Los Angeles Dodgers owner Mark Walter is selling the Los Angeles Lakers for a groundbreaking $12.5 billion fee, per Ramona Shelbourne of ESPN.
Walter reportedly sold the team for $12.5 billion to former Disney CEO Bob Iger and venture capitalist Josh Kushner.
“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 and Jeanie Buss,” Kushner and Iger said in a statement. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
Shelbourne also reported Walter has no plans to sell his ownership stake in the Dodgers.
What Did Mark Walter Do as Lakers Owner?
Walter took over as the majority owner of the Lakers in October, purchasing a controlling stake in the team from the Buss family for $10 million, and added the Dodgers’ winning mindset to the team almost immediately.
The Lakers hired current Dodgers president of baseball operations Andrew Friedman and Dodgers special advisor Fahran Zaidi to advisory roles within the franchise in November, and also hired executive Lon Rosen from the Dodgers to be their president of business operations in February.
Whether or not those three will remain in the Lakers’ front office after Walter’s tenure isn’t clear, but the former owner seems content with whom he sold the team to.
“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,” Walter said in a statement. “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.”
Who Are the New Lakers Owners?
Iger and Kusher aren’t new to the basketball world, as they were both heavily involved in the push for an expansion team in Las Vegas. Shelbourne reports the two “pivoted to make an aggressive offer to buy the Lakers.”
Kusher previously owned ownership stakes in both the Memphis Grizzlies and Miami Heat before his acquisition of the Lakers, and Iger’s previous sporting experience comes from his ownership of Angel City FC in the National Women’s Soccer League.
