![Lakers Logo [Los Angeles Lakers | Commons Wikimedia]](http://sportsbytes.com.ph/wp-content/uploads/2026/08/Los_Angeles_Lakers_logo.svg_.png){kind=logo}
The August 12 acquisition of the LA Lakers franchise by Josh Kushner and Bob Iger from Mark Walter for a record-breaking $12.5 billion pertains only to the majority shares of Walter.
Walter, who still owns the back-to-back major-league baseball champion LA Dodgers, became the Lakers’ majority owner on October 30, 2025, when a June deal with the Buss family was unanimously approved by the NBA Board of Governors.
The Buss family, which sold to Walter its controlling stake in the team a year ago for a then-record $10 billion, retains a minority share of the franchise at just over 15 percent.
Part of the deal was Jeanie Buss, the eldest daughter of the late Jerry Buss (who bought the Lakers franchise, hockey’s LA Kings and 13,000-acre estate in 1979 for $67.5 million and died in 2013), being retained as the Lakers’ representative on the NBA Board of Governors for five years.
The new ownership group will honor the agreement.
The deal between the 41-year-old Kushner and the 75-year-old Bob Iger and Walter took just three business days to consummate.
Walter, who earned $2.5 billion from the sale, may have been forced to give up his Lakers ownership as he is under federal investigation for alleged tax fraud by other companies tied to the 66-year-old billionaire, amounting to $16 billion.
Earlier, Kushner and Iger, who once claimed he was an LA Clippers fan because ticket prices were a lot cheaper, were reportedly interested in bringing an expansion franchise to Las Vegas. Las Vegas and Seattle are seeking an expansion franchise, but serious talks on any expansion may yet come in a year or two.
Los Angeles Lakers superstar LeBron James has scored in double-digits for 1,000 consecutive games, a record he set as the Read more
LeBron James notched his 1st triple-double of the 2021 season on New Year's Day as the Los Angeles Lakers topped Read more
Steph Curry scored a game-high 26 points which included a big triple late as the Golden State Warriors snapped the Read more
Officially, I became a professional sportswriter on June 6, 1981, when my first materials on basketball, particularly about the NBA, Read more
- Fast and Furious: Lakers Sold in Just Three Business Days - August 17, 2026
- Before PBA, there was MICAA - April 9, 2026
- Only Five Players Won NCAA and NBA Titles Back to Back, Why PH Has Yet to See One - March 28, 2026