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Sources: Kushner, Iger to buy Lakers for $12B

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The Los Angeles Lakers are being sold to an ownership group led by Josh Kushner and former Disney CEO Bob Iger for $12.5 billion, setting a new record for a North American sports franchise. The agreement comes less than a year after Mark Walter purchased a controlling interest from the Buss family for a then-record $10 billion. Kushner and Iger, who had been pursuing an NBA expansion team in Las Vegas, pivoted to acquire the iconic franchise. The rapid sale follows reports of a federal investigation into Walter's financial businesses, though a spokesperson has denied wrongdoing. The deal, which requires NBA Board of Governors approval, represents a $2.5 billion increase in the Lakers' valuation in under 14 months. Walter will retain ownership of the Los Angeles Dodgers and Sparks. The buyers have pledged to honor the Buss family legacy and compete at the highest level.

Prepared by Emily Rhodes and reviewed by editorial team.

Timeline of Events

June 2025: Mark Walter agreed to buy controlling Lakers stake at $10 billion valuation.
· October 2025: NBA owners officially approved Walter's purchase of the Lakers.
· Late July 2026: Federal investigation into Walter's $16 billion loan transactions was reported.
· August 11, 2026: ESPN first reported the $12.5 billion sale agreement to Kushner and Iger.
· August 11, 2026 (Time unspecified): Kushner and Iger confirmed the agreement in a joint statement.
· August 11, 2026 (Time unspecified): Mark Walter released a statement calling his ownership an "extraordinary investment".
· August 11, 2026 (Time unspecified): The agreement was confirmed to multiple outlets including the AP, NBC News, and CNN.
· August 12, 2026 (00:00 UTC): International outlets like Anadolu Ajansı and Daily Jang reported the story.
· September 2026 (Future): The NBA Board of Governors is set to meet in New York to consider approval.
· 2028-29 season (Future): Potential timeline for NBA expansion if it proceeds, now bypassed by Lakers purchase.

News Intelligence

Immediate US impact: Most expensive US sports franchise sale shifts NBA power structure.
Possible long-term US impact: Sets new valuation benchmark for all major American sports leagues.
Most affected groups: Lakers fans, Los Angeles, NBA owners, and Mark Walter's business empire.
What to prioritise: Monitor NBA approval and federal investigation developments for deal finalization.