BY Issah Olegor
The Los Angeles Lakers are at the centre of an extraordinary shift in the economics of professional sport, with the iconic NBA franchise reportedly set to change hands for US$12.5 billion, just over a year after Mark Walter acquired majority control at a valuation of about US$10 billion.
The proposed transaction, involving an ownership group led by venture capitalist Josh Kushner and former Disney chief executive Bob Iger, would establish a new record for the highest valuation ever attached to a U.S. professional sports team.
The deal remains subject to due diligence and approval by the NBA Board of Governors.
The proposed sale is particularly striking because Walter’s ownership of the Lakers has lasted less than a year. In June 2025, the Buss family agreed to sell majority control of the franchise to Walter at a valuation of approximately US$10 billion. The NBA subsequently approved the transaction in October 2025.
If the latest agreement is completed at US$12.5 billion, the headline valuation would represent an increase of US$2.5 billion, or roughly 25 per cent, over the valuation attached to Walter’s acquisition.
That rapid appreciation has inevitably turned attention to the unusual circumstances surrounding the ownership change. Reports have noted that Walter’s business interests have faced federal scrutiny, although the existence of that scrutiny does not establish wrongdoing and there is no established evidence that it prompted the Lakers transaction.
Reuters reported that the sudden change has surprised people within the sports business because of the short period between Walter’s acquisition and the proposed sale.
For Kushner and Iger, the proposed acquisition represents a dramatic change in strategy. The pair had previously been associated with efforts to secure an NBA expansion franchise, including interest in Las Vegas. Rather than wait for an expansion opportunity, they are now seeking to take control of one of the most recognisable franchises in world basketball.
The financial scale of the transaction reflects the unique position of the Lakers within global sport. The franchise has won 17 NBA championships and has been home to some of basketball’s greatest names, including Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O’Neal and LeBron James.
The Lakers’ appeal, however, extends well beyond their achievements on the basketball court. The franchise has become a global entertainment and commercial brand with a worldwide following, lucrative broadcasting and sponsorship relationships, merchandise sales and an extraordinary cultural presence in Los Angeles.
That transformation is even more striking when viewed against the franchise’s history.
When Jerry Buss acquired the Lakers in 1979 as part of a larger transaction involving the Lakers, the Los Angeles Kings, The Forum and surrounding real estate, the basketball franchise was valued at a fraction of what it commands today.
The latest proposed valuation demonstrates the extraordinary growth in the commercial value of elite sports franchises over several decades.
Walter’s brief ownership also represents an important chapter in the Lakers’ transition away from the Buss family’s long-running control. The Buss family had been associated with the franchise since Jerry Buss’ purchase, with Jeanie Buss subsequently becoming the team’s controlling figure.
The proposed US$12.5 billion transaction would therefore mark not only another record in sports finance but another major change in the ownership history of one of basketball’s most influential organisations.
The deal is not yet final. The NBA’s Board of Governors must approve the transaction, while the prospective buyers must complete due diligence before the sale can be formally concluded.
Still, the numbers alone tell a remarkable story: a franchise valued at around US$10 billion barely a year ago is now being valued at US$12.5 billion.
