Historic sale: Los Angeles Lakers change owners for 12 billion dollars
The NBA landscape is undergoing a historic transformation. Mark Walter, current owner of the Los Angeles Lakers, has reached a definitive agreement to transfer the Los Angeles franchise to businessmen Josh Kushner and Bob Iger. The transaction, valued at 12 billion dollars, stands as the most expensive sale in the history of American professional basketball.
This move comes just a year after Walter acquired the organization following an agreement with the Buss family, who had held ownership of the team since 1979. The record figure underscores the exponential growth in the market value of the Lakers, one of the most influential sports institutions globally.
The commitment of the new owners
After the agreement was made official, Kushner and Iger expressed their enthusiasm for taking on the legacy of one of the most recognized brands in the world of sports. Both businessmen highlighted their admiration for the previous management of the Buss family.
As lifelong NBA fans, we are deeply honored by the opportunity to become custodians of the Los Angeles Lakers. 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.
Josh Kushner and Bob Iger
Josh Kushner, known for his technology investments through Thrive Capital, will have the advice of Bob Iger, an executive with extensive experience in managing cultural assets and high-impact brands, to lead this new stage of the franchise.
Mark Walter’s legacy and the Buss era
Mark Walter, who controlled 21% of the franchise since 2021 before taking full control, said goodbye to the organization with a message of gratitude. The executive highlighted the emotional connection he has experienced with the city and the fans during his time as owner.
Owning the Los Angeles Lakers has been one of the great honors of my life. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me. The Lakers belong to Los Angeles and I have full confidence that the best is yet to come.
Mark Walter
It is worth remembering that the modern history of the Lakers was marked by Jerry Buss, who in 1979 acquired the team for 67.5 million dollars. After his passing in 2013, his daughter Jeanie Buss took command, leading a golden era in which the franchise achieved most of its 17 NBA championships, consolidating itself as the most successful team of the last decades.
Key points of the transition
- The transaction reaches 12 billion dollars, an absolute record in the NBA.
- Josh Kushner and Bob Iger assume custody of one of the most iconic franchises in world sports.
- A management cycle under the tutelage of Mark Walter, who valued the team’s cultural importance to Los Angeles, comes to a close.
- The Buss family, a fundamental piece in the team’s success since 1979, leaves a legacy of 11 rings obtained under their administration.
