Mark Walter cashed out of the Los Angeles Lakers in a massive way this August, selling his majority share for a staggering $12.5 billion valuation. That’s a cool $2.5 billion more than he forked over last October when he originally bought into the storied franchise. Talk about a quick, massive return on investment.
The $2.5 Billion Offer Walter Couldn’t Ignore
Walter’s initial purchase of a majority stake from the Buss family last October was a shocker, given their decades-long ownership since 1979. But then, the news this August that he’d flipped it to entrepreneur Josh Kushner and former Walt Disney Company CEO Bob Iger? That was an even bigger bomb. Everyone was scratching their heads, especially with Walter himself reportedly dealing with a federal investigation and the Lakers’ own messy ownership situation where every Buss sibling, except governor Jeanie Buss, decided to sell their remaining minority shares.
But Walter says the reason for the quick turnaround was simple, as told to Jack Harris of the California Post: it was about the money, plain and simple. “We received an offer on the Lakers that was quite a good offer,” Walter insisted, “that we decided we’d pursue selling it.” He didn’t plan to sell until Kushner and Iger showed up with that offer this summer. Walter even added, “If he hadn’t called me the way he did, we wouldn’t be selling the Lakers, either.” Talk about a perfectly timed phone call netting a huge profit!
Walter’s Impact and a Continued Dodgers Commitment
Even in his brief stint as majority owner, Walter wasn’t sitting still with the Purple and Gold. The organization made some key front office hires, bringing in Rohan Ramadas as an assistant general manager for analytics and salary cap, Eric Amsler as a second assistant GM, and even former college basketball coach Tony Bennett as a draft adviser. He was clearly trying to beef up the team’s brain trust.
But if you’re wondering if Walter is about to start shedding his other major sports assets, don’t hold your breath. He’s made it crystal clear he has zero plans to sell the Los Angeles Dodgers anytime soon. Those Dodgers, by the way, have been on a roll, snatching World Series championships in 2020, 2024, and 2025. They did get swept in the National League Championship Series by the Milwaukee Brewers, who then went on to win the World Series against the Tampa Bay Rays, but that clearly hasn’t shaken Walter’s commitment to the blue side of LA.
So, Walter’s out, Kushner and Iger are in, and the Lakers are navigating a full-blown ownership saga with the remaining Buss siblings selling off their minority shares. The future of the Purple and Gold just got a whole lot more interesting, and you know everyone’s watching what happens next with this shake-up.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Yahoo Sports.
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