The Lakers have undergone many changes over the last few seasons, but their recent blockbuster sale has shocked the entire sports world. Venture capitalist Joshua Kushner and former two-time Disney CEO Bob Iger have taken the reins.
The Lakers’ New Owners
ESPN’s Ramona Shelburne offered some clarity in an article shortly after the sale.
The Los Angeles Lakers are being sold to American businessman Josh Kushner and Bob Iger for a record breaking price over $12 billion, multiple sources told ESPN.
Kushner and Iger were involved in the expansion process in Las Vegas, but a stunning turn, they pivoted to make an…
— Ramona Shelburne (@ramonashelburne) August 12, 2026
Reports indicate that both Iger and Kushner share a deep love of basketball. Lakers reporter Dave McMenamin emphasized Iger’s passion for the sport during a guest appearance on the ESPN Radio show Sedano & Kap.
Dave McMenamin on new owner Bob Iger, a genuine basketball guy Lakers fans can gravitate towards (via Sedano & Kap):
"He is a guy that fans will enjoy. He has a very genuine presence to him. He knows basketball. He spends a lot of his time with basketball. He even did it when he… pic.twitter.com/j3r0Bq87v6
— 𝐏𝐮𝐫𝐩𝑮𝒐𝒍𝒅
(@PurpGoldLakers) August 12, 2026
While Iger was a fan from the sidelines, Joshua Kushner is a proven businessman among league circles. In 2019, He acquireda minority stake in the Memphis Grizzlies.
Kushner followed sold his Grizzlies stake in 2025 to purchase aminority stake in the Miami Heatbefore finally partnering with Iger for their Wednesday morning blockbuster. His last name has been famously linked to political headlines through his older brother, Jared, the husband of Ivanka Trump.
Although some fans will hesitate to embrace Kushner because of his family’s allegiance to Donald Trump, they will see that Joshua is a true basketball lover in time.
Finding a Reason For the Move
What’s still strange about this story is the fact that Mark Walter relinquished his majority stake. As part of the new swap in ownership, Jeanie Buss will keep her front-office role that she retained in the deal with Walker.
Iger addressed the respect for Buss during his interview with Lakers reporter Khobi Price.
New Lakers co-owner Bob Iger to @capostsports on Jeanie Buss: "We have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she… https://t.co/q06Fwqx07c
— Khobi Price (@khobi_price) August 12, 2026
The timing of the sale is certainly interesting, given reports of a looming FBI investigation into Walter. Bloomberg reported on the probe on July 20, 2026. Seven days later, Bloombergreported that the Bureau seized Walter’s electronics from his private plane at Midway International Airport in September 2025. He is accused of diverting unreported billion-dollar loans into other business ventures rather than for his insurance companies.
There are reports that Walter owes at least $16 billion, and that he is using the $12 billion cash out on the sale of the Lakers to pay back the loans.
Bloomberg is reporting that Mark Walter has been in talks with investors to raise money to pay down the loans he is being investigated for. That's why he sold the Lakers for $12.5B — in a deal that came together in just 72 hours — less than two years after he purchased the team.
— Joe Pompliano (@JoePompliano) August 12, 2026
Lakers Preparing For the 2026-27 Season
Despite all the unexpected changes in team ownership, the Lakers must prepare for a pivotal third year under Luka Dončić. The 6x All-Star welcomed his new owners with open arms via X.
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” saidDončić. “I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise. I look forward to meeting Josh and Bob so we can get to work building something special in LA together.”
The front office is going all in on Dončić after revamping the entire roster with new signings. A media circus would be a massive distraction at a pivotal moment in the franchise’s trajectory. Hopefully this transfer of ownership and a separation from Walker avoids all disturbances by the time the season starts.
Fans have a lot to look forward to this year, including a cinematic Christmas Day matchup against LeBron James and the stacked Philadelphia 76ers.
There are still many questions that Lakers can only answer over time, such as whether Walter is guilty of potential loan fraud and disclosure failures involving billions of dollars. Hopefully now Lakers fans can look towards a bright future in LA.
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