According to reports out of Los Angeles, the Lakers are being sold to a group led by Josh Kushner and Bob Iger for a record setting $12 billion pending approval from the NBA’s board of governors.
Josh, who is brother’s with Donald Trump’s son in law Jared Kushner, and former Disney executive Bob Iger were believed to be involved in the league’s expansion process in Las Vegas. However, somewhere along the line, the decision was made to pivot to Los Angeles where they made an aggressive offer to purchase the Lakers instead.
TWG Global, which is led by Mark Walter, purchased controlling interest in the team from the Buss family just last year. In October of 2025, his bid to become the new majority owner of the team was unanimously approved by the NBA’s board of governors, meaning he’ll have owned the team for less than a year before flipping it.
That quick turnaround could be viewed less than favourably by some NBA owners who have worked diligently to try to stabilize league ownership over the last several years. But it could also pave the way for Walter to now get involved with one of the NBA’s expansion teams instead. If that were the case, then it would add to a burgeoning sports empire controlled by TWG Global.
The company’s portfolio already includes: The Los Angeles Dodgers, Los Angeles Sparks, Chelsea FC, the PWHL, multiple auto racing teams, and Cadillac Formula 1.
The $2 billion profit that Walter will see in his quick sale of the franchise could simply be setting the table for another venture into the sports ownership world down the line. Whether that comes to fruition or not however remains to be seen.
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