Former Disney CEO Bob Iger and Thrive Capital founder Joshua Kushner have acquired majority ownership of the Los Angeles Lakers from Mark Walter in a transaction valuing the NBA franchise at $12.5 billion. The deal comes less than a year after Walter acquired a controlling stake in the Lakers at a $10 billion valuation in October 2025.
Based on the reported valuations, the latest transaction represents a $2.5 billion increase in the Lakers’ implied value over roughly 10 months, or approximately 25%.
The sale covers Walter’s stake in the Lakers and does not include his interests in other professional sports franchises.
Iger and Kushner said they plan to build on the legacy established by Jerry and Jeanie Buss while maintaining a long-term commitment to competing for championships and supporting the Lakers’ relationship with Los Angeles and its fan base.
The deal also expands an existing business relationship between Iger and Kushner. Iger joined Thrive Capital, the venture capital firm founded and led by Kushner, earlier in 2026.
Iger, 75, stepped down as Disney’s CEO earlier this year after two separate periods leading the entertainment company that totaled roughly two decades.
Iger and Kushner had also previously expressed interest in acquiring a potential NBA expansion franchise in Las Vegas.
Iger already has an ownership position in professional sports. He and his wife, Willow Bay, acquired Angel City Football Club, a professional women’s soccer team in Los Angeles, for $250 million in 2024.
Walter’s sports holdings extend well beyond the Lakers. Through TWG Global and related investments, he has ownership interests in Major League Baseball’s Los Angeles Dodgers, English Premier League club Chelsea and the WNBA’s Los Angeles Sparks.
Walter also co-founded Guggenheim Partners and continues to lead the financial services firm.
The Lakers transaction comes after reports that the Securities and Exchange Commission and U.S. prosecutors were investigating potential financial improprieties involving two insurance companies controlled through Walter’s TWG Global and Guggenheim Partners.
CNBC cited previous reporting that Walter suffered a stroke in 2024 and that questions about his health had emerged within his business organization.
The $12.5 billion valuation places the Lakers at a substantially higher valuation than the $10 billion level attached to Walter’s acquisition of the controlling stake less than a year earlier.
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“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. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a statement. “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.”
Bob Iger and Joshua Kushner
