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Bob Iger, Josh Kushner buy the Los Angeles Lakers for $12.5 billion, reports say (Gray News) - The Los Angeles Lakers are being sold to Bob Iger and Josh Kushner for a record-breaking price, the second such sale in a year, according to reports. According to the Associated Press, the sale agreement is $12 billion. Iger is the former Disney CEO. Kushner is the founder of the venture capital firm Thrive Capital and the younger brother of Jared Kushner. ESPN was the first to report the American businessmen made an aggressive offer to buy the NBA’s most valuable franchise from Mark Walter. Only 14 months ago, Walter became the team’s majority owner after buying a controlling interest from the Buss family for a then record-setting price of $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,” Iger and Kushner said in a statement. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. 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.” According to ESPN, Iger and Kushner have been involved in the expansion in Las Vegas. According to the Associated Press, Iger and Kushner don’t have to wait for that decision now that they’ve bought the Lakers. Expansion, if it happens, could take place in the 2028-29 season. Kushner also has a minority stake in the Miami Heat, The Athletic reported. Bob Iger became the controlling owner of NWSL team Angel City FC in 2024, along with Willow Bay. The sale will still need approval from the NBA’s board of governors, and that process can take several weeks. The next board meeting is set for next month in New York. The record-setting sale comes weeks after LeBron James left the Lakers after eight seasons to become a free agent. He ultimately decided to sign with the Philadelphia 76ers. The Lakers have won 17 championships going back to the franchise’s early years in Minneapolis, the second-most in NBA history behind Boston’s 18.