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Second change of ownership in a year for the Los Angeles Lakers. On Wednesday, August 12, Bob Iger, former head of Disney, and Joshua Kushner, founder of the Thrive Capital fund, reached an agreement to buy the majority stake held by Mark Walter. The amount, approximately $12.5 billion, sets a record for an NBA franchise. Luka Doncic has already responded.
A historic record for a legendary franchise
The deal concerns the controlling stake that Mark Walter had held since October 2025.
The deal concerns the controlling stake that Mark Walter had held since October 2025. The businessman had himself bought the Buss family's stake in June 2025, at a then-record valuation of about $10 billion. Fourteen months later, he sells it for a significantly higher amount. The scope of the deal is limited to Walter's shares: minority shareholders are not affected.
ESPN, the Los Angeles Times, and the New York Post value the transaction at $12.5 billion, making it the largest sale ever concluded for an NBA team. The two buyers are not coming out of nowhere. Bob Iger led Disney for nearly twenty years. Joshua Kushner built Thrive Capital, one of the most prominent venture capital funds of his generation. According to Hoops Rumors, Iger is expected to become the partner most involved on a daily basis once the transaction is finalized. The change of control still needs approval from the league's board of governors.
Doncic, already two owners in eighteen months
Arriving in February 2025 in a trade with the Dallas Mavericks involving Anthony Davis, Luka Doncic has not had time to settle in permanently. He is already seeing a second owner come and go. The Slovenian point guard posted a message on X on Wednesday, welcoming the arrival of Iger and Kushner. "Being a Laker means everything to me, and I can't wait to get back on the court to bring a title to Los Angeles," he wrote.
The tone contrasts with the brutality of his departure from Dallas. Doncic focuses on the court rather than the front office. His statement, praised by management, was read as a pledge of loyalty to a team he joined only eighteen months ago. Now the face of the franchise, he awaits stability behind the scenes to focus on his goal: bringing the Larry O'Brien trophy back to Los Angeles.
Historical figures welcome the passing of the torch
The Slovenian's message did not go unnoticed. Jeanie Buss, who long ran the franchise on behalf of the family, reacted favorably to Doncic's statement. Magic Johnson, a club legend, also spoke out on this new chapter.
The dominant image is one of an accepted transition. The Buss family had owned the Lakers since 1979, when Jerry Buss acquired them. After more than four decades, the franchise is about to experience an unprecedented era, led by two figures from business and entertainment with no direct connection to the NBA until now.
It remains to be seen what this change will produce on the court. The roster, built around Doncic, should not move in the short term. The new owners' priority will first be to get the deal approved, then to reassure a locker room and a city already shaken by two changes of hands in eighteen months. The season will tell whether the instability in the front office leaves marks on the game.