Businessmen Josh Kushner and Bob Iger have reached an agreement to purchase the Los Angeles Lakers for $12.5 billion. The transaction, reported Wednesday, marks the second time the National Basketball Association team has been sold within a single year.
The sale comes as the Lakers set a new record for the highest purchase price of a professional sports franchise. The previous ownership history or the specific identity of the current seller was not reported in the source text.
Details regarding the specific ownership split between Kushner and Iger were not disclosed. The move follows other major shifts in the sports and media landscape, though specific league approval dates or transition timelines were not provided in the report.
Fans and residents will likely notice the change through administrative shifts at the highest levels of the organization. While the day-to-day experience for a season ticket holder or a casual viewer might not change immediately, new ownership typically brings changes to team strategy, investment in training facilities, or stadium lease negotiations. For the broader sports market, this record-breaking figure—equivalent to roughly $3,289 for every resident of the city of Los Angeles—signals significant investor confidence in the growth of professional sports valuations during a period of shifting media consumption habits.
The sale sets a precedent for how private equity and media executives collaborate to acquire high-profile sports assets. It also reflects the increasing cost of entry for professional sports ownership. What happens next depends on the NBA's formal review process and a vote by the league's Board of Governors to approve the new owners. Specific dates for these meetings or a final effective date for the transfer of ownership were not reported.