Lakers Sale Moves Closer as Mark Walter and Josh Kushner Agree on Final Terms

The sale of the Los Angeles Lakers has moved a step closer. Lakers owner Mark Walter and Josh Kushner of Thrive Capital have agreed on the outstanding terms of the deal, which values the franchise at an NBA record $12.5 billion, the Los Angeles Times reported on October 30, citing several people with knowledge of the situation.

The agreement is not final. It still needs to be signed, reviewed by the NBA and approved by the league's Board of Governors before ownership changes hands.

What Was Agreed

According to the report, Kushner met Walter at Walter's home in Florida to settle the terms that had remained open. The details of those terms have not been made public, and neither side has issued a statement about the agreement.

It is unclear whether Walter has given Kushner a deadline to close. One point the report did include is that Kushner has assured Walter he has the funds to complete the transaction.

Kushner, a venture capitalist, is the founder of Thrive Capital and the younger brother of Jared Kushner. He is partnered on the bid with Bob Iger, the former chief executive of Disney, which adds major entertainment industry experience to the buying group.

A Fast Turnaround for Walter

The timeline stands out. Walter bought a majority stake in the Lakers from the Buss family in 2025, at a valuation of $10 billion. The Buss family had owned the team for more than four decades.

He then agreed to sell less than a year after officially becoming the owner. If the deal closes at $12.5 billion, the valuation will have risen by $2.5 billion in a short period, a figure that says a great deal about how investors now price top sports franchises.

The Wider Pressure on Walter

The sale comes as Walter faces other pressures. He is the owner of the Dodgers and chief executive of Guggenheim Partners, and he has been at the centre of a federal loan investigation, according to the Times.

Bloomberg reported, citing anonymous sources, that his holding company TWG Global is in talks with investors to raise money to help pay down loans on the books of its insurers that had drawn scrutiny from the Justice Department. Walter and Dodgers co owner Todd Boehly also sold their small stake in Chelsea last month, the Financial Times reported, and Walter is reportedly seeking to sell the WNBA's Sparks.

None of those reports establish a direct link between the investigation and the Lakers sale, and Walter has not explained his reasons for selling. The Dodgers are not part of any sale. In August, Dodgers president Stan Kasten said Walter will not sell the club, and Walter's holding company repeated that position in a statement in September.

What Happens Next

The next steps are procedural but significant. Once the agreement is signed, the NBA will review it and the Board of Governors must vote. League approval for a sale of this size typically involves checks on the buying group's finances and structure.

For Lakers fans, little changes on the court in the short term. Ownership transitions take time, and the team's basketball operations continue while the paperwork moves forward.

The presence of Iger in the group may also draw attention to the media side of the franchise. Neither he nor Kushner has outlined plans for the team, its arena arrangements or its local broadcast rights, and any such plans would only become clear after approval.

The Business Lesson

The Lakers deal shows how far franchise values have climbed. A record price for one of the sport's best known teams sets a new reference point for every future NBA sale, and for the investors weighing whether elite teams are worth the premium.

It also shows that ownership is a business decision, not just a passion project. Walter bought, then chose to sell, and the market rewarded the timing. Follow Legend Magazine for more on the business behind the games.