Mark Walter’s time as the Los Angeles Lakers’ owner did not last long. A year after purchasing a controlling interest in the team, Walter will sell the Lakers to a group led by Josh Kushner and Bob Iger, according to ESPN’s Ramona Shelburne.
Kushner and Iger were reportedly involved in an expansion process to get an NBA team in Las Vegas, but pivoted to make a massive offer for the Lakers, per Shelburne.
Both Kushner and Iger confirmed the news, telling Shelburne they were “deeply honored for the opportunity.”
“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.”
Walter, who also owns the Los Angeles Dodgers, purchased the Lakers from the Buss family for a then-record $10 billion last June. Despite selling controlling interest in the team, Jeanie Buss remained the Lakers’ governor. It’s unclear if that will change with Kushner and Iger reportedly taking over.
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Despite selling the Lakers, Walter will reportedly keep the Dodgers, per ESPN.
Kushner is the brother of Jared Kushner, who is the son-in-law of U.S. President Donald Trump. The news marks the second time in less than a month that Josh has been involved in a major sports story. In late July, it was reported he was one of the private investors looking to purchase a stake in the World Cup.
That proposal was roundly criticized by soccer’s various confederations and member associations, leading to FIFA — and its under-siege president Gianni Infantino — scrapping it. With that proposal falling through, Kushner apparently found another avenue in the sports world in which he could spend his money.
This story will be updated.
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