Stunning news today as the Los Angeles Lakers have been sold just one year after they were purchased. In 2025, business tycoon Mark Walter purchased controlling interest of the team from long-time owners, the Buss family, for a reported $10 billion valuation. Today news broke that venture capitalist Josh Kushner (brother to the son-in-law of the U.S. President) and former Disney CEO Bob Iger are purchasing the Lakers for $12 billion.
The duo was reportedly pursuing an expansion team in Las Vegas but
pivoted to the LA franchise in a sudden move.
Walter’s companies are under federal investigation over financial improprieties.
The sale, which represents a $2 billion profit for Walters in the quick turn-around, will need to be approved by the NBA Board of Governors before becoming official.
