Bob Iger is reportedly set to have a smaller ownership stake in the Los Angeles Lakers than earlier reports suggested, with Joshua Kushner expected to become the franchise’s controlling shareholder.
The New York Post reported Thursday that Kushner will be the Lakers’ lone controlling shareholder under the proposed $12.5 billion sale from Mark Walter’s ownership group. The transaction remains subject to approval from the NBA’s Board of Governors.
Earlier reports from major outlets had described Iger and Kushner as the buyers of the Lakers, with the order of their names potentially suggesting that Iger would hold a significant controlling position. According to the Post, however, Kushner is expected to personally own at least 15% of the franchise, the minimum required under NBA rules for the controlling shareholder.
At a $12.5 billion valuation, a 15% stake would be worth at least $1.875 billion. The report indicates that Kushner will provide that amount himself as he takes the controlling position.
Iger is still expected to have a significant role with the Lakers, but apparently not as the team’s governor. The Post reported that he is expected to be a minority owner and alternate governor while potentially taking a leading role in the franchise’s day-to-day management.
“Bob will not be the control person,” a person close to Kushner told the Post. “It is expected that Bob will be a minority owner, an alternate governor, and lead the management of the team day-to-day, but not the governor of the team.”
The ownership developments come as the Lakers enter a new era on the basketball side following LeBron James’ departure. Los Angeles finished 53-29 in 2025-26, fourth in the Western Conference, before being swept by the Oklahoma City Thunder in the second round.
Luka Doncic led the Lakers during the season, averaging 33.5 points, 7.7 rebounds and 8.3 assists in 64 games. He shot 47.6% from the field and earned All-NBA First Team honors while finishing fourth in MVP voting.
Austin Reaves also averaged 23.3 points and 5.5 assists in 51 games, while James contributed 20.9 points, 6.1 rebounds and 7.2 assists across 60 appearances at age 41.
The Lakers subsequently rebuilt around Doncic and Reaves. They re-signed Reaves to a four-year, $180 million contract and acquired Walker Kessler in a sign-and-trade, giving the center a four-year, $130 million deal.
Los Angeles also signed Quentin Grimes to a four-year, $60 million contract, Sandro Mamukelashvili to a four-year, $52 million deal and Collin Sexton to a two-year, $19.2 million contract. The Lakers acquired No. 24 pick Cameron Carr on draft night and added Kevon Looney, Ziaire Williams and Matisse Thybulle.
The proposed sale would mark another major change for a franchise that changed hands just 14 months earlier. Walter purchased the Lakers from the Buss family for $10 billion in 2025, while the proposed $12.5 billion transaction would establish a record valuation for a North American sports franchise.
