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Lakers Sold to Ex-Disney Chief Bob Iger and Karlie Kloss’ Husband for Record-Breaking $12 Billion Iger and Josh Kushner purchased the team from Mark Walter, the Lakers’ majority owner since October 2025 By Anna Lazarus Caplan Anna Lazarus Caplan Anna Lazarus Caplan is a Writer-Reporter for PEOPLE. She has been working at PEOPLE since 2022. People Editorial Guidelines Published on August 12, 2026 11:04AM EDT 5 Comments Credit : Rodin Eckenroth; Jemal Countess/Getty NEED TO KNOW The Los Angeles Lakers have new ownersJosh Kushner and Bob Iger have purchased the franchise for over $12 billionThe businessmen bought the team from Mark Walter The Los Angeles Lakers have been sold for a record-breaking price. An ownership group led by Josh Kushner and Bob Iger is purchasing the franchise for over $12 billion, ESPN reported. The news comes less than a year after Mark Walter bought the team from the Buss family for a then-record $10 billion. “As lifelong NBA fans, we are deeply honored 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,” Kushner and Iger said in a statement. “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.” Lakers star Luka Dončić. Katelyn Mulcahy/Getty Kushner, 41, and Iger, 75, had been previously involved in bringing an NBA franchise to Las Vegas, according to ESPN’s Ramona Shelburne. Follow your favorite athletes on and off the field with PEOPLE’s free sports newsletter — sign up now! Kushner, whose wife is model Karlie Kloss, is a venture capitalist and younger brother of Jared Kushner, the former advisor and current son-in-law of President Donald Trump. Iger is the former CEO of The Walt Disney Co. Walter, 66, called his brief tenure as majority owner of the Lakers “one of the great honors” of his life. Our new app is here! Free, fun and full of exclusives. Scan to download now! “Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said in a statement. “I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.” Related Stories Lakers President Jeanie Buss Shares Her Real Thoughts on Bronny James and the Explosive Luka Dončić Trade (Exclusive) Buss Family to Sell Their Majority Lakers Stake to Dodgers Owner Mark Walter in Largest Sale of Pro U.S. Sports Team: Reports Walter, the CEO and chairman of diversified holding company TWG Global, is under federal investigation for tax fraud, according to the Los Angeles Times. The Lakers will have a new look this season after superstar LeBron James opted not to return to the team, signing instead with the Philadelphia 76ers. Close Leave a Comment Read More: Entertainment Sports Basketball