The Lakers got flipped?! What we know about the decision to sell, and how the league reacted
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- Mark Walter sold his controlling stake in the Los Angeles Lakers to Josh Kushner and Bob Iger at a $12.5 billion valuation, just 14 months after acquiring it for $10 billion in October 2025.
- NBA approved Walter’s initial purchase of the Lakers in a unanimous vote by the Board of Governors, marking the first ownership change since the Buss family took control in 1979.
- Bob Iger confirmed Jeanie Buss will remain acting governor, honoring the agreement made between her and Walter, though he left open the possibility of future changes.
- Luka Doncic was not consulted about the sale but expressed commitment to the Lakers on social media, planning a videoconference with Iger and Kushner ahead of a team minicamp in Slovenia.
- Multiple league sources questioned Walter’s motives for selling so quickly, citing a federal investigation into his company TWG Global over undisclosed $16 billion in loans to Delaware Life.
- Rob Pelinka is expected to retain his role as long as Jeanie Buss remains in leadership, according to agents familiar with the Lakers’ front office dynamics.
Why it matters: Walter’s $2.5 billion profit in 14 months raises questions about non-basketball factors driving the sale, especially amid a federal probe into his firm. The Lakers’ leadership stability now hinges on Iger and Kushner’s commitment to Buss and Pelinka, affecting team continuity and Doncic’s championship pursuit.
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