Inside the 72-Hour Lakers Sale, and the Buss Family Fight Still Unsettled
ESPN details how Mark Walter agreed to sell the Lakers at a $12.5 billion valuation in 72 hours, and why a Buss family dispute and a Dec. 8 court date remain.
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Key takeaways
- ESPN reports Mark Walter agreed to sell his Lakers stake to Josh Kushner and Bob Iger at a $12.5 billion valuation, 72 hours after the idea was first raised.
- Five Buss siblings voted to sell the family's remaining 17.8%; Jeanie Buss did not, and her suit challenges that vote.
- A court date is set for Dec. 8 if there is no settlement, and NBA approval is expected by year-end or early next year, per ESPN.
- Luka Doncic would have his fifth team owner across two franchises in three years.
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How the Lakers Were Sold Again in 72 Hours
ESPN reports that Mark Walter, who bought control of the Lakers at a $10 billion valuation last year, agreed on Aug. 11 to sell to a group led by Josh Kushner and Bob Iger at $12.5 billion. By ESPN's account, the idea was first put to Walter about 72 hours earlier, and Kushner and Iger had been bidding for a Las Vegas expansion team before pivoting.
ESPN says Walter made nearly $4 billion on the stake he bought at a $5 billion valuation in 2021, and that he has been under federal investigation; his company says regulatory concerns involve misreported affiliated transactions and calls claims it is looting insurers false.
I've gotten used to big changes over these last few years.
The Buss Family Dispute and the Dec. 8 Court Date
The Buss family still owns 17.8% of the team. ESPN reports that Johnny, Jim, Janie, Joey and Jesse Buss voted to sell it using go-along rights, while Jeanie Buss, who controls the trust, did not, and her lawyer disputes the vote under a 2017 court order. NBA rules require a controlling owner to hold at least 15%.
Each sibling would make an additional $371 million if the family sells its shares, per ESPN. A court date is set for Dec. 8 if no settlement is reached, and league approval is expected by the end of the year or early next year.
Our Read: What the Lakers Sale Says About NBA Franchise Values
This is our reading of the reporting, not a claim any source makes.
- The price is the headline. A 25% jump in 14 months suggests buyers are valuing the brand and scarcity, not near-term profit.
- Control is the open question. Jeanie Buss was promised five years in charge. If the siblings prevail, that promise may be worth little, which matters to anyone assuming stable basketball leadership.
- Ownership churn has a human cost. Doncic's trade followed an ownership change at Dallas, and ESPN notes a fifth owner in three years. We would not read that as a basketball verdict, only as risk.
- Evidence cuts both ways. Iger and Kushner say they will honor Buss's role, but also that if something changes, it changes.
What to Watch in the Lakers Ownership Case
- Any settlement before the Dec. 8 court date.
- Whether the NBA board approves the sale by year-end.
- Whether Jeanie Buss keeps a role under the new owners.
- Whether the Sparks sale talks ESPN mentions go anywhere.
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