Lakers Sold to Bob Iger and Josh Kushner for Record $12.5 Billion in 72 Hours

Mark Walter, who became the majority owner of the Los Angeles Lakers in October 2022, has sold the franchise to Bob Iger and Josh Kushner for a record-breaking $12.5 billion. The rapid nature of this transaction has taken many by surprise, as there were no prior indications that the team was up for sale.

In a recent interview, Iger revealed that the opportunity arose while he and Kushner were exploring the possibility of acquiring a new NBA franchise in Las Vegas. It was during this pursuit that they learned Walter might be interested in selling his stake in the Lakers. Iger noted that they quickly recognized the value and iconic status of the team, prompting them to act swiftly.

The entire negotiation process reportedly took place over a mere 72 hours, with Kushner reaching out to Walter on a Friday and finalizing the deal by the weekend. This astonishing turnaround has raised questions about the motivations behind Walter's decision to sell, especially given that he secured a $2.5 billion profit in less than a year.

While the sale marks a significant moment in NBA history, it also highlights the trend of treating historic franchises as investment opportunities rather than cherished sports teams. This marks the second ownership change for the Lakers in just over a year, leaving fans and analysts alike pondering the implications for the franchise's future.