Lakers sale: Mark Walter and Josh Kushner agree final terms at record $12.5 billion as Jeanie Buss fights siblings in court
Mark Walter and Josh Kushner have agreed terms on the Lakers' record $12.5 billion sale, people familiar said, as Jeanie Buss's court fight heads to December.
At a glance
- Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have agreed all outstanding terms at a $12.5 billion valuation, a record for an NBA team, according to people familiar with the deal.
- The agreement is not yet signed. The NBA must then review it and its Board of Governors must approve it.
- Former Disney chief Bob Iger is Kushner's partner in the bid.
- Jeanie Buss has asked a Los Angeles court to remove two siblings as co-trustees of the family's stake; a hearing is set for December 8.
Los Angeles Lakers owner Mark Walter and investor Josh Kushner have agreed all outstanding terms for the sale of the team at a $12.5 billion valuation, a record for an NBA franchise, people familiar with the negotiations said. The deal is not done: it still has to be signed, reviewed by the NBA and approved by the league's Board of Governors.
Neither side has announced the price. Walter and Kushner, founder of Thrive Capital, met in person on Thursday at Walter's home in Florida to settle the final points. Kushner has told Walter he has raised all the money he needs, those people said, and a formal signing is expected soon. Bob Iger, the former Disney chief executive, is Kushner's partner.
Why the timing matters: the NBA owners meet in November
The Board of Governors meets in November. If the two sides sign quickly, a vote could follow, although the league's checks on financing and ownership structure normally take time.
| Date | Step in the Lakers ownership story |
|---|---|
| 2025 | Walter buys a majority stake from the Buss family at a $10 billion valuation |
| August 12, 2026 | Reports say Walter will sell to Kushner and Iger at about $12.5 billion |
| August 17, 2026 | Five Buss siblings reported to have voted to sell the family's remaining shares |
| October 16, 2026 | Siblings ask a court to dismiss Jeanie Buss's claim |
| October 28, 2026 | Jeanie Buss files new court papers against her siblings |
| October 29, 2026 | Walter and Kushner meet in Florida to settle terms |
| December 8, 2026 | Court hearing in Los Angeles |
If the valuation holds, the Lakers would rise $2.5 billion in value in about 16 months, and would again set the mark for a sports team.
Why Walter is selling so soon remains unclear from any statement of his own. He has been the subject of a federal investigation over loans connected to his company TWG Global, according to reports. The White House has said the sale has nothing to do with the Trump administration. Walter is also reported to be looking to sell the WNBA's Los Angeles Sparks. His baseball team, the Dodgers, is not for sale, the club has said.
Jeanie Buss against her five siblings
The sale is running alongside a bitter family case. The Buss family kept 17.82% of the team in 2025, just above the NBA's 15% minimum, along with the right to sell on the same terms as Walter, known as go-along rights. Johnny, Jim, Janie, Joey and Jesse Buss voted in August to sell those remaining shares to the new buyers. Each sibling could gain about $371 million.
Jeanie, the team's governor since their father Jerry Buss died, has gone to Los Angeles Superior Court to stop that. A filing made on Wednesday accuses her brothers and sister of running a "cloak and dagger" campaign through the media and says they resented their father's decision to put her in charge. Her lawyers wrote that he chose his daughter over his four sons as his successor.
She wants the court to:
- remove Joey and Janie Buss as co-trustees, for breach of fiduciary duty;
- hold them in contempt over a 2017 court order;
- find Jim, Johnny and Jesse liable for aiding and abetting;
- order them to pay her legal costs.
The siblings said in their own October 16 filing that her claim has no merit, and that they only used voting rights given to them as beneficiaries of the family trust. There have been settlement talks, people familiar with them said, though progress is unclear.
What it means for the team and Lakers fans
For now, nothing changes on the court, and no one has announced any change in the front office. The bigger unknown is Jeanie Buss's role, since her agreement to stay in charge was tied to Walter's ownership and it is unclear whether new owners would offer the same deal.
The go-along rights can only be used once Walter formally tells the family about a signed sale, so the signature will start the next round of this dispute. The court hearing is set for December 8.
Questions people are asking
Who is buying the Los Angeles Lakers?
A group led by Josh Kushner of Thrive Capital and former Disney CEO Bob Iger has agreed terms to buy Mark Walter's stake at a reported $12.5 billion valuation. The deal is unsigned and needs NBA approval.
Is Jeanie Buss still running the Lakers?
She remains an investor and governor for now, but her agreement to stay was tied to Walter's ownership. She is also in a court dispute with her siblings over the family's remaining shares.
