The Los Angeles Lakers, one of the NBA’s most iconic franchises, just sold for a record $12.5 billion to Bob Iger and Josh Kushner, and honestly, the speed of this deal is absolutely wild. Mark Walter only officially became the majority owner last October, and now, barely a year later, he’s flipped the team for a jaw-dropping profit in a deal that completely shocked the league, because there wasn’t even a whisper of a rumor it was happening.
Seventy-Two Hours. That’s It.
You read that right. This entire record-setting transaction went down in a mere 72 hours. Bob Iger, one of the new owners, spilled the beans in an exclusive phone call with the California Post. He said they were chasing an expansion franchise in Vegas, dealing with all those apparent bidding wars, when someone just suggested that Mark Walter might be interested in selling his stake in the Lakers. Iger said they immediately thought it was smart to pursue, given the team’s value and iconic status. “The deal came together in three days. It’s that simple,” he declared. Can you believe it? Three days to buy an NBA team for $12.5 billion! Dan Woike, Sam Amick, and Mike Vorkunov from The Athletic even confirmed this mind-boggling timeline. One source, speaking anonymously, said Kushner reached out to Walter on a Friday, and the deal was wrapped up over the weekend. That’s an insane turnaround for anything, let alone a deal of this magnitude!
Flipping an Icon for Billions?
This whole thing raises so many questions. Mark Walter made a cool $2.5 billion profit in less than a year. Like, what? Didn’t he have to think about it for a while? It feels like the Lakers, with all their history and legacy, were just treated like some investment property, not an iconic franchise that deserved more care and consideration. Iger and Kushner clearly wanted an NBA team, and instead of battling it out for the Vegas expansion, they just bought a “ready-made” one. But to have new owners for the second time in barely more than a year? It’s just wild. You gotta wonder if this sets a new precedent for how quickly these huge sports franchises can get moved around.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Silver Screen and Roll.
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