The Los Angeles Lakers' newest owner couldn't pass up this opportunity.
The Los Angeles Lakers are changing hands for the second time in as many years as Mark Walter, the owner of the Lakers since he purchased the team in October 2025, is selling the Lakers to former Disney CEO Bob Iger and businessman and venture capitalist Josh Kushner for a record $12.5 billion.
The move is sudden because of Walter's brief time spent owning one of the most recognizable franchises in the world of sports and because of how quickly the deal came together, the exact timeline of which Iger recently revealed in an interview with the California Post.
According to Iger, he and Kushner were looking into purchasing the planned NBA expansion franchise in Las Vegas when news reached them that Walter was interested in selling the team and upon hearing that news, they decided to pivot toward purchasing the already-established and historic Los Angeles franchise instead.
Former Disney CEO Bob Iger watches pregame warm ups before the game between Angel City FC and the San Diego Wave at BMO Stadium. Kelvin Kuo-Imagn ImagesA Speedy Process
"We immediately decided that given the value of the franchise and the iconic nature of the team, that we would be really smart to pursue it. The deal came together in three days," Iger told the California Post. "It's that simple."
How rapidly the sale of one of the largest sports franchises in the world came about is certainly alarming, but there were events leading up to the sale that could have forecasted that such a deal was bound to happen.
Los Angeles Dodgers majority owner Mark Walter walks to the field for the team's ring ceremony prior to the game against the Arizona Diamondbacks at Dodger Stadium. Jayne Kamin-Oncea-Imagn ImagesWalter was reportedly under federal investigation last fall for alleged financial improprieties involving his non-sports related companies, including Guggenheim Partners, an investment and financial services firm, and TWG Global, a holding company.
No criminal charges or monetary penalties have been brought against Walter and there has been no declaration of any wrongdoing by Walter.
Los Angeles Dodgers chairman and controlling owner Mark Walter (left), Los Angeles Rams owner Stan Kroenke (center), and Rams coach Sean McVay look on during the 2026 NBA All Star Saturday Night at Intuit Dome. Kirby Lee-Imagn ImagesBut the fact that the investigation has occurred at all has led some to speculate that Walters' rapid sale of the Lakers could have been a move to gain extra income, $2.5 billion worth of extra income, to prepare for any possible fines to come and to pay off a series of expensive loans that Walter has racked up through his other non-sports related businesses.
Iger and Kushner Take Over
Walter needing money fast is a decent explanation for why the sale happened so quickly and why there apparently wasn't any real negotiation process between Walter, Iger and Kushner or why Walter didn't hear offers from any other parties.
Disney chief executive officer Bob Iger looks on before the game at BMO Stadium. Jayne Kamin-Oncea-Imagn ImagesWith Iger and Kushner already on the hunt together for a NBA franchise and having the capital to make a deal happen, it was natural fit for Walter to make the deal quickly, though any financial concerns from Walter informing his desire for a rapid deal are purely speculative.
What is certain is that the Lakers have new ownership and with the season just over two months away, Iger and Kushner better get acquainted with their new team fast.
