Jared Kushner’s Brother Buys LA Lakers

A partnership led by Josh Kushner, brother of President Donald Trump’s son-in-law, reached a deal to buy the Los Angeles Lakers on Wednesday morning for a record-breaking $12.5 billion.

The deal, which was first reported by ESPN’s Ramona Shelburne, is an eleven-figure behemoth that will make it the largest sale of a professional sports franchise, edging out the previous sale of a majority stake in the Lakers last year and the Seattle Seahawks being sold for $9.6 billion in July.

Mark Walter, who purchased the Lakers 10 months prior — in the previous record-high sale at $10 billion — is selling the storied franchise to former Disney CEO Bob Iger and businessman Josh Kushner, the brother of Jared Kushner.

“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,” Iger and Kushner said in a statement. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. 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.”

Prior to selling to Walter in 2025, the Buss family had owned the Lakers since 1979 — and the team won 11 of their 17 championship titles in that timeframe. Walter also owns the Los Angeles Dodgers, Los Angeles Sparks, and the entire Professional Women’s Hockey League, among other ventures.

Walter came under scrutiny last month, however, when Bloomberg published an article reporting that Guggenheim Partners — the investment firm of which Walter is the CEO — is being investigated for disclosing billions of dollars in loans. 

Kushner and Iger’s purchase, which Shelburne reported had happened “incredibly fast,” was involved in the NBA’s potential expansion process into Las Vegas before making an “aggressive” offer to take the franchise off of Walter’s hands.

Kushner is currently a minority owner in the Miami Heat, while Iger owns the National Women’s Soccer League’s Angel City FC.

The transaction will need to be approved by the NBA’s Board of Governors before it is finalized, a process that ESPN reported could take weeks.