Business of Sports · NBA
Report: Walter and Kushner Finalize Terms of $12.5 Billion Lakers Sale
A formal agreement and NBA review were still pending in ESPN’s October report.
Mark Walter and Thrive Capital founder Josh Kushner have agreed on the remaining terms of a Los Angeles Lakers sale valuing the franchise at $12.5 billion, ESPN reported October 30. A formal agreement and NBA review remained outstanding in that report.
Ramona Shelburne reported that Walter and Kushner met Thursday at Walter’s Florida home. Sources close to the negotiations said a formal agreement was expected soon. Once signed, it would go to the league for a review of financing and ownership structure.
Kushner assured Walter that he had raised the necessary money to complete the purchase, ESPN’s sources said. Former Disney chief executive Bob Iger is also part of the buying group.
The proposed transaction follows Walter’s acquisition of majority ownership from the Buss family. TWG Global announced on October 30, 2025, that he had finalized that purchase after approval from the NBA’s Board of Governors. That announcement concerned the earlier deal, rather than the proposed Kushner and Iger purchase.
TWG’s announcement said Jeanie Buss would remain Lakers governor and oversee daily team operations for the foreseeable future. It also identified Walter as TWG’s co-chairman and chief executive, with controlling interests in the Dodgers and Los Angeles Sparks at that time.
The Associated Press reported the Kushner and Iger agreement in August at a $12.5 billion valuation, compared with $10 billion for Walter’s earlier purchase. The difference between those franchise valuations is $2.5 billion, or 25 percent. The Buss family had controlled the franchise since 1979, according to that August report, making the proposed transaction another major ownership change after several decades of sustained family control.
Agreeing on terms does not establish a completed transfer. The next steps described in ESPN’s October report were a signed agreement and league review; the report supplied no closing date or NBA approval announcement.
