Lakers Sale Terms Agreed, NBA Approval Still Required

The proposed $12.5 billion sale of the Los Angeles Lakers has cleared a major hurdle, with owner Mark Walter and buyer Josh Kushner agreeing on the remaining terms. They met at Walter’s Florida home to settle the outstanding issues, sources said. Kushner told Walter he had secured the money needed for the purchase.

Kushner and former Disney chief executive Bob Iger agreed in August to buy the team. Walter had acquired a controlling interest from the Buss family in 2025, at a valuation of about $10 billion. The proposed new price is $2.5 billion higher, placing it above all previous team transactions in professional sports.

The transaction is not yet complete. The agreement still needs to be formally signed and approved by the NBA’s board of governors before ownership can change hands.

Kushner founded Thrive Capital. He and Iger had previously considered opportunities connected to possible NBA expansion before turning to the Lakers. The franchise has also seen recent roster changes, including Luka Doncic’s arrival and LeBron James’ departure. The ownership transfer remains subject to the league’s review.