The Los Angeles Lakers are one step closer to officially changing hands.
Franchise owner Mark Walter and venture capitalist Josh Kushner reached an agreement on all outstanding details of the team's pending purchase by Kushner and former Disney CEO Bob Iger, sources told ESPN's Ramona Shelburne.
The agreement values the storied NBA franchise at $12.5 billion - a record sum for a professional sports franchise. Kushner reportedly informed Walter that he's raised the funds to finalize the deal.
Walter first entered into an agreement to sell the Lakers in August, shortly after it was reported that the 66-year-old was under investigation for alleged tax fraud involving his other companies. Walter, who has been a controlling partner of MLB's Los Angeles Dodgers since 2012, owned the NBA team for less than a year; he purchased the Lakers from the Buss family in October 2025 at a $10-billion valuation.
The NBA's board of governors still has to approve the purchase once a formal purchase agreement is signed.
