The Los Angeles Lakers are set for a change of ownership after the terms of a record Lakers sale were agreed at a valuation of 12.5 billion dollars, ending months of negotiation over one of the most famous franchises in world basketball.
Current owner Mark Walter and Thrive Capital founder Josh Kushner have settled every outstanding point of the deal, according to ESPN, after meeting in person at Walter’s home in Florida on Thursday. The formal agreement is expected to be signed soon, and the sale will then go to the NBA for review.
FAKTA
- Valuation: 12.5 billion dollars, a record price for an NBA franchise sale.
- Seller: Mark Walter, the current Lakers owner.
- Buyer group: Josh Kushner, founder of Thrive Capital, with former Disney chief executive Bob Iger as a minority partner.
- Status: All terms agreed; formal signing and NBA approval still to come.
- Previous price: Walter bought majority control from the Buss family at a 10 billion dollar valuation about 14 months earlier.
- Next step: NBA review of the financing and ownership structure, followed by a vote of the Board of Governors.
How the Lakers sale came together
The deal first took shape in August, when Kushner approached Walter with an offer pitched at the 12.5 billion dollar valuation. Reports at the time described the outline of an agreement coming together within about 72 hours, with Iger lined up to take a minority stake and oversee the team’s day-to-day operations once the sale closes.
Work on the fine details continued through the autumn. Doubts raised during the week about whether the buyers had raised enough money were answered when the two sides met on Thursday and closed off the remaining terms. Sources close to the talks told ESPN that Kushner had assured Walter he had raised all the money needed to complete the purchase.
The price itself tells the story of how fast franchise values have climbed. Walter first bought a 27 per cent stake in the Lakers in 2021 at a 5 billion dollar valuation, before taking majority control from the Buss family at 10 billion dollars. The new 12.5 billion dollar figure is 25 per cent higher again, and reports estimate Walter stands to make close to 4 billion dollars on the deal.
The Lakers play in front of some of the most recognisable colours in basketball, purple and gold, and the franchise remains one of the NBA’s biggest global draws.
Lakers sale: what happens next
Signing the formal agreement is only the next step, not the last one. Once the paperwork is complete, the NBA will examine the financing and the ownership structure, a process that generally takes some time. At least three-quarters of the league’s Board of Governors must approve the transfer before Kushner can formally take majority control.
Reports suggest the deal could come before the Board of Governors as early as its November meeting if the signing is completed in time, although the review itself can run for several weeks or longer. Until approval is granted, Walter remains in charge of the franchise.
A record price, and a family matter to settle
One separate thread still needs to be resolved. The Buss family trust still holds a 17.8 per cent stake in the team, worth about 2.2 billion dollars at the agreed valuation. Family members voted in August to sell that stake to the Kushner-Iger group, but settlement talks over the trust continue, with a court date set for 8 December if no agreement is reached.
Reports stress that the Walter-Kushner agreement does not depend on how that family matter ends. For supporters, the immediate picture is therefore clear on the headline question: the price is set, the buyers are in place, and only the formal signing and the league’s approval stand between the Lakers and a new era of ownership.
More sports coverage from Watan News will follow the signing and the NBA’s decision as they happen.
