Walter and Kushner agree on terms for record $12.5 billion Lakers sale

The sale of the Los Angeles Lakers has been valued at a league-record $12.5 billion after owner Mark Walter and venture capitalist Josh Kushner agreed on all previously undecided terms.

According to several people with knowledge of the situation, the two parties have reached an agreement on the outstanding conditions of the deal. The contract still needs to be signed by both sides before it moves to the next stage.

The NBA’s Board of Governors must review and approve the agreement before the sale becomes official. The league’s review process is a required step in the transaction.

Kushner, a partner at Thrive Capital and the younger brother of Jared Kushner, met with Walter at the latter’s home in Florida to finalize the details. Bob Iger, the former chief executive of Disney, is partnering with Kushner on the purchase.

Walter acquired a majority stake in the Lakers from the Buss family in 2025. The Buss family had owned the team for more than four decades. Walter purchased the stake for an evaluation of $10 billion.

It is unclear if Walter set a specific deadline for Kushner to close the deal. However, Kushner has assured Walter that he has the funds necessary to complete the transaction.

Walter has been involved in a federal loan investigation regarding his holding company, TWG Global. Bloomberg reported that TWG Global is in talks with investors to raise money to pay down loans on its insurers. These insurers had drawn scrutiny from the Justice Department.

The Financial Times reported that Walter and Dodgers co-owner Todd Boehly sold their small stake in the English Premier League club Chelsea last month. Walter is also reportedly seeking to sell the WNBA’s Sparks.

Dodgers president Stan Kasten stated in August that Walter will not sell the Dodgers. Walter’s holdings company reiterated this stance in a statement issued in September. The Dodgers plan to address bullpen needs and pitching depth this offseason, though a potential lockout could complicate their free-agency plans.

Janie and Joey Buss asked a judge on Friday to dismiss Jeanie Buss’ claim that the family trust cannot sell Lakers shares without her consent.