Lakers Sale at €10.8 Billion Signals New Era for Sports Ownership
- Alexij K. Fartelj
- 1 day ago
- 3 min read
“The record valuation of the Lakers reflects how quickly professional sports franchises are becoming a major asset class for institutional investors.”
The Los Angeles Lakers are set to change ownership again, with Josh Kushner and Bob Iger agreeing to acquire controlling ownership of the franchise at a valuation of approximately €11 billion. If approved by the NBA, the transaction would become the largest professional sports franchise sale on record.
The proposed valuation is significantly higher than the approximately €8.8 billion valuation at which Mark Walter acquired control of the Lakers from the Buss family in October 2025. The latest agreement would therefore mark the second major ownership change for the franchise in just over a year.
A Record Valuation
The Lakers' proposed valuation represents an increase of roughly €2.2 billion from the previous transaction.
Walter's acquisition ended nearly 46 years of Buss family ownership, following the family's purchase of the franchise in 1979. The latest deal is still subject to approval by the NBA's Board of Governors and other transaction requirements.
The agreement reportedly developed unusually quickly. Kushner and Iger had separately been exploring the possibility of pursuing an NBA expansion opportunity in Las Vegas before discussions shifted toward the Lakers.
The speed of the transaction highlights the level of interest surrounding established professional sports franchises, where limited supply and strong global audiences have contributed to rapidly increasing valuations.
Kushner and Iger Enter the Lakers
Kushner, founder and CEO of Thrive Capital, already has an ownership interest in the Miami Heat. Iger, the former CEO of The Walt Disney Company, also became controlling owner of Angel City FC of the National Women's Soccer League alongside Willow Bay in 2024.
Their proposed Lakers ownership brings together experience in venture capital, technology, media and entertainment around one of the world's most recognizable sports franchises.
In their joint statement, Kushner and Iger said they were “deeply honored for the opportunity to become stewards” of the Lakers and emphasized their respect for the Buss family's legacy.
The transaction remains subject to NBA approval before the new ownership group can formally take control.
A Broader Sports Investment Trend
The Lakers transaction is part of a wider increase in professional sports valuations and institutional investment.
In July, the Seattle Seahawks agreed to a €8.4 billion sale to the Khosla family, including venture capitalist Vinod Khosla. The transaction established a new record for an NFL franchise.
The San Diego Padres also agreed in May to transfer control of the franchise to an ownership group led by Kwanza Jones and José E. Feliciano. The transaction was reported at approximately €3.4 billion, establishing a new MLB valuation record.
The Boston Celtics were sold in 2025 for approximately €5.4 billion, setting a North American sports franchise record at the time.
Together, these transactions show how quickly valuations have moved across the major U.S. sports leagues.
Why Investors Are Moving Into Sports
Professional sports franchises offer investors exposure to established brands, large audiences and long-term revenue streams including media rights, sponsorships, merchandising and international commercial opportunities.
The ownership structure has also become more accessible to institutional capital. In 2024, the NFL approved investments from selected private equity firms, allowing them to acquire passive minority stakes of up to 10% in teams.
That change has helped create a growing market for sports-focused investment vehicles. Firms including Arctos Partners, RedBird Capital, Sixth Street and Apollo Sports Capital have established positions across professional sports.
For institutional investors and family offices, minority ownership provides a way to gain exposure to sports franchises without purchasing an entire team. For existing owners, selling minority interests can provide liquidity while allowing them to retain control.
Sports Franchises Become Institutional Assets
The Lakers transaction illustrates how professional sports ownership is increasingly being treated as an institutional investment category.
The proposed €11 billion valuation would place the Lakers among the most valuable sports franchises in
the world and represents a substantial increase from the team's previous valuation only a year earlier. If approved, the transaction will establish another record for professional sports ownership while reinforcing a broader trend: major franchises are attracting increasingly sophisticated capital from venture investors, private equity firms and other institutional investors.
For the Lakers, the proposed sale represents another change in ownership in less than a year. For the wider sports market, it provides another indication of how dramatically the financial scale of franchise ownership has changed.
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