Lakers sold for $12.5 billion, Doncic’s reaction
New ownership change for the Lakers: Walter sells the franchise for $12.5 billion less than a year later. Doncic welcomes Iger and Kushner and has his sights set on an NBA title
The revolution in Los Angeles is not over yet. In fact, less than a year after the last change in ownership, the Lakers are already turning the page again. Mark Walter has sold the Los Angeles Lakers to Bob Iger and Josh Kushner for $12.5 billion, setting a new record for the sale of an American professional sports franchise.
The figure is especially staggering considering that Walter purchased the team from the Buss family for approximately $10 billion in 2025. In less than a year, therefore, the value of the deal has increased by another $2.5 billion.
Being the owner of the Los Angeles Lakers has been one of the great honors of my life. It has been an extraordinary investment, but what I will take with me are the community, the fans and a city that considers this team part of its family. I am grateful to Jeanie Buss, the Buss family, the players and the staff for welcoming me. The Lakers belong to Los Angeles, and I am convinced that the best is yet to come
Mark Walter
The sale comes amid Walter’s legal troubles
Making the timing of the sale even more unusual are the investigations involving Mark Walter and some of his companies. According to reports in the United States, federal prosecutors and the SEC are examining possible financial and tax irregularities connected to transactions worth approximately $16 billion.
As part of the investigations, electronic devices belonging to Walter were reportedly seized by federal agents. Bloomberg also reported that two insurance companies tied to his corporate network had received subpoenas from a grand jury.
The Lakers sale therefore comes at an extremely delicate time for Walter, although it does not mean the businessman is leaving the sports world. He will continue to maintain his interests in the Los Angeles Dodgers and the many other sports entities connected to TWG Global.
Lakers, who are the new owners?
The new faces in charge will be Bob Iger, Disney’s longtime former CEO, and Josh Kushner, founder of Thrive Capital. Neither name is new to the NBA world: both had been involved in the process surrounding the league’s potential expansion to Las Vegas before turning their attention to Los Angeles’ most famous franchise.
In a joint statement released to ESPN, Iger and Kushner explained what this opportunity means to them:
As lifelong NBA fans, we are deeply honored by the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have enormous respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment will be to build on these foundations, compete at the highest level and serve this extraordinary team, its fans and the city of Los Angeles
Iger and Kushner
The arrival of Bob Iger with the Lakers also creates a particularly interesting connection with the NBA’s leadership. The former Disney chief has built a very close relationship with Commissioner Adam Silver over the years, in part through the numerous negotiations between the NBA, Disney and ESPN.
Iger led Disney for much of the past two decades and returned as CEO in 2022 before stepping down in favor of Josh D’Amaro in March 2026.
Kushner, meanwhile, already has direct experience in the NBA. After purchasing a 2.5% stake in the Memphis Grizzlies in 2019, he later invested in the Miami Heat. That stake will have to be sold to allow him to assume a controlling role in the Lakers’ ownership group.
Doncic is already looking ahead to the Lakers’ future
Among the first to comment on the latest ownership change was Luka Doncic, now a central figure in the Lakers’ project and ready to work with the new ownership group.
Being a Laker means everything to me, and I can’t wait to get back on the court and try to bring a championship to Los Angeles. I’ve gotten used to a lot of changes over the last few years, but I know that whatever happens, the potential of this iconic franchise is limitless. I can’t wait to meet Josh and Bob and start working together to build something special in Los Angeles
Luka Doncic
The NBA will now have to complete all of its reviews and formally approve the transaction. But one thing is already clear: in less than a year, the Lakers have gone from the Buss family to Walter and now to the Iger-Kushner duo, with the franchise’s valuation rising to a record $12.5 billion.