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One year after buying a controlling interest in the Los Angeles Lakers from the Buss family, team owner Mark Walter is now selling the historic NBA franchise to American businessmen Josh Kushner and ex-Disney CEP Bob Iger for a record-breaking $12 billion.

ESPN was the first to report the news, which has since been confirmed by Walter.

'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 wrote in a statement.

'I am grateful to [former team owner] 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.'

The deal eclipses the $10 billion record sales price Walter paid for the franchise in 2025, leaving with him roughly a $2 billion gross profit before taxes.

Kushner was part of a group of investors that recently tried to buy stakes in the World Cup from FIFA in a since-aborted proposal that has left the group's president, Gianni Infantino, fighting for his job. He is the younger brother of Jared Kushner, President Donald Trump's son-in-law.

Los Angeles Lakers guard Luka Doncic (77) reacts after scoring during a March game in Miami

Josh Kushner was part of a group of investors that recently tried to buy stakes in the World Cup from FIFA in a since-aborted proposal. He is the brother of Trump son-in-law, Jared

Bob Iger recently completed his second stint as CEO of Disney, which has a long-standing partnership with the NBA through its sports cable network, ESPN, and other properities

Iger recently finished his second stint as Disney CEO.

'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,' Kushner and Iger wrote in a joint 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.'

The Lakers are currently transitioning away from the LeBron James era with a roster built around Slovenian superstar Luka Doncic, high-scoring shooting guard Austin Reaves, and newly acquired center Walker Kessler.

Interestingly, LeBron’s son Bronny remains signed with the Lakers after the elder James’ free-agent defection to the Philadelphia 76ers.

Prior to 2025, the Lakers had not been sold since 1979, when Dr. Jerry Buss purchased the NBA team, the NHL’s Los Angeles Kings and The Forum for $67.5 million.

His daughter Jeanie would take over the Lakers after his death in 2013 at age 80.

Jeanie, who was briefly engaged to former Lakers head coach Phil Jackson, became a minority partner in the team with the 2025 sale to Walter, although she has remained the club’s governor. It is unclear what Jeanie's role with the team will be going forward.