Lakers News

Mark Walter Selling Lakers To Josh Kushner And Bob Iger For Over $12 Billion

Gabriel Arteaga
9 Min Read

Originally published by LakersNation.com

One year ago, Jeanie and the Buss family shocked the world when they sold their majority ownership in the Los Angeles Lakers to Mark Walter, the CEO of TWC Global and owner of the L.A. Dodgers.

Walter bought the Lakers for a record $10 billion valuation and had big plans to overhaul the organization to get them back into being perennial contenders. It appears he will not follow through with those plans though as Walter is now selling the Lakers to businessmen Josh Kushner and Bob Iger, per Ramona Shelburne of ESPN:

This is another shocking development for the Lakers, as they are being sold for a record price for now the second time in the last year.

Iger, 75, is the former CEO of the Walt Disney Company from 2005-20 and from 2020-26 before leaving earlier this year. Kushner, who was a 41-year-old minority owner of the Miami Heat before this sale, is the founder and managing partner of the venture capital firm Thrive Capital while also being a co-founder and vice-chairman of Oscar Health. He is the youngest son of Charles Kushner and the brother of Jared Kusher.

Both Walter, as well as the new ownership group, provided statements to Shelburne on this sale:

With this sale, it can be expected that more changes will be coming to the Lakers. Under Walter, they had plans to invest in the infrastructure of the organization, which included remodeling the team’s practice facility this offseason.

Additionally, Buss was expected to remain in the organization as Governor for at least five years with Rob Pelinka continuing to run the front office. With new ownership now taking over, it remains to be seen if that will still be the case.

Why is Mark Walter selling the Lakers?

Walter did not give a direct reason for selling in his statement, although it was recently reported that his other companies are being investigated for potential financial improprieties. It was also reported that Walter had a stroke during the Dodgers’ World Series run in 2024, so perhaps his health was a factor as well.

Ultimately, Walter making $2 billion after owning the team for just one year may have been an offer he couldn’t refuse.

If you love our reporting, choose LakersNation.com as a preferred source on Google.

One year ago, Jeanie and the Buss family shocked the world when they sold their majority ownership in the Los Angeles Lakers to Mark Walter, the CEO of TWC Global and owner of the L.A. Dodgers.

Walter bought the Lakers for a record $10 billion valuation and had big plans to overhaul the organization to get them back into being perennial contenders. It appears he will not follow through with those plans though as Walter is now selling the Lakers to businessmen Josh Kushner and Bob Iger, per Ramona Shelburne of ESPN:

This is another shocking development for the Lakers, as they are being sold for a record price for now the second time in the last year.

Iger, 75, is the former CEO of the Walt Disney Company from 2005-20 and from 2020-26 before leaving earlier this year. Kushner, who was a 41-year-old minority owner of the Miami Heat before this sale, is the founder and managing partner of the venture capital firm Thrive Capital while also being a co-founder and vice-chairman of Oscar Health. He is the youngest son of Charles Kushner and the brother of Jared Kusher.

Both Walter, as well as the new ownership group, provided statements to Shelburne on this sale:

With this sale, it can be expected that more changes will be coming to the Lakers. Under Walter, they had plans to invest in the infrastructure of the organization, which included remodeling the team’s practice facility this offseason.

Additionally, Buss was expected to remain in the organization as Governor for at least five years with Rob Pelinka continuing to run the front office. With new ownership now taking over, it remains to be seen if that will still be the case.

Why is Mark Walter selling the Lakers?

Walter did not give a direct reason for selling in his statement, although it was recently reported that his other companies are being investigated for potential financial improprieties. It was also reported that Walter had a stroke during the Dodgers’ World Series run in 2024, so perhaps his health was a factor as well.

Ultimately, Walter making $2 billion after owning the team for just one year may have been an offer he couldn’t refuse.

If you love our reporting, choose LakersNation.com as a preferred source on Google.

Exit mobile version