The Los Angeles Lakers' record $12.5bn sale was agreed in a weekend, leaving the NBA world in shock. Josh Kushner, brother of US President Donald Trump's son-in-law Jared, and former Disney chief executive Bob Iger bought the controlling interest in one of the world's most iconic sports teams. Kushner moved fast to get the deal done, approaching Mark Walter over the majority stake he purchased only last Friday.

The deal will become the most expensive sports team sale ever reported, with Walter expected to make a $2.5bn profit on his investment in next to no time. The Lakers were valued at $10bn in June 2025 - then a record for a sports team. The speed of the agreement has added to the surprise surrounding the sale in the United States.

When ESPN broke the story on Wednesday, it sparked a flurry of reaction and comment from NBA executives, insiders and other figures within the sport who were all stunned. Reasons for the sudden sale are unclear, with Walter facing an ongoing federal investigation into his company Delaware Life, but there is no suggestion that the Lakers sale was prompted by that investigation. Basketball legend Earvin 'Magic' Johnson backed the deal, stating 'Lakers fans, you couldn't have two better owners.'.