What happened: Mark Walter agreed to sell the Los Angeles Lakers to Bob Iger and Joshua Kushner only 14 months after acquiring control at a $10 billion valuation. The buyers pivoted from pursuing an NBA expansion franchise in Las Vegas. NBA owners must approve the transaction before it closes.
Why it matters: The change would give Luka Dončić his second new ownership group since the Dallas Mavericks traded him in February 2025. Dončić helped shape this offseason’s roster overhaul, including the acquisition of Walker Kessler, ahead of the 2026-27 season.
By the numbers: The Lakers’ valuation rose $2.5 billion, or 25%, from $10 billion to $12.5 billion in 14 months. Dončić signed a three-year, $165 million extension in August 2025 that includes a player option for 2028-29.
What to watch: The approval process and the prospective owners’ basketball operations structure are the next markers. Iger has already spoken with coach JJ Redick.