When Mark Walter, majority owner of the Los Angeles Dodgers, bought the Los Angeles Lakers, there was a ton of excitement about what could come. Why would that not be the case? The Dodgers are the villains of MLB because of how great they are. Lakers fans wanted that kind of prestige.
If this franchise is going to reach those types of heights, it will not be under Walter's stewardship. ESPN's Ramona Shelburne stunned everyone on Wednesday morning by reporting the Lakers are being sold to American businessman Josh Kushner and Bob Iger. That came out of nowhere.
Walter purchased the Lakers from the Buss family for $10 billion, and he gets out of the basketball business by selling the franchise for a record-breaking $12.5 billion to Kushner and Iger. The soon-to-be former majority owner put out a statement to ESPN on the sale.
“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.”
Josh Kushner and Bob Iger will usher in yet another new Lakers era
In terms of Lakers history, Walter's ownership of the franchise will ultimately serve as nothing but a cliff note. It was brief, quick, and there is little to truly discuss.
In the fallout of the initial report from Shelburne, Kushner and Iger put out their own statement to ESPN on the stunning sale.
Statement to ESPN from Josh Kushner and Bob Iger:
— Ramona Shelburne (@ramonashelburne) August 12, 2026
“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… https://t.co/IMvaW0Iolr
The new majority owners of the Lakers emphasized being lifelong NBA fans to start, and shared their excitement to be the new stewards of one of the most iconic sports franchises in the world. The pair expressed their desire for a strong foundation, competing at the highest level, and serving everyone around Los Angeles who is connected to the team in some shape or form.
Lakers fans will hope there is truth to everything they are saying. They just got done talking themselves into why Walter would be the change that was needed. Now, the fanbase must embrace yet another new group claiming to be just that, too.
It will take some time for the shock and awe to wear off here. When it does, expectations will be firmly thrust upon Kushner and Iger to deliver success in the Luka Doncic era.
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