Lakers’ $12.5bn sale to Iger and Kushner marks private equity’s NBA play

The Los Angeles Lakers are set to be sold for $12.5 billion to a group led by former Disney CEO Bob Iger and venture capitalist Josh Kushner, pending NBA approval. The deal would make the franchise the most valuable in basketball. The sale comes just 14 months after private equity investors Mark Walter and Todd Boehly purchased a majority stake at a $10 billion valuation. The Buss family, which owned the team since 1979, is now debating whether to sell its remaining minority stake, adding family drama to the transaction. The NBA opened to institutional investment in 2022, and the Lakers deal signals a broader shift away from long-term family ownership toward financial flipping. Kushner's Thrive Capital views the team as a hedge against tech sector volatility, though the franchise struggled on the court last season.