Inside the stunning 72-hour Lakers sale — and the uncertainty that still looms

Mark Walter agreed to sell the Los Angeles Lakers to a group led by Bob Iger and Josh Kushner for a record $12.5 billion valuation following rapid 72-hour negotiations. Walter had acquired the franchise from the Buss family just 10 months prior at a $10 billion valuation. The sudden transaction took place in August while Iger and Kushner were pivoting away from their pursuit of an NBA expansion franchise in Las Vegas.

The swift sale blindsided team governor Jeanie Buss and reignited familial tensions among the Buss siblings, who had previously clashed over Walter's initial purchase and subsequent front-office dismissals. Walter agreed to the deal amid federal investigations into his financial holdings, capitalizing on a roughly $4 billion gain while creating renewed uncertainty around the leadership and future direction of the franchise.