Lakers ownership to transfer from Mark Walter to Joshua Kushner and Bob Iger

Mark Walter has agreed to sell his controlling interest in the Los Angeles Lakers to a partnership of venture-capitalist Joshua Kushner and former Disney chief executive Bob Iger. The transaction, valued at about $12.5 billion, follows Walter’s purchase of a majority stake from the Buss family last summer at a $10 billion valuation. The sale does not affect Walter’s ownership of the WNBA’s Los Angeles Sparks or the Los Angeles Dodgers.

According to an anonymous source familiar with the deal, Kushner approached Walter on a Friday and the agreement was reached over the weekend. The source said Walter was not actively seeking to sell, but the offer was considered compelling. The deal is still subject to full due diligence and must be approved by at least three-quarters of the NBA Board of Governors.

Federal investigators are reportedly examining Walter’s broader business activities, including two insurance companies he leads and his stake in Guggenheim Partners. While no direct link between the investigation and the sale has been confirmed, the timing has drawn attention.

Bob Iger brings extensive media experience, having led Disney, which owns NBA broadcast partner ESPN, and maintains long-standing relationships with league officials. Joshua Kushner, who runs the venture-capital firm Thrive Capital, previously held a minority stake in the Miami Heat, which he will need to divest as part of the transaction. Both new owners have expressed interest in expanding their sports portfolios.

NBA Commissioner Adam Silver has not yet commented publicly. League insiders said the news surprised many, and some agents expressed confusion about the rapid change in ownership.

Jeanie Buss, the Lakers’ governor, is contractually obligated to remain in her role for at least five years under the previous agreement with Walter. Iger told a California newspaper that he intends to honor that arrangement, adding that any future changes would be addressed as needed.

Lakers star Luka Dončić posted on social media that he looks forward to working with the new owners and pursuing a championship. The team’s front office, led by President of Basketball Operations Rob Pelinka and head coach JJ Redick, remains largely unchanged, though the roster has been reshaped after the departure of LeBron James and recent free-agent acquisitions.