The Los Angeles Lakers are being sold for an NBA record-breaking $12billion to American businessmen Josh Kushner and Bob Iger.

The news was reported Wednesday by Ramona Shelburne of ESPN.

Kushner and Iger had been in the process of bringing an expansion team to Las Vegas, but have opted instead to buy one of the world's most renowned sports franchises.

The 17-time NBA champions were purchased just a year ago by Mark Walter for a then-record value of approximately $10billion from the Buss family.

"As lifelong NBA fans, we are deeply honored 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 Jerry and Jeanie Buss," Kushner and Iger said in a statement. "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 Los Angeles Lakers are being sold to American businessman Josh Kushner and Bob Iger for a record breaking price over $12 billion, multiple sources told ESPN.

Kushner and Iger were involved in the expansion process in Las Vegas, but a stunning turn, they pivoted to make an…

— Ramona Shelburne (@ramonashelburne) August 12, 2026