The Los Angeles Lakers are changing hands for the second time in 14 months. Mark Walter, who acquired a controlling stake from the Buss family at a then-record $10 billion valuation in 2025, has agreed to sell his majority equity to a group led by Thrive Capital founder Josh Kushner and former Disney CEO Bob Iger at a $12.5 billion valuation, according to multiple reports citing people familiar with the terms.
The agreement, first reported by ESPN, would represent the most expensive sale of a professional sports team in North American history, surpassing the $9.6 billion valuation attached to the Seattle Seahawks transaction completed last month. Only two sales have ever valued a North American franchise at $10 billion or more — both involve the Lakers within the past year.
Walter's tenure as majority owner lasted roughly 14 months. The NBA Board of Governors approved his purchase from the Buss family in October 2025, after the deal was announced in June of that year. Jeanie Buss, whose family had owned the franchise since 1979, remained governor under an agreement intended to last at least five years.