Josh Kushner and Bob Iger have agreed to acquire majority ownership of the Los Angeles Lakers from Mark Walter for $12 billion, sources told ESPN’s Ramona Shelburne. ESPN reported the transaction is the largest sale of a professional sports franchise in the world.
The deal marks the second time in recent years the Lakers have set a record price for a U.S. franchise. Walter purchased the team in 2025 for $10 billion, and Kushner and Iger paid $2 billion more than that figure, according to ESPN.
ESPN compiled the Lakers sale amid a broader surge in franchise valuations. The Boston Celtics sold for $6.1 billion in March 2025 to a group led by Bill Chisholm, a record at the time that surpassed the Washington Commanders’ $6.05 billion sale in 2023. The Celtics deal came within a year of the franchise’s 2024 championship.
The Commanders’ sale followed a period of turmoil and multiple investigations into former owner Dan Snyder. Attorney Mary Jo White released findings that included a $60 million fine for Snyder, and a group led by Josh Harris and David Blitzer completed the $6.05 billion purchase. The team went from a 4-13 record in 2023 to 12-5 in 2024 after drafting quarterback Jayden Daniels, ESPN reported.
Other major transactions include the Walton-Penner group’s $4.65 billion purchase of the Denver Broncos in 2022, which was the NFL record before the Commanders sale. The Walton-Penner deal far exceeded prior NFL transactions such as the Carolina Panthers’ $2.275 billion sale to David Tepper in 2018. Forbes listed Rob Walton’s net worth at $57.9 billion; Walton family ties connect to other sports ownerships in Colorado.
Outside the NFL, notable sales include the combined Phoenix Suns and Mercury purchase for $4 billion, approved in February, and Matt Ishbia’s takeover after a playing career as a Michigan State walk-on. The Dallas Mavericks sold for $3.5 billion in 2023 to the Adelson and Dumont families, and Michael Jordan sold his majority stake in the Charlotte Hornets for $3 billion to a group led by Gabe Plotkin and Rick Schnall that same summer, ESPN reported.
