Record-breaking Lakers sale: the second billion-dollar deal in 14 months redefines the market for prestige sports assets.

The Los Angeles Lakers have just been at the center of one of the most surprising and emblematic M&A deals in global sports. Mark Walter—who acquired control of the franchise from the Buss family in 2025 at a valuation of $10 billion—agreed to sell his majority stake to Bob Iger (former Disney CEO) and Joshua Kushner (founder of Thrive Capital and brother of Jared Kushner) for $12.5 billion, the highest price ever paid for a professional sports franchise.

The deal, initially reported by ESPN and confirmed by multiple sources, represents a 25% increase in the team's valuation in just about 14 months. Jeanie Buss retains her role as "governor," per the previous agreement, and the transaction is still pending approval from the NBA Board of Governors. Iger and Kushner, who had been involved in the league's expansion process into Las Vegas, quickly pivoted to acquiring one of basketball's most iconic assets.

What this sale reveals about M&A involving prestige assets

Three elements stand out to those who follow mergers and acquisitions:

Speed ​​and accelerated valuation: In just over a year, the Lakers went from a record-breaking $10 billion valuation to $12.5 billion. The deal was put together in a matter of days, demonstrating that when a determined buyer with capital and a clear vision for brand stewardship emerges, the market responds with agility. Walter is realizing a significant return on a "trophy" asset.