Mark Walter has sold his majority equity in the Los Angeles Lakers to Joshua Kushner and Bob Iger, according to a statement released on August 12, 2026. The transaction values the NBA franchise at $12.5 billion, as confirmed by a person familiar with the matter who was not authorized to speak publicly about the terms of the sale [1]. Walter had owned the Lakers for less than a year, having acquired the team in October at a $10 billion valuation [1].
The sale comes amid reports that the Securities and Exchange Commission and U.S. prosecutors were investigating potential financial improprieties at two of Walter's insurance companies and at Guggenheim Partners, the financial firm he co-founded and leads. However, the sale announced only includes Walter's stake in the Lakers and does not affect his other sports holdings, such as the Los Angeles Dodgers, Chelsea FC, and the Los Angeles Sparks [1].
In a joint statement, Iger and Kushner expressed their honor at becoming stewards of the Lakers, emphasizing their respect for the leadership of Jerry and Jeanie Buss and their commitment to building on the team's legacy, competing at the highest level, and serving fans and the city of Los Angeles [1]. The two have a history of business collaboration, with Iger joining Thrive Capital, Kushner's venture capital firm, earlier in the year. Iger, who stepped down as CEO of Disney in 2026 after roughly 20 years, and Kushner, brother of Jared Kushner, had previously shown interest in acquiring an NBA expansion team in Las Vegas [1].
The Wall Street Journal reported last month that Walter, 66, suffered a stroke in 2024, raising concerns about his health and leadership within his business empire [1]. Iger and his wife, Willow Bay, also acquired Angel City Football Club for $250 million in 2024 [1].
CONCLUSION
The acquisition of the Los Angeles Lakers by Bob Iger and Joshua Kushner at a $12.5 billion valuation marks a record-setting transaction in professional sports. The deal underscores the franchise's significant market value and signals a new era of leadership, with Iger and Kushner pledging long-term commitment to the team's legacy and success.