Photo: Peter Baba

The Los Angeles Lakers have been sold to American businessman Josh Kushner and Bob Iger for $12.5 billion, setting a new record for the most expensive franchise sale in sports history.

The deal comes only 14 months after Mark Walter acquired control of the Lakers at a $10 billion valuation. The latest transaction represents another significant increase in the value of one of the NBA’s most recognizable franchises.

At $12.5 billion, the Lakers sold for more than twice the amount paid for any other American sports franchise. The Boston Celtics previously changed hands for $6.1 billion, while the Washington Commanders were sold for $6.05 billion and the Denver Broncos for $4.65 billion.

The Lakers’ rise in value is particularly notable considering the franchise’s ownership history. Jerry Buss purchased the team in 1979 as part of a larger $67.5 million transaction before the Buss family eventually sold control to Walter.

Kushner and Iger addressed their purchase in a statement, emphasizing their connection to basketball and their plans for the organization.

“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.

“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.”

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