The Los Angeles Lakers have been sold for $12.5 billion to an ownership group that includes former Disney CEO Bob Iger and Josh Kushner [1]. This transaction is notable not only for its record-breaking price but also because Iger, a lifelong New York Knicks fan and former Los Angeles Clippers supporter, once publicly stated that rooting for the Lakers was 'not in my DNA' [1]. Iger explained in a January 2021 podcast with Lakers head coach JJ Redick that he chose to support the Clippers after moving to California in 2000, citing both his Knicks allegiance and the lower ticket prices compared to the Lakers [1].
The sale's timing has drawn attention due to its rapid turnaround. Billionaire Mark Walter had agreed to purchase the Buss family's controlling stake in the Lakers in June 2025 at a valuation of approximately $10 billion [1]. Just 14 months later, Walter is selling the team for $12.5 billion, representing a significant increase in value over a short period [1]. This quick flip occurs as Walter's business empire reportedly faces federal scrutiny, including questions about billions of dollars in private-credit investments. However, there is no evidence that the investigation directly forced the sale or that Walter urgently needed liquidity [1].
The blockbuster deal has generated buzz among fans and the market, given the high-profile nature of the buyers and the substantial appreciation in the franchise's value in just over a year [1]. The involvement of Bob Iger, who previously distanced himself from the Lakers, adds a layer of intrigue to the transaction [1].
No forward-looking statements or analyst opinions are provided in the article [1].
CONCLUSION
The $12.5 billion sale of the Los Angeles Lakers marks a significant shift in ownership, with Bob Iger's participation standing out given his past comments about the team. The rapid increase in the franchise's valuation and the context of ongoing federal scrutiny of the seller's business interests add to the market's interest in this high-profile transaction.