The Los Angeles Lakers are set for a record-breaking ownership change after Mark Walter agreed to sell his controlling stake to Josh Kushner and former Disney CEO Bob Iger for around $12.5 billion (£9bn).
The deal would make the Lakers the most valuable sports franchise ever sold, highlighting the huge financial growth of the NBA.
Walter only took control of the Lakers in 2025 after a deal that valued the franchise at about $10 billion. His latest sale therefore represents a major increase in value in just over a year.
Kushner and Iger are expected to bring significant business and entertainment experience to the franchise. The deal is still subject to the necessary NBA approval.
The Lakers remain one of the biggest names in American sports, and the record sale could further underline the growing commercial power and global appeal of the NBA.
