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On August 12, 2026, ten months after he finalized the $10 billion deal to acquire the franchise from the hallowed and chaotic Buss family, Mark Walter sold the Los Angeles Lakers to a group led by Josh Kushner and Bob Iger at a valuation of just over $12 billion. His tenure at the helm is the shortest since the merger, by a factor of at least three: only Ted Stepien, who was possibly the most batshit decision-maker ever to own an NBA team, gets even close, and he lasted three years. This is without a doubt the most shocking sale of a franchise in my 25 years on this planet, and I’d guess that it’s probably the most shocking one anyone reading this can remember. This is the Lakers, the runners and gunners and star chasers and champions and the NBA’s crown jewel and the home of a million MVPs and the NBA’s biggest glamour market, and there are people in the world who might really saw off their own legs for a 20 percent chance at taking the reins. And this is also Mark Walter, the billionaire owner of the Dodgers who’s managed to bring a couple World Series to LA by paying just about every superstar imaginable and whose pockets previously seemed to run so deep as to appear endless, and whose organization has proven so successful that the upcoming MLB labor negotiations will in all likelihood take aim at him specifically.
Walter was supposed to bring some of that magic to the Lakers. Gone were supposed to be the days of Ramona Shelburne exposés and palace intrigue and the dropping-and-reading-of-tealeaves that had so long defined the Lakers after family patriarch Dr. Jerry Buss passed away. They were supposed to have money again, and they were supposed to be smart, and now Walter is gone. The timing of this is strange, and the facts of it make it look even stranger: the FBI investigation into some of his business dealings at Guggenheim, his seemingly desperate search for cash as his Delaware Life company attempts to pay down the $16 billion in loans that have made it the second-most exposed life insurance company in America, the involvement of a Kushner brother, and the recent reports that not only did Walter…
Source link : https://sports.yahoo.com/articles/nba-owners-don-t-win-120000537.html
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Publish date : 2026-08-25 12:00:00
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