Lakers Sale to Josh Kushner and Thrive Capital Reaches $12.5 Billion Agreement

The Los Angeles Lakers are headed toward a change in ownership after majority owner Mark Walter agreed to sell the franchise to venture capitalist Josh Kushner and Thrive Capital for a reported $12.5 billion, an NBA-record price. According to several people with knowledge of the situation who were not authorized to speak publicly, the two sides met at Walter’s Florida home to finalize the outstanding terms of the deal.

The agreement has not yet been signed and remains subject to NBA review. Before the sale becomes official, the league’s Board of Governors must approve the transaction. It is unclear whether Walter has set a closing deadline, though Kushner has reportedly assured Walter that he has the funds to complete the purchase.

Agreement Reached at Record NBA Price

The reported $12.5 billion valuation would set a new high-water mark for an NBA franchise sale, surpassing the $10 billion evaluation attached when Walter acquired a majority stake from the Buss family in 2025. The Buss family had owned the Lakers for more than four decades before selling to Walter.

Walter’s decision to sell comes less than a year after he officially became the team’s owner, a rapid turnaround that has drawn attention across the sports business world. The people familiar with the negotiations emphasized that the terms remain outstanding and that nothing is final until the NBA completes its review process.

Kushner, Thrive Capital, and Bob Iger Join Forces

Josh Kushner is a venture capitalist and the younger brother of Jared Kushner, President Trump’s son-in-law. He leads Thrive Capital, a venture firm with investments across technology and consumer businesses. For this transaction, Kushner is partnering with Bob Iger, Disney’s former chief executive, according to people familiar with the arrangement.

Kushner has told Walter that the necessary funds are in place to close the transaction, though the deal still must be formalized in a signed agreement. The involvement of a high-profile media figure such as Iger adds another layer of interest to a sale that already carries significant financial and cultural weight.

Mark Walter’s Rapid Turnover and Financial Pressure

Walter’s sale of the Lakers arrives amid broader scrutiny of his business operations. He is at the center of a federal loan investigation, and his holding company, TWG Global, is reportedly in talks with investors to raise money to pay down loans on the books of its insurers. Bloomberg reported those discussions, citing anonymous sources, and noted that the loans had drawn scrutiny from the Justice Department.

Walter has also been active elsewhere in sports. He and Dodgers co-owner Todd Boehly sold their small stake in English Premier League club Chelsea last month, according to the Financial Times. Walter is also reportedly seeking to sell the WNBA’s Los Angeles Sparks.

Despite the Lakers sale, Walter has indicated he intends to retain the Los Angeles Dodgers. Dodgers president Stan Kasten said in August that Walter will not sell the baseball team, a position reiterated in a September statement issued by Walter’s holding company. Walter is chief executive of Guggenheim Partners and owns the Dodgers through that organization.

What the NBA Approval Process Entails

Even with terms agreed upon, the Lakers sale is far from official. The agreement must first be signed, after which it will undergo review by the NBA. The league’s Board of Governors then must vote to approve the transfer of ownership. Only after that approval can the transaction close.

This multi-step process is standard for NBA franchise sales and gives the league an opportunity to evaluate the buyer’s financial qualifications, background, and plans for the team. For Lakers fans and league observers alike, the coming weeks will determine whether the record-breaking price holds and whether the Kushner-Iger group receives the necessary clearance.

Buss Family Legacy and the Lakers’ Ownership Timeline

The Lakers have been one of the NBA’s most storied franchises, and the Buss family’s stewardship spanned more than forty years. Walter’s 2025 purchase represented a generational shift, and his reported agreement to sell less than twelve months later underscores how quickly valuations and ownership circumstances can move in modern professional sports.

At $12.5 billion, the reported price would place the Lakers among the most valuable sports franchises in the world and reflects the soaring media rights, sponsorship, and global brand value associated with NBA teams.

Ripple Effects Across Walter’s Sports Empire

Walter’s sports holdings extend beyond basketball and baseball. His potential sale of the WNBA’s Sparks, combined with the recent Chelsea stake exit and the pending Lakers transaction, suggests a period of significant portfolio reshaping. The federal investigation into TWG Global’s lending practices adds uncertainty to how quickly or extensively Walter might divest other assets.

For now, the Dodgers remain outside the sales block, based on statements from team leadership and Walter’s representatives. That distinction matters to Los Angeles sports fans, who would see two major franchises under different ownership trajectories if the Lakers sale is completed.

What Comes Next for the Lakers

The immediate future of the Lakers depends on the NBA’s review and the Board of Governors’ decision. Until those steps are completed, Mark Walter remains the team’s majority owner, and Josh Kushner’s group remains a prospective buyer rather than an official owner.

If approved, the sale would mark one of the most significant ownership transitions in NBA history and could influence how other franchises are valued and sold going forward. For now, the reported agreement stands as a major development in sports business, with the league’s approval process serving as the final gatekeeper.

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