What happened: Walter agreed to sell control of the Los Angeles Lakers to Joshua Kushner and Bob Iger less than a year after completing his purchase. The agreement values the franchise at $12.5 billion.
Why it matters: The new valuation is $2.5 billion above the one attached to Walter's acquisition, though his partial ownership means that difference is not equivalent to personal profit. The rapid turnover comes as federal prosecutors scrutinize affiliated private-credit investments involving two insurers in his financial empire.
By the numbers: The Lakers' valuation increased from $10 billion to $12.5 billion, a 25% rise. Walter's acquisition closed Oct. 30, 2025; the new agreement emerged 286 days later.
What to watch: The NBA Board of Governors must approve the transaction before it can close. The federal inquiry will proceed separately from the league's review.