Walter and Kushner Finalize Lakers Sale at $12.5 Billion

The ownership transition of the Los Angeles Lakers has reached a major milestone, with Mark Walter and Thrive Capital founder Josh Kushner agreeing on all remaining terms of a transaction valuing the NBA franchise at $12.5 billion, according to sources close to the negotiations who spoke to ESPN.

The agreement followed an in-person meeting between Walter and Kushner at Walter's home in Florida on Thursday. The two parties are expected to sign the formal sale agreement soon, according to the sources.

Once signed, the transaction will undergo review by the NBA. The league typically requires time to examine the financing arrangements and proposed ownership structure before completing its approval process.

Financial preparations have also advanced, with sources close to the negotiations telling ESPN that Kushner has assured Walter that he has secured all the funding required to complete the acquisition.

The proposed $12.5 billion valuation represents the agreed price for the Lakers, following negotiations between Walter and the purchasing group led by Kushner and former Disney CEO Bob Iger.

Kushner and Iger initially reached an agreement with Walter to acquire the franchise at that valuation. The parties have spent the past several months working through the transaction's details before resolving the remaining terms.

The formal signing is the next expected step before the NBA begins its review of the proposed ownership change.