Jerry Buss purchased the Lakers all the way back in 1979, and his family controlled the Celtics’ rivals until a year ago, when his children finally sold to the majority owner of the LA Dodgers, Mark Walter. Now, not even one full year from the official date of sale, and after just one NBA season, Walter and his group are essentially flipping the team, selling to a group led by Bob Iger and Josh Kushner.
Kushner and Iger were involved in the expansion process and rumored to be the leading candidates for an eventual team in Las Vegas, but they’ve decided to pivot and instead have taken over one of the most iconic franchises in sports for a valuation of over $12 billion - it was valued at roughly $10 billion at last year’s sale.
When Walter purchased the team, Jeannie Buss was to keep a 15% ownership stake and continue running the team, but with this new sale, we’ll have to wait and see the details of how things will be run. An initial statement from Kushner/Iger expressed their respect for the Buss family and a commitment to build on their foundation, but the specifics are another story.
Iger is an executive who is best known for serving as CEO of the Walt Disney Company for over 20 years, until his contract ended in March of 2026. Kushner is a businessman and investor best known for founding the venture capital firm Thrive Capital and co-founding Oscar Health. His brother, Jared, is the son-in-law of President Donald Trump.
Lakers sold again for close to $12.5 billion to Iger/Kushner
In terms of what this actually means on the basketball court, that remains to be seen. Walter had deep pockets and has been having massive success with the Dodgers in MLB. The fact that he sold so quickly after officially gaining control in October is certainly a bit bizarre, but with a valuation over $2 billion higher than when he made the purchase, perhaps it was just too good a deal to pass up.
Walter is also reportedly under federal investigation for loan fraud, which began several months ago and almost certainly played some role in this sudden, shocking, massive sale.
The Lakers are entering a fascinating era, as they’ve gone all in around Luka Doncic this summer, giving a huge payday to Austin Reaves and selling the farm for Walker Kessler. There are going to be a lot of new faces in town and a lot of pressure on the team to start winning, as Doncic will turn 28 this season.
No word yet on what this deal means for JJ Redick, Rob Pelinka, or anyone else involved in the organization, but it’s definitely a big surprise to see any NBA franchise sold twice in a year, especially a team that had one owner for so long, and especially such an iconic team like the Lakers. As a Celtics fan, I can only hope this leads to massive turmoil and disarray, leading to the downfall of the team on the court.
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