Ethan Crossfield 
Former Disney CEO Bob Iger is reportedly moving into one of professional sports’ biggest ownership deals. ESPN reports that Iger and venture capitalist Josh Kushner have agreed to acquire the Los Angeles Lakers from Mark Walter at a valuation of $12.5 billion. If approved by the NBA Board of Governors, the transaction would become the most valuable professional sports team sale in U.S. history and give Iger a major new business role only months after his second Disney tenure ended.
What happened with the Lakers sale
The proposed agreement values the Lakers at $12.5 billion, surpassing the previous U.S. professional sports sales record. That record was set by Walter when he purchased the Lakers for $10 billion in late October 2025, meaning the franchise could change hands again less than a year after the league approved Walter’s acquisition. The reported agreement is not yet final. The NBA’s Board of Governors must formally approve the transaction before it can be completed.
Iger remains on Disney’s board through the end of 2026 after leaving the CEO position on March 18, when Josh D’Amaro succeeded him. Iger first led Disney from 2005 until February 2020, remained executive chairman through December 2021, and returned as CEO in November 2022 after Bob Chapek stepped down.
Why the deal matters beyond basketball
The Lakers would give Iger a far more prominent sports platform than his existing investment in NWSL club Angel City FC. The agreement also builds on a business relationship with Kushner. Iger rejoined Kushner’s Thrive Capital as an advisor in April 2026 after briefly working with the firm as a venture partner in 2022.
The proposed purchase follows an earlier effort by the pair to enter the NBA through expansion. Reports in June said they had hired investment bankers and explored a majority investment in a potential Las Vegas franchise, partly through Kushner’s Thrive Eternal investment vehicle. The NBA had begun formally examining expansion into Las Vegas and Seattle in March, but the Lakers would provide an immediate route into one of the league’s most established franchises rather than a speculative expansion team.
What to watch next
The immediate question is whether NBA governors approve the ownership change. Until that happens, the $12.5 billion valuation remains part of a reported agreement rather than a completed sale. The timing also makes the transaction notable: Walter’s ownership lasted less than a year before the Lakers were reportedly positioned for an even larger valuation.
There is also a broader connection to the games business. Josh Kushner’s brother Jared founded Affinity Partners, which joined Saudi Arabia’s Public Investment Fund and Silver Lake in the $55 billion acquisition of Electronic Arts. That deal closed on August 4, 2026, took EA private, and became the largest private-equity-funded buyout in history. The Lakers transaction and EA acquisition are separate, but together they place the Kushner family close to two of the year’s most visible high-value deals.
Key takeaways
- The reported Lakers valuation is $12.5 billion.
- NBA Board of Governors approval is still required.
- The deal would exceed Mark Walter’s $10 billion purchase from 2025.
- Iger would expand his sports interests beyond Angel City FC.
- The agreement follows an earlier Iger-Kushner look at a Las Vegas NBA team.
Expert View
Iger’s reported Lakers bid matters because it connects entertainment leadership, venture capital, and elite sports ownership in one unusually visible move. For the gaming and esports audience, the most relevant signal is the concentration of capital around major media and interactive entertainment assets. The Lakers deal does not directly change the games industry, but it reinforces how influential investors are treating sports, gaming, and entertainment as parts of the same broader commercial ecosystem.
