Josh Kushner must sell his minority stake in the Miami Heat before completing the Lakers purchase which could delay the historic deal.
The Los Angeles Lakers' historic sale to Josh Kushner and Bob Iger came together remarkably quickly, but one major issue could slow down the process of making the deal official.
According to ESPN's Brian Windhorst, Kushner must first sell his minority ownership stake in the Miami Heat before he can complete his purchase of the Lakers.
"The Heat don't sell shares very often. That's a very closely held team," Windhorst said on The Hoop Collective podcast. "That potentially could take some time."
Kushner purchased a stake of less than 5% in the Heat in 2024. The shares did not come from majority owner Micky Arison or his family, while the exact size and purchase price were never publicly disclosed.
Now that Kushner is moving toward becoming one of the Lakers' controlling owners, that investment has to be dealt with before the Los Angeles transaction can be finalized.
Lakers deal still needs to clear several steps
Kushner and former Disney CEO Bob Iger agreed to purchase the Lakers from Mark Walter in a deal valuing the franchise at $12.5 billion, the highest valuation for a U.S. professional sports franchise.
The potential delay involving Miami stands in stark contrast to how quickly the Lakers agreement itself came together.
Iger and Kushner had initially been pursuing ownership of a potential NBA expansion franchise in Las Vegas before learning that Walter might be willing to sell his Lakers stake.
The opportunity quickly changed their plans, with Iger saying the deal was agreed upon within just three business days.
Walter himself only became the Lakers' majority owner in 2025, when the Buss family sold control of the franchise at an approximately $10 billion valuation. That transaction ended the Buss family's 46-year run as the team's controlling ownership group.
Jeanie Buss remained the Lakers' Governor following Walter's purchase, and the arrangement called for her to continue in that position for at least several years. Iger has already indicated that the new ownership group intends to honor the agreement and keep Buss involved.
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