For the second time in as many years, the Los Angeles Lakers are being sold as Mark Walter has agreed to hand over the team to businessmen Bob Iger and Josh Kushner for a $12.5 billion valuation.
The sale comes as a big surprising considering Walter just bought the team a year ago and was in the process of implementing wholesale changes to the organization. According to Ramona Shelburne of ESPN, Walter didn’t have plans of selling but was approached by Iger and Kushner this past Sunday with an offer he could not refuse.
“Josh Kushner and Bob Iger were part of a group that was bidding on a new expansion franchise in Las Vegas,” Shelburne reported. “The price for Las Vegas was climbing up into the stratosphere and at one point they kind of looked at each other and said, ‘Why are we going so hard for an expansion franchise without checking to see if a team like the Los Angeles Lakers is open?’ They both live in L.A., I think Josh has a house in Malibu and Bob has a house in Brentwood. They’re huge sports fans, NBA fans… I think they just placed a call to see if before they move forward with, I don’t know the number what it was on Vegas, but let’s say it was $10 billion.
“Why are we going more than that for an expansion franchise when the Lakers just sold for $10 billion for a brand and a team that already exists and is iconic. They called Mark Walter on Sunday and asked if he would consider it. He had a day or two to decide. It’s just an incredible business opportunity, I don’t think he was looking to sell, but it was something he had to look at because of how much money was involved. This is an absolutely earth shatter number at $12.5 billion.”
It was recently reported that Walter’s other companies are being investigated for potential financial improprieties, so perhaps that played a role in his decision to sell the Lakers right now.
Regardless, Iger and Kushner will now be the third group to own the Lakers since the Buss family decided to sell. It remains to be seen if they will again make wholesale changes or continue on the path that Walter began, as new owners typically like to bring in their own people and philosophies after paying this much for a team.
How much money did Mark Walter make as Lakers owner?
Walter purchased the Lakers in 2025 for a $10 billion valuation, which was a record for a North American professional spots franchise. Now just one year later, he is selling the team to Iger and Kushner for a $12.5 billion valuation, which again is a record.
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