Josh Kushner and Bob Iger are reportedly buying the Los Angeles Lakers for a record $12. 5 billion, a stunning transaction that comes just 14 months after Mark Walter took control of the franchise. The sale, first reported by ESPN’s Ramona Shelburne, marks the second ownership change for the Lakers in little more than a year and raises new questions about the future leadership of one of sports’ most valuable brands. Walter’s group had only taken control of the franchise in October 2025, when the NBA approved his bid.
At the time, he described the Lakers as a legacy investment he expected to hold for the long term. The sudden sale at a roughly $2. 5 billion premium over the reported purchase price has prompted league-wide speculation about why Walter is moving on so quickly. In a statement released through Shelburne, Walter said: “Owning the Los Angeles Lakers has been one of the great honors of my life, an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family.
I’m grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles and I have every confidence the best is still ahead. ”
Sources around the league have pointed to an ongoing federal investigation into Walter’s business interests outside of his sports ownership, which includes the Dodgers and the Sparks, as a potential reason for the sale. Those connections have raised questions, but no confirmed link has been established between the investigation and the transaction.
The sale price reflects a dramatic spike in franchise valuations, driven in part by expectations of NBA expansion that were not factored in when Walter bought the team. The Buss family is expected to retain roughly 17 to 18 percent of the franchise, but the agreement that had positioned Jeanie Buss as controlling owner for a five-year window is believed to dissolve with the sale. A Lakers employee described the atmosphere inside the organization as “business as usual” while the sale process moves through league approval over the coming months. But the change in ownership puts the entire basketball operation under review, including head coach JJ Redick and general manager Rob Pelinka.
Redick, who received an extension after his first season as head coach, may benefit from a personal connection to Iger. The former Disney CEO was a Clippers season ticket holder during Redick’s playing days in Los Angeles. Iger is also close to recently retired point guard Chris Paul, who helped Iger clear out his offices at Disney and could emerge as a name tied to the organization’s future. The most significant uncertainty surrounds Luka Dončić.
The Lakers traded for Dončić with the expectation that he would anchor the franchise’s next championship era, but he has now played under three different ownership groups in two years across two teams. Dončić summed up the turbulence in a social media post: “I’ve gotten used to big changes over the last few years. ”
Russell Westbrook’s time with the Lakers began in 2021 when the team acquired him to form a superstar trio alongside LeBron James and Anthony Davis. The deal generated immediate excitement but the fit never worked on the court, and Westbrook became one of the most scrutinized players in franchise history before being traded away.
Westbrook’s career, which ended with his retirement announcement, is defined by statistical achievement rather than championship success. He finished with 209 triple-doubles, the most in NBA history, and averaged a triple-double in four separate seasons, more than every other player in history combined. He also joined LeBron James as the only players to reach 25,000 points and 10,000 assists. His 2016-17 MVP season, which followed Kevin Durant’s departure from Oklahoma City, saw him average 31.
6 points, 10. 7 rebounds, and 10. 4 assists per game. Westbrook played 18 seasons across seven teams, a career built on relentless effort rather than natural recruiting pedigree.
He had only one other scholarship offer before UCLA took him, and he later recalled playing through injuries and exhaustion when load management was becoming common across the league. Shelburne reflected on what she will remember most about his career: “Honestly, just how hard he played. We’re in this era of load management and there’s a question of guys play every night. This man played every night.
He played every minute and gave every bit of energy that was inside of him and then some energy. ”
Westbrook leaves the game without the championship ring he chased, but he gets to retire on his own terms. His departure from the Lakers, while disappointing on the court, is now part of a larger period of transition for the franchise, which is simultaneously celebrating his legacy, absorbing a new ownership group, and trying to build around Dončić. The Lakers now face a defining moment.
They have the superstar in Dončić, the financial power of a $12. 5 billion valuation, and the institutional brand that has historically attracted championship-caliber talent. But with new owners preparing to evaluate everyone in the building, the next decisions could determine whether this era returns the franchise to the top of the NBA or costs them another championship window before it fully opens.
