Los Angeles Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have reportedly agreed on all remaining terms to complete the sale of the franchise at a record $12.5 billion valuation, following an in-person meeting on Thursday at Walter’s residence in Florida.
Senior writer Ramona Shelburne first reported the breakthrough for ESPN on Friday, noting through TSN’s coverage that the two sides resolved their final negotiation points during the Florida meeting. Kushner, who is purchasing the team alongside former Disney CEO Bob Iger, assured Walter during the talks that he has raised all the funds required to close the transaction.
“Los Angeles Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have agreed on all outstanding terms of the sale of the team at a $12.5 billion valuation, sources close to the negotiations told ESPN. The two men met in person Thursday at Walter’s home in Florida to finalize the transaction and are expected to sign the formal agreement soon, those sources said.”
Once Walter and Kushner sign the formal purchase agreement, the contract will move to the NBA office for a full review of the financing and ownership structure before going to a vote of the NBA Board of Governors, according to theScore. At $12.5 billion, the deal sets a new benchmark as the largest franchise sale in sports history, topping the $10 billion valuation Walter paid for the Lakers in October 2025 by $2.5 billion in less than a year.
How the $12.5 Billion Deal Came Together
Walter, the CEO of Guggenheim Partners and controlling partner of MLB’s Los Angeles Dodgers since 2012, originally agreed to buy his controlling stake in the Lakers from the Buss family in October 2025 at a $10 billion valuation. On August 12, 2026, Kushner and Iger reached their initial agreement with Walter to acquire the franchise for $12.5 billion. Walter’s move to sell the team came after reports that federal prosecutors and the Securities and Exchange Commission were investigating alleged undisclosed loans involving his insurance companies and Guggenheim Partners.
The Buss Family Trust Dispute and What Comes Next
While Walter and Kushner have settled the terms between buyer and seller, a separate legal battle within the Buss family trust remains unresolved. When Walter purchased the Lakers from the Buss family in 2025, the sale contract included a clause keeping Jeanie Buss in her role as team governor for at least five years.
That arrangement was thrown into question in August 2026 when ESPN’s Shams Charania reported that five of the six Buss siblings voted to sell the family’s remaining 17.8 percent ownership stake to Iger and Kushner. Because NBA rules require a team governor to hold at least a 15 percent stake, the sale of those remaining shares left Jeanie Buss below the threshold needed to keep her seat. She filed a legal challenge in Los Angeles Superior Court contesting the legality of her siblings’ vote, as Lakers Daily reported.
The Athletic’s Dan Woike reported that procedural hurdles and the Buss family litigation still have to be worked through before the ownership transfer officially closes. Settlement talks between Jeanie Buss and her siblings are ongoing, with a December 8 court date scheduled if they do not reach an agreement. On the court, the Lakers have reached the playoffs in six of the past seven seasons, won the 2020 NBA championship, and sit at 4-1 through five games this season behind Luka Dončić and Austin Reaves.