Lakers Sale at $12.5 Billion Valuation Agreed, ESPN Reports

The sale of the Los Angeles Lakers at a $12.5 billion valuation has moved a step closer. Mark Walter and prospective buyer Josh Kushner have agreed to all remaining terms of the sale, ESPN's Ramona Shelburne reported, citing sources close to the negotiation. The two met on Thursday to finalise the terms and are expected to sign the formal agreement soon. The deal would then go to the NBA for review.

At $12.5 billion, the valuation would make this the largest franchise sale in sports history. Shelburne reported that Kushner has made clear he has raised the money needed to complete his end of the transaction. Kushner, the founder of Thrive Capital, and former Disney chief executive Bob Iger agreed in August to buy the Lakers from Walter. Front Office Sports reported, in coverage summarised by The Sporting Base, that Iger would be a minority owner overseeing day to day operations once the deal closes.

How the price jumped in a year

Walter bought a majority stake in the Lakers from the Buss family in 2025 at a $10 billion valuation. In that sale, the family retained a 17.82 percent stake, just above the NBA's 15 percent minimum tied to the family's control role, and received go-along rights. The new agreement values the team 25 percent higher than that deal, about 14 months later.

ESPN reported on August 17 that Johnny, Jim, Janie, Joey and Jesse Buss had voted to sell the remaining family shares to the Iger and Kushner group using those go-along rights. Each sibling stands to make an additional $371 million if the family sells the entirety of its shares through that provision, according to ESPN.

The family fight is now in court

Jeanie Buss is trying to stop that part of the deal. In a court filing this week, reviewed by ESPN and reported by USA TODAY Sports, she accused her siblings of conspiring against her in a "cloak and dagger" campaign, said they were jealous that their father picked her over them to govern the Lakers, and asked a judge to block the sale of the family's shares. A sale would push her below the stake she needs to stay on as the team's governor: NBA rules require a governor to hold at least 15 percent, USA TODAY reported.

Her filing argues her siblings must obey a 2017 court order that required the co-trustees to always vote to keep her as the controlling owner. A hearing is scheduled for December 8 in Los Angeles Superior Court. Until the court rules or the family settles, the league's most famous ownership saga has two tracks running at once: a record sale moving toward NBA review, and a family dispute that could still decide who governs the team.