The Los Angeles Lakers have reportedly finalized the terms of a record-breaking franchise sale. Mark Walter and Josh Kushner have agreed on all remaining conditions to sell the team at a $12.5 billion valuation, according to ESPN reporting by Ramona Shelburne.
Sale Details and NBA Review
Once the agreement is formally signed, it will be submitted to the NBA for official review. Kushner and former Disney CEO Bob Iger initially reached the purchase agreement with Walter on August 12, establishing the transaction as the largest franchise sale in sports history.
This development comes just under a year after Walter agreed to buy the Lakers from the Buss family for $10 billion. That initial contract contained a clause ensuring Jeanie Buss would stay on as the team governor for a minimum of five years.
Ownership Dispute and Team Performance
ESPN reporter Shams Charania subsequently revealed that Iger and Kushner were acquiring the remaining 17.8 percent ownership stake held by the Buss family, causing Buss to fall below the ownership percentage required to retain her governor role. This prompted Jeanie to challenge the legality of her siblings’ vote to sell the remaining shares, creating an internal family ownership dispute before the latest terms were finalized.
The franchise has reached the playoffs in six out of the last seven years, capturing an NBA championship in 2020. Entering the current campaign, the squad holds a 4-1 record through five games under the leadership of star players Luka Dončić and Austin Reaves.
