The Los Angeles Lakers may soon have new owners—and a sale price that underscores both the franchise’s global power and the increasingly extravagant economics of professional sports.

Josh Kushner and former Disney chief Bob Iger are reportedly assembling a group to purchase the Lakers for more than $12.5 billion, a record for a U.S. sports franchise. The deal would represent a sharp increase from the roughly $10 billion valuation attached to Mark Walter’s acquisition of the Buss family’s controlling stake last year.¹

Supporters of the transaction frame it as a stewardship change involving two high-profile investors with the resources and cultural reach to sustain one of basketball’s most valuable brands. Kushner and Iger said they were “deeply honored” to become custodians of the Lakers and pledged to “compete at the highest level” while serving the team, its fans and Los Angeles.¹ The proposed purchase would still require approval from the NBA’s board of governors.

The more skeptical reading focuses less on legacy than on credibility and timing. Iger spent years publicly identifying with the Clippers rather than the Lakers, a fact that has resurfaced as fans assess whether the incoming owner has an authentic connection to the franchise. In 2021, he said he “couldn't root for the Lakers very easily” because it was “not in my DNA.”² He also acknowledged that the Clippers’ tickets were cheaper—a detail that now makes his reported move into Lakers ownership an especially striking reversal.²

Questions also surround Walter’s rapid exit. His wider business empire is reportedly under federal investigation over alleged tax fraud, which he denies, though there is no evidence that the inquiry caused the sale. The contrast is notable: one ownership group emphasizes continuity and civic responsibility, while the other perspective sees a remarkable financial flip—and an unlikely conversion from Clippers sympathizer to Lakers power broker.

The transaction is reportedly pending league approval, leaving both the record valuation and the ownership transition unresolved.