The Lakers have been sold for a record $12.5 billion. What happens now?

The Los Angeles Lakers were sold for a record $12.5 billion. So now what?

Like every major sports league, the NBA has specific protocols in place to structure the sale of franchises. Those procedures are outlined in Article 5 of the league’s Constitution and By-laws. Yet, given how quickly the agreement came about, and given how much work goes into vetting prospective owners, this is a multi-step process that may take months to resolve, possibly dragging into 2027.

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On Wednesday, Aug. 12, Mark Walter agreed to sell the Lakers to businessman Joshua Kushner and former Disney CEO Bob Iger in a deal that set the record for the highest amount paid for a North American sports franchise. Neither the NBA nor the Lakers publicly acknowledged the agreement Wednesday because the formal application requesting the transfer of ownership — what is tantamount to a private purchase agreement — hadn’t been filed to the NBA league office.

This is the first step in the process. That document must be filed to NBA commissioner Adam Silver, who then has the right to request any additional information from the parties. The NBA, however, has a nine-person advisory finance committee that will oversee the thorough vetting of Kushner and Iger, including potential background checks and a complete review of the finances of each.

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All-time Los Angeles Lakers legends who shaped the game

Jerry West (#44) played 14 seasons from 1960-1974 with the Lakers and was a force who never left the NBA once he got there, according to USA Today’s Jeff Zillgitt. The Hall of Famer, pictured here in action against the Cincinnati Royals, was remembered for his imprint as a shooting guard and builder of teams. His impact remains visible in today’s NBA and he went on to touch generations of teams and players, including LeBron James, who talked to West about winning and losing.

(Malcolm Emmons, IMAGN IMAGES)

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All-time Los Angeles Lakers legends who shaped the game

Jerry West (#44) played 14 seasons from 1960-1974 with the Lakers and was a force who never left the NBA once he got there, according to USA Today’s Jeff Zillgitt. The Hall of…

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Publish date : 2026-08-13 10:08:00

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