Add The California Post on Google The Lakers’ path was certain after Mark Walter agreed to buy the Lakers at a valuation of $10 billion in June 2025.
They were going to be built in the likeness of the Dodgers, who have won three World Series championships since Walter and Guggenheim Baseball Management took over ownership in 2012.
But just 14 months later, the Lakers have been sold once again to Bob Iger and Joshua Kushner at a valuation of $12.5 billion.
You probably have questions. Here’s what we know.
Apparently with whiplash-inducing speed. Iger and Kushner were pursuing a majority stake in a potential NBA expansion team in Las Vegas through Thrive Eternal, which is the permanent capital holding company launched by Thrive Capital, which Kushner founded.
The decision to pivot and buy the Lakers happened over a three-day period, the California Post learned in an exclusive interview with Iger.
“As you may have read or heard, we were involved in pursuing the new franchise in Vegas,” Iger told Khobi Price of the California Post.
“And while that happened, it was suggested to us that maybe Mark Walter would be interested in selling his stake in the Lakers. And we immediately decided that given the value of the franchise and the iconic nature of the team that we would be really smart to pursue it. And we did.”
“The deal came together in three days. It’s that simple.”
Was it because he could make a $2.5 billion profit?
Did it have anything to do with the fact that insurance companies he owned are being investigated by the U.S. Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission?
According to Bloomberg, Walter’s holding company, TWG Global, was seeking fresh capital to reduce loans held by those insurance companies .
What we do know is that Walter is not expected to sell the Dodgers, which his ownership group purchased for $2.15 billion in 2012.
Doncic wanted to retire with the Dallas Mavericks before he was stunningly traded to the Lakers in February 2025 in what was widely considered one of the most surprising deals in sports history. Since then, he has undergone two ownership changes.
It has been dizzying for the 27-year-old, who finished fourth in MVP voting last season.
Doncic was heavily involved with the revamping of the Lakers’ roster this offseason, including the acquisition of center Walker Kessler. Doncic, who signed a three-year, $165 million maximum contract extension with the Lakers in August 2025, has a player option for the 2028-2029 season.
It’s no secret that he will be paying close attention to how the team is run next season. Doncic weighed in on the massive news on X on Wednesday.
“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA,” Doncic wrote. “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.”
Iger has already spoken with Lakers coach JJ Redick, whom he has known for a long time. Iger was a season ticket holder when Redick played for the LA Clippers. He has even made several appearances on Redick’s former podcast, “The Old Man and the Three.” They both live in the Brentwood area of Los Angeles.
As for Lakers president of basketball operations and general manager Rob Pelinka, it’s unclear if Iger has spoken to him yet. Pelinka has been with the Lakers for nine years after joining the franchise as general manager in 2017.
Jeanie Buss had an agreement with previous ownership to remain as governor for four more years. Will that agreement remain intact under new ownership?
When the Buss family sold the Lakers to Walter, there was an agreement for her to remain the team’s governor for at least five years. Iger intends to honor that arrangement.
“We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise,” Iger told the California Post.
“And 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 represents in the organization.”
Kushner became a minority owner of the Grizzlies in 2019 before selling his share to become a minority owner of the Heat.
He will have to sell his share in the Heat before taking over the Lakers.
