NBA owners don’t need to win anymore. They just need their teams to get more valuable
On August 12, 2026, ten months after he finalized the $10 billion deal to acquire the franchise from the hallowed and chaotic Buss family, Mark Walter sold the Los Angeles Lakers to a group led by Josh Kushner and Bob Iger at a valuation of just over $12 billion. His tenure at the helm is […]
The Los Angeles Lakers, once the crown jewel of the NBA, recently underwent a shocking sale. The team was sold to a group led by Josh Kushner and Bob Iger for a valuation of over $12 billion, marking the shortest tenure of any owner since the merger. Mark Walter, the previous owner, sold the team in just 72 hours, a speed that seemed unusual even for a man known for his rapid decision-making.
This sale, the most shocking in the NBA according to ESPN reporter Dave McMenamin, raises questions about the state of the franchise and the motivations behind the sale. Walter's tenure was marked by significant financial moves, including raising ticket prices by 40% and adding courtside seats, but his overall impact on the team's performance and success was not particularly impressive.
The sale comes at a time of increased scrutiny, with an FBI investigation into Walter's business dealings and the team's financial situation adding to the uncertainty surrounding the future of the Lakers.
Written by urgent.news from SB Nation's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
