The Los Angeles Lakers are to be sold for a reported record-breaking $12.5bn, external (£9.3bn) – less than a year after Mark Walter took a majority stake in the NBA franchise.
Josh Kushner, the brother of US President Donald Trump’s son-in-law Jared, and former Disney chief executive Bob Iger are buying the controlling interest in one of the world’s most iconic sports teams.
Walter bought his share, reportedly worth an estimated $10bn (£7.45bn), from the Buss family in a deal that was unanimously approved by the NBA Board of Governors in October 2025.
Kushner and Iger said in a statement: “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.
“We have immense respect for the leadership and vision of Jerry and Jeanie 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.”
More to follow.