In a shocking move that once again shakes up the basketball landscape in the US, businessman Mark Walter, the chief executive of financial services heavyweight Guggenheim, has sold the iconic Los Angeles Lakers NBA franchise, only 14 months after he acquired it, for another record valuation.

Through this agreement, US businessman Josh Kushner - the brother of president Donald Trump's son-in-law - and Bob Iger, the former chief executive of media giant Disney, have taken control of the Lakers franchise.

The pair have reportedly agreed to a deal that values the Lakers (who made the Western Conference semi-finals in the 2025-26 NBA season) at over $12 billion, a new record valuation for a sports franchise of any kind.

It represents an increase on the $10 billion valuation put on the Lakers at the time of Walter's acquisition of the team in June 2025.

Kushner and Iger had been linked in reports to a bid for an NBA expansion franchise in Las Vegas, which would be priced between $7 billion and $10 billion, but now have pivoted to acquiring a ready-made team, and perhaps the league’s most high-profile franchise at that.

The Lakers, of course, are a far more sure commercial bet than any new expansion franchise, in a larger sports market, with a well-known brand, and without having to jostle against other prospective investors to acquire them.

Since the merger of the BAA and the NBL in 1949, which formed the NBA, only the Boston Celtics franchise has won more than the Lakers’ 17 NBA Championships.

Of that tally, 11 came after the team’s purchase by Dr. Jerry Buss in 1979, as he revolutionized his team into a “showtime” entertainment product that proved a major commercial draw, as well as a dominant on-court team.

Through the 1980s and 2000s, the star-studded Lakers were a dominant franchise, but in the 2010s, the team’s prominence waned as Buss’ spending power paled in comparison to others in the league.

After Buss’ passing, his family ran the team for a number of years, until the sale to private equity and insurance mogul Mark Walter in 2025.

Kushner, for his part, is already invested in US sports. Earlier in 2026, his investment fund Thrive took a minority ownership stake in the San Francisco Giants Major League Baseball franchise, his first sports holding.

More recently, and more controversially, Kushner (via Thrive) was also reportedly linked to FIFA president Gianni Infantino’s attempt to sell off a stake in the FIFA World Cup property, drawing global scrutiny.

Iger too is present in the US sports market. In 2024, he and his wife, Willow Bay, became the controlling owners of the Los Angeles-based Angel City women’s soccer franchise.

The long-time Disney executive stepped down from his chief executive role (his second stint in the position) back in March, but remains part of the company’s board in an interim advisory position through the end of the year.

For Walter, the rapid-fire acquisition and sale poses a myriad of questions.

The businessman, who paid around $5 billion for his 75% holding in the Lakers, stands to make a significant, eight-figure profit on his investment.

However, the quick turnaround for what is a marquee sports property will naturally bring interest into exactly why Walter has chosen to sell.

Some reports have drawn a link to an ongoing federal fraud investigation into Walter, related to insurance companies that he owns taking holdings in other Walter-owned businesses. Walter has always claimed he has acted in good faith in this matter.

Walter is already an established figure in Los Angeles sports and has existing shares in the Los Angeles Dodgers Major League Baseball franchise and the Los Angeles Sparks of the women’s WNBA.

As well as the Lakers, Dodgers, and Sparks, Walter and TWG Global have interests in several other professional sports organizations, including English Premier League soccer club Chelsea and the Professional Women's Hockey League.

Through TWG Motorsports, Walter owns several motor racing teams, including the new Cadillac Formula 1 team that entered the iconic series earlier in 2026.

He is also the CEO of the financial services firm Guggenheim Partners, which is estimated to have more than $325 billion in assets.