The Los Angeles Lakers are being bought in a $12bn takeover deal by Joshua Kushner, the Donald Trump associate who attempted to buy a stake in the Fifa World Cup.
Kushner, who is the brother of Trump’s son-in-law, along with Bob Iger, the former Disney chief executive, confirmed to ESPN that they intend to take control of one of the most famous sports teams in the world, 14 months after the organisation’s last change of ownership.
Mark Walter, the American chief executive of Guggenheim Partners and co-owner of Chelsea Football Club, only took control of the Lakers in July 2025 with a €10bn (£7.45bn) majority stake. It broke the record for the most expensive takeover of a sports team in history. That record is to be broken again thanks to Kushner’s and Iger’s £8.88bn deal,
Kushner was the driving force behind the private investment entity that did a deal with Gianni Infantino, the Fifa president, in the failed £15bn sell-off of the football World Cup. Kushner’s Thrive Eternal firm was named by Fifa as the lead investor in Fifa Forward Enterprise, through which Infantino planned to sell an approximate 20 per cent stake for $4.2bn for a share of the football governing body’s commercial rights.
Iger, who stood down as chief executive of Disney in March, is an adviser to Thrive Capital, the US venture capital firm that was founded by Kushner and that launched Thrive Eternal with a view to obtaining ownership opportunities in well-known cultural assets and global franchises.
Kushner’s older brother is Jared Kushner, who is married to Trump’s daughter, Ivanka.
In a statement, Joshua Kushner and Iger said: “As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of [former owners] 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.”
The takeover must still be finalised and then approved by the NBA’s board of governors. It is uncertain what will happen to Kushner’s minority-stake ownership of the Miami Heat.
Walter has decided to sell the Lakers for $2bn more than he bought the side for from the Buss family last year. The news comes three weeks after LeBron James elected to leave for the Philadelphia 76ers.
Walter is reported to be facing a federal investigation into his finances. The LA Times reported last week that $21bn in loans from two Delaware insurers who Walter owns were allegedly received by companies with ties to him or by his TWG Global holdings company, but were not disclosed to state insurance regulators.
Walter has not publicly commented, but a TWG spokesman told the LA Times: “Mark Walter and TWG have always acted in good faith, and those who have done business with Mark know him as honest and straightforward. Nothing about these transactions was any different.”
Addressing the unexpected sale, Walter said: “Owning the Los Angeles Lakers has been one of the great honours of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”
