- Lakers News
The Lakers are reportedly being sold for the second time in short succession, this time to Josh Kushner and Bob Iger.
In a completely unexpected and shocking move, the Lakers are reportedly being sold again.
On Wednesday morning, Ramona Shelburne of ESPN reported that the franchise was being sold for a record-breaking $12 billion to Josh Kushner and Bob Iger.
Shortly after the news came out, Kushner and Iger released a statement to ESPN confirming the sale.
The full statement reads as such:
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
This sale is only for the Lakers as Shelburne reported Mark Walter was not selling the Dodgers in this move while Dan Woike of The Athletic reported the Sparks are not included. Walter also released a statement to ESPN.
Here is his statement in full:
“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 am 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.”
To say this sale is shocking would be an understatement. It was only in mid-June of last year that news first broke of Walter buying the Lakers. The sale was not finalized until late October of last year. This means the franchise will have been sold twice in barely more than a year.
For now, it’s unclear what caused this sale, but it’s not hard to look at the ongoing federal investigation into Walter and assume that had a role. Without knowing much about the investigation, many people will likely try to connect dots and assume something is going on with that investigation that prompted Walter to sell the team.
Even if that is the case, he sold the team for a profit after owning it for less than a year. When he purchased the Lakers, it was at a valuation of $10 billion. Fast forward to 2026 and he made $2.5 billion on the sale.
There’s certainly a lot to unpack from all this with lots of the answers we’re looking for not coming for some time. First, who are Kushner and Iger and what experience do they have in running a team?
Well, Josh Kushner is, in fact, Jared Kushner’s brother, which means the Lakers are alarmingly close to Donald Trump now. He is also a minority owner of the Miami Heat, a move he made back in early 2025 that he will now, obviously, have to divest from. To acquire a stake in the Heat, he sold his stake in the Grizzlies, which he acquired in 2019. That’s all to say he does have a history of being around the NBA.
Outside of basketball, sports fans more recently likely heard his name as part of the FIFA World Cup controversy in which FIFA President Gianni Infantino was attempting to sell stakes of competitions to private investors, specifically to an investment fund run by Kushner. The plan backfired spectacularly and might cost Infantino his job, so Kushner pivoted to buying the Lakers, it seems.
Iger is likely a name sports fans have at least heard before as he served as the CEO of Walt Disney Company for nearly 20 years. When it comes to sports ownership, he is the majority owner of Angel City FC, the LA-based National Women’s Soccer League franchise.
Another fair question from this is what happens to Jeanie Buss and Rob Pelinka. The answer is that we don’t know and likely won’t for some time.
With Jeanie, though, it wouldn’t be a surprise if this is the end of the road. Her agreement to stay with the team was with Walter. If he is no longer the controlling owner, that deal won’t exist. It was already a very unique deal that was hard to grasp, so it’d be a surprise if another set of owners agrees to a similar deal.
As for Pelinka, his immediate future is not in any imminent danger. It took months to finalize the deal last time around, so we’ll likely be well into the season once this move gains league approval and becomes official. It’s unlikely, as much as some Lakers fans may want it, that the new owners are going to come in and immediately clean house during the season.
To that point about the front office, though, this will end the partnership between the Dodgers and Lakers, which had grown throughout the last year. All of the expansion of the front office that was ongoing under Walter likely will be put on hold to some degree.
There are a lot of questions that won’t have answers for some time and a lot to unpack from this. But what a shocking bit of news that no one anticipated.
You can follow Jacob on Twitter at @JacobRude or on Bluesky at @jacobrude.bsky.social.
- Lakers News
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