Mark Walter and Josh Kushner have reached agreement on the remaining terms of a Los Angeles Lakers sale that values the franchise at $12.5 billion, moving the proposed ownership change another step forward.
The two met Thursday at Walter’s Florida home. The development advances the transaction involving Kushner and Bob Iger, although the transfer of ownership has not been completed.
“Los Angeles Lakers owner Mark Walter and Thrive Capital founder Josh Kushner have agreed on all outstanding terms of the sale of the team at a $12.5 billion valuation, sources close to the negotiations told ESPN,” Shelburne wrote.
“The two men met in person Thursday at Walter’s home in Florida to finalize the transaction and are expected to sign the formal agreement soon, those sources said.”
The parties are expected to sign their formal agreement soon. The NBA would then examine the financing and ownership structure as part of its review.
Kushner reportedly told Walter he had obtained the funds needed to complete the purchase. That assurance is a significant part of Friday’s news after questions about the buyers’ financing circulated earlier in the day.
The remaining work, however, extends beyond the negotiations between buyer and seller. The Athletic’s Dan Woike subsequently pointed to procedural requirements and the unresolved situation involving Jeanie Buss and the family trust.
What has changed in the Lakers sale?
The latest reporting establishes progress on the business agreement. It does not announce league approval, identify a closing date or settle every question about the Lakers’ eventual ownership group.
Those are separate milestones, and keeping them distinct is particularly important in a transaction that also involves a dispute over the Buss family’s remaining shares.
| Issue | Reported status |
|---|---|
| Outstanding sale terms | Walter and Kushner have reached agreement, per ESPN. |
| Purchase funding | Kushner has assured Walter the necessary money has been raised, per ESPN. |
| Formal agreement | Signing is expected; the report does not announce a completed signing. |
| League review | The NBA will examine financing and ownership structure after signing. |
| Buss family trust | Woike reports that resolution remains among the steps before ownership transfers. |
The table reflects the reported transaction status, rather than a new announcement from the NBA. A deal can advance between the parties while still requiring further work before the team officially changes hands.
Funding reports give more context to the agreement
Earlier Friday, Ben Horney of Front Office Sports reported that Kushner and Iger were assembling their investor group with minority stakes starting at $250 million. His sources described offerings in the $250 million-to-$300 million range, with some participants expected to invest more.
Horney’s report addressed Bill Simmons’ assertion on his Thursday podcast that Kushner remained billions of dollars short. A source disputed the suggestion of fundraising trouble, while two sources described strong investor interest.
The report did not identify the prospective minority investors. That distinction is relevant: Seeking additional partners does not, on its own, establish that a buyer cannot finance an acquisition.
The available reporting described an investor recruitment process and disputed the claimed difficulty in completing it.
Woike separately reported Friday morning that multiple sources familiar with the situation disputed the notion that finding the money was a problem.
There’s a note in here that I can confirm. According to multiple sources with knowledge, not authorized to speak publicly, there aren’t issues “finding money” for the $12.5 billion sale. https://t.co/ENaHFCLNlL
— Dan Woike (@DanWoikeSports) October 30, 2026
The later agreement on remaining terms gives that financing discussion a new development to follow. Readers should still distinguish a buyer’s assurance and sourced reporting from the league’s eventual review of the transaction.
The identities of the additional investors and their individual ownership percentages remain important details to watch.
Neither the size of a proposed investment nor the overall franchise valuation, by itself, tells fans who will hold decision-making authority once the transaction closes.
Jeanie Buss and the family trust remain part of the picture
Woike cautioned in a Friday afternoon follow-up that the ownership transfer still required further steps.
Still a lot of procedural steps until the sale closes and ownership transfers including resolution between Jeanie Buss and the family trust https://t.co/KsdxdDeL85
— Dan Woike (@DanWoikeSports) October 30, 2026
The family disagreement predates Friday’s agreement. In her Oct. 27 examination of the sale, Shelburne reported that the trust holds 17.8% of the Lakers and that Jeanie’s five siblings had voted to sell the remaining family shares.
Jeanie did not join that vote and challenged its legality. The disagreement concerns whether the other siblings can proceed without her approval.
Shelburne reported that Jeanie’s lawyer cited a 2017 court order, while the siblings maintained that they had enough votes to exercise their rights to participate in the sale. Those are the parties’ competing positions, not a new court ruling.
Also, Iger had reportedly privately reaffirmed a commitment to keeping Jeanie involved after the sale. The eventual role remained tied to the resolution of the family dispute, with settlement discussions ongoing and a Dec. 8 court date scheduled if no agreement was reached.
Friday’s terms agreement should not be read as an announcement that those separate issues have been resolved. Woike’s follow-up makes that qualification particularly relevant to the next stage of the process.
What would Kushner and Iger’s roles be?
Front Office Sports reported that Kushner would become majority owner and Iger would hold a minority position while overseeing day-to-day operations after closing. Those proposed responsibilities help explain why the composition of the buying group matters beyond the headline valuation.
They also leave a practical question for Lakers fans: How would those responsibilities fit with whatever role Jeanie ultimately retains?
The reports describe intentions and unresolved issues, rather than a finished organizational structure. The immediate developments to watch are the formal signing, the NBA’s review and further clarity around the family trust.
Until those steps produce additional announcements, the accurate description is that the sale has advanced, with the remaining terms agreed between Walter and Kushner, while ownership has yet to transfer.
