores how fast NBA franchise valuations have climbed. The deal also arrives as the league fields ownership bids for expansion franchises in Seattle and Las Vegas, which would grow the NBA to 32 teams.
What has the reaction been?
Lakers legend and former team president Magic Johnson publicly endorsed the sale, saying he’s known Iger personally for more than 40 years and predicting he’ll “bring championships back to LA.” Fan reaction on social media was more mixed, with many expressing shock at how quickly the valuation rose and joking about Iger’s Disney background potentially reshaping the fan experience, alongside pointed comments about Walter profiting roughly $2.5 billion in about a year.
Sources
- CNBC
- New York Post — Magic Johnson makes championship promise after historic Lakers sale · Stunned Lakers fans react to blockbuster $12.5B sale: ‘Insane!’
- CBS News
- NBC News
- The Guardian
Featured photo: Troutfarm27 via Wikimedia Commons (CC BY-SA 4.0)