What happened: Mark Walter's agreement with Jeanie Buss called for her to serve at least five years after his 2025 purchase closed. Bob Iger said the incoming group approaches that arrangement with “enormous respect and appreciation,” while allowing that circumstances could change.
Why it matters: Buss would remain the NBA representative for the Los Angeles Lakers during a second control change in less than a year. The $12.5 billion ownership agreement still requires NBA approval.
By the numbers: Walter bought control at a $10 billion valuation in 2025; the new agreement values the franchise at $12.5 billion, a $2.5 billion or 25% increase.
What to watch: The NBA owners' vote and final ownership structure are the next checkpoints.