When the subject of $12.5 billion comes up, people are frequently interrupted in the middle of a conversation. Not a million. A billion. for a basketball squad. It’s the kind of number that causes you to stop and reevaluate, much like when the cost of a home in a neighborhood you grew up in seems utterly unrealistic.
ESPN revealed on August 12, 2026, that venture capitalist Josh Kushner and former Disney CEO Bob Iger were purchasing the Los Angeles Lakers for precisely that sum, setting a new world record for the highest price ever paid for a professional sports team. The deal, which is still pending NBA Board of Governors approval, surpassed the previous record of $9.6 billion set by the Seattle Seahawks only a few months prior. Additionally, it surpassed the previous Lakers record, which had been set less than a year prior.
That’s what really sets this story apart. In October 2025, Mark Walter, the CEO of diversified holding company TWG Global, acquired a controlling stake in the Lakers from the Buss family at a franchise valuation of roughly $10 billion, which at the time set a record and was unanimously approved by the NBA. He is selling the same controlling interest for $12.5 billion fourteen months later. From a single transaction in one of the most well-known sports brands on the planet, that represents a $2.5 billion increase in just over a year.
Speaking in public about how the deal came to pass, Iger gave a surprisingly straightforward explanation. At first, he and Kushner were looking for a new expansion franchise in Las Vegas. Walter might be willing to sell his Lakers stake, according to someone. “The deal came together in three days,” Iger stated. For three days. $12.5 billion. This particular detail highlights the speed at which significant capital is currently moving in professional sports.
A quick historical comparison aids in understanding the scope of what has occurred here. In 1979, Jerry Buss, the father of the Lakers, paid $67.5 million to purchase the entire team. Buss is credited with creating Showtime basketball, Magic Johnson, Kareem Abdul-Jabbar, and the Shaq-Kobe dynasty.
The Los Angeles Kings hockey team and the present-day Kia Forum were part of that agreement. The Lakers were worth about $1 billion when Buss passed away in 2013. The franchise has now sold to buyers who finished their due diligence over a long weekend for more than 12 times that amount in a single transaction.
The repercussions go far beyond Inglewood. A successful $12.5 billion sale would increase the average NBA team’s valuation by 21%, to $6.68 billion, according to CNBC’s analysis of the transaction.
The Golden State Warriors, who are currently worth $13 billion, would continue to be the most valuable team in the league, but in the current climate, every team in the league is improving. According to CNBC’s updated valuations, the Chicago Bulls and New York Knicks both saw increases of roughly 26%. One deal is changing the way all professional basketball ownership groups view their holdings.
It’s difficult to ignore how, in a comparatively short amount of time, the Lakers have evolved from a sports team to a financial tool. For more than 40 years, the Buss family owned and managed the team, through both winning and rebuilding seasons, the passing of its patriarch, and all the ensuing family strife.
Before finding a buyer who was willing to pay a substantial premium, Walter held his controlling stake for just over a year. For their part, Kushner and Iger have made the right statements regarding sustained dedication and pursuing championships. In a welcome message, Luka Doncic, the team’s mainstay following LeBron James‘ departure for Philadelphia, expressed his excitement about getting to know the new owners.
The NBA Board of Governors, which convenes in New York in September, will decide whether this sale proceeds as planned. The Buss siblings, who own a 17.8% minority stake and are reportedly split on whether to sell their portion to the new purchasers, are the subject of another subplot. The headline figure doesn’t adequately convey the level of uncertainty that is added by that family negotiation. However, the $12.5 billion headline figure will stick in people’s minds. It’s the number that indicates the precise state of professional sports ownership in 2026.
