Inside the stunning 72-hour Lakers sale -- and the uncertainty that still looms — SkimNews
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- Mark Walter agreed to sell his Lakers shares to Bob Iger and Josh Kushner in a transaction reached over 72 hours and structured at a $12.5 billion valuation, 25% above the $10 billion mark 14 months earlier.
- Josh Kushner and Bob Iger redirected their NBA pursuit from a Las Vegas expansion bid to the Lakers after bids exceeded the NBA’s projected $6 billion-$8 billion range and neared the then-record $10 billion valuation; with bids due Aug. 10, their approach had to be quick and quiet.
- Mark Walter was described by a close financial source on Aug. 7 as possibly looking to restructure assets amid federal investigations into alleged fraud within his $365 billion financial empire; Kushner and Iger required an answer within 24 hours.
- Jeanie Buss negotiated the prior $10 billion sale directly with Walter without opening the bidding, while Joey and Jesse Buss did not initially respond to the vote and sought to sell a minority share below that valuation; all six siblings eventually approved.
- Los Angeles Lakers ended Janie Buss, Joey Buss and Jesse Buss’s franchise roles within two months of the Walter sale closing, while the deal gave Jeanie five seasons of control and no comparable protections to other family members.
- Jeanie Buss increased siblings’ charges for hospitality and game tickets shortly before the playoffs as part of a broader restructuring of Lakers business practices, adding to the family friction.
- Luka Doncic became the model for an overhauled Lakers roster under the new owners, who are evaluating everyone and everything as part of the ownership transition.
Why it matters: The Lakers’ valuation rose to $12.5 billion—25% above the prior $10 billion—and the sale offered Walter liquidity amid federal investigations into alleged fraud. That payoff did not settle the Buss-family divide: Jeanie retained five seasons of contractual control, while three siblings had already been removed from franchise roles.
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