Lakers sold for record $12.5 billion, awaiting NBA approval
Yahoo Sports • 1 min read • Latest: Aug 13, 2026, 10:08 AM
Last updated Aug 13, 2026
The Los Angeles Lakers were sold for $12.5 billion to Joshua Kushner and Bob Iger. The transaction requires NBA approval, which could take months. This process involves a thorough vetting by the NBA's advisory finance committee, including background checks and a review of the buyers' finances. While the first Board of Governors meeting is scheduled for September, the ownership transfer does not need to be voted on in person. An update on the sale's status is expected from NBA commissioner Adam Silver following that meeting.
- •Kushner and Iger reached an agreement on August 12.
- •NBA must approve the sale, involving a detailed vetting process.
- •The next Board of Governors meeting is set for September.
- •The ownership transfer will require a 75% approval from the Board.
- 10:08 AMYahoo Sports — The Lakers have been sold for a record $12.5 billion. What happens now?
"Although Joshua Kushner and Bob Iger reached an agreement to buy the Lakers, the transaction still needs to be approved. It could take months.
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