LA Lakers sale: Joshua Kushner and Bob Iger purchase iconic basketball team for $12.5 billion from Mark Walter
Kushner’s venture capital company purchased the iconic basketball team for a whopping $12.5 billion USD ($AU17.7 bn), just weeks after it attempted to purchase a stake in FIFA in its failed privatisation.
The Los Angeles Lakers have been sold to Joshua Kushner and Bob Iger for a whopping $12.5 billion USD ($AU17.7 bn) just fourteen months after it was purchased.
Former owner Mark Walter purchased a majority share in the iconic basketball team in June 2025 for $10 billion USD ($AU14.2 billion) from the Buss family.
Walter — who also owns the LA Dodgers baseball team — confirmed the sale after venture capitalist Kushner, founder of Thrive Capital, reached out with a deal last week which was quickly accepted.
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By continuing you agree to our Terms and Privacy Policy.Businessman Kushner is brother to US President Donald Trump’s son-in-law Jared Kushner, and is married to supermodel Karlie Kloss.
Kushner purchased the stake alongside former Walt Disney CEO Bob Iger, who joined Thrive Capital as an adviser earlier this year after previously serving as a partner.
Kushner founded Thrive Eternal earlier this year for initiatives “with qualities that cannot be replaced by technology”, which was poised to invest a 20 per cent, $4.2 million stake in FIFA last month before the pitch to privatise international football was jettisoned.
Thrive Eternal purchased a minority share in the San Francisco Giants baseball team, and will be forced to sell its minority stake in the Miami Heat thanks to the Lakers deal.
Walter is notably under federal investigation for “financial improprieties” in two insurance companies that he governs, as well as at Guggenheim Partners where he is CEO.
It is believed federal authorities are probing whether UAE sovereign wealth fund Mubadala Capital were misled over the value of Walter’s companies before it invested $10 billion US into Walter’s own investment firm.
That firm purchased the Lakers “a few months later” in 2025.
It is believed Lakers governor Jeannie Buss, whose family sold the majority share to Walter, is believed to be staying in her role, although Bob Igor is reported in saying “if things change, they’ll change” with regards to her involvement.
Lakers superstar point guard Luka Dončić took to social media to acknowledge the sale.
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” he began.
“I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise.
“I look forward to meeting Josh and Bob so we can get to work building something special in LA together.”
