When an NBA franchise sells, it draws copious attention from both the media and fans. Questions abound about whether, or when, the culture and, more importantly, the roster and management set will change. New owners love to leave their own fingerprint on their newest, and probably latest, purchase.
As a result, a storied franchise like the Los Angeles Lakers changing hands will captivate the basketball world. However, when the franchise changes hands twice within a short period, ultimately ending up with a new owner, people will begin to take notice and ask questions. An NBA insider provides insight as to why the Lakers are now the property of a new ownership group.
NBA Insider Ramona Shelburne Discusses Why the Lakers Were Sold Again
News broke about the Lakers being sold. Mark Walter, who bought the team last year from Jeanie Buss, sold the franchise to Josh Kushner and former Disney executive Bob Iger for $12.5 billion, establishing a record. Shelburne discusses how the deal unfolded.
“They called Mark Walter on Sunday and asked if he would consider it. He had a day or two to decide… I don’t think he was looking to sell, but it was something he had to look at because of how much money was involved.”@ramonashelburne on the ‘earth-shattering’ offer with… pic.twitter.com/NxUZbcHywM
— ESPN Los Angeles (@ESPNLosAngeles) August 12, 2026
” Josh Kushner and Bob Iger were part of a group that was bidding on an expansion franchise in Las Vegas.” Shelburne started off. She explained that the bidding for the expansion team grew astronomically, and Kushner started a company that handles legacy brands, already established companies with a history. Shelburne detailed the following steps that led to the sale.
“They called Mark Walter on Sunday and asked if he would consider it. He had a day or two to decide… I don’t think he was looking to sell, but it was something he had to look at because of how much money was involved.”
The offer left the veteran reporter stunned.
“This is an absolutely earth-shattering number”
Without any definitive word from Walter’s camp, speculation arose as to why. If you look at recent circumstances, they could provide a solution. Currently, Walter, who also owns the Los Angeles Dodgers, is under federal investigation.
Prosecutors in New York are looking into potential financial issues at Delaware Life and Clear Spring Life and Annuity, two insurance firms under Walter’s control. Whether that played a role in the quick sale remains to be seen. Billion-dollar deals do not just unfold in less than a week without any news.
Meanwhile, on the court, how this affects the Lakers is also unknown. Right now, Rob Pelinka is still the general manager, and JJ Redick is the head coach. The team lost LeBron James to the Philadelphia 76ers via free agency. On the positive side, the franchise extended Austin Reaves’ contract and traded for center Walker Kessler.
