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Lakers owner Mark Walter and venture capitalist Josh Kushner have agreed on all remaining terms of the $12.5 billion sale, sources confirmed to the California Post.
Kushner told Walter he has raised the money to complete the deal, according to sources.
Walter and Kushner met at Walter’s home in Florida, according to sources, where the outstanding terms were agreed upon.
Walter sold the Lakers to Kushner and former Disney CEO Bob Iger in August, just 10 months after he officially purchased the team from the Buss family at $10 billion.
Once the agreement of the sale is officially signed, the transaction will need approval from the NBA’s board of governors.
It isn’t yet known when the board of governors will have their next meeting.
Any NBA ownership sale requires approval from at least three-quarters of the Board of Governors.
And the process for an ownership sale to be approved and official takes time.
The board of governors approved the sale of the Lakers from the Buss family to Walter on Oct. 30, 2025 – 4 ½ months after Walter agreed to buy the franchise.
The Trail Blazers’ sale to an ownership group led by Tom Dundon wasn’t approved until March 30 after Dundon agreed to buy the Trail Blazers in mid-August of last year – 7 ½ months after the original agreement.
And it took five months for the Celtics’ sale to an ownership group led by Bill Chisholm to be approved by the board of governors.
Kushner’s previous experience as an NBA owner could expedite the process. He became a minority owner of the Grizzlies in 2019 before selling his share to become a minority owner of the Heat in May 2025.
