The Los Angeles Lakers are set for another major change in ownership after majority owner Mark Walter agreed to sell his stake in the storied NBA franchise to Josh Kushner and Bob Iger for a reported $12.5 billion.
The development comes less than a year after Walter officially completed his purchase of the Lakers from the Buss family in October 2025.
Despite the change in ownership, Iger said Jeanie Buss will remain as Lakers governor while Rob Pelinka will continue as general manager, honoring the agreement made when Walter acquired his stake.
The Buss family is also expected to retain the minority share it kept after Walter’s purchase.
The impending sale raises questions about the direction of the Lakers, particularly after Walter began modernizing the franchise’s basketball operations by adding new personnel to the front office.
However, franchise cornerstone Luka Doncic appeared unfazed by the latest transition.
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Doncic said.
The 27-year-old star also welcomed the incoming ownership group, saying he is looking forward to meeting Kushner and Iger and working toward building something special in Los Angeles.
Kushner, founder of Thrive Capital and co-founder of Oscar Health, already has ties to the NBA as a minority owner of the Miami Heat.
Iger, meanwhile, is a two-time former CEO of The Walt Disney Company and one of the most recognizable executives in the entertainment industry.
The Lakers now enter another period of transition, but with Buss and Pelinka expected to remain in place, the immediate focus will be whether the new ownership group can help push the franchise and Doncic closer to another championship. (Jesus Nathaniel Valdez)
