Joshua Kushner confirms $12.5B Lakers deal terms after securing full funding

Joshua Kushner has raised the full $12.5 billion necessary to purchase the Los Angeles Lakers, a source familiar with the negotiations told the Southern California News Group. The Thrive Capital founder and Disney chairman Bob Iger finalized all remaining terms of the agreement with former owner Mark Walter on Thursday at Walter’s Florida residence. This move clears the financial hurdle for the largest sports franchise transaction in recent history.

The source, who spoke on condition of anonymity, stated that Kushner has secured “all the money necessary” to complete the acquisition. Front Office Sports reported on Friday that Kushner and Iger are currently marketing minority stakes to outside investors. Those stakes are valued between $250 million and $300 million each. This pricing structure suggests the new ownership group is diversifying its capital base before the league formally grants approval.

The transaction faces several procedural hurdles before it becomes official. The NBA must first review the logistical details of the proposed ownership group. Subsequently, the NBA Board of Governors must vote on the change of control. That approval could be granted as early as November or delayed by several months, according to league timelines. No public date has been set for the final vote yet.

A separate legal battle involving the Buss family adds complexity to the timeline. Five Buss siblings are attempting to sell their 17.8% minority stake to the new ownership group. Lakers governor Jeanie Buss has opposed this specific transaction. The dispute is currently a public legal fight that is scheduled for review in L.A. Superior Court in December. The outcome of that hearing could influence the final structure of the ownership group.

This potential sale marks the second change in Lakers majority ownership in two seasons. The franchise has been under Buss family control for decades. Walter acquired the team previously, and Kushner and Iger now stand to take over the operations. The finalization of terms in Florida represents a concrete step toward that transition, moving the process from negotiation to the formal approval stage.