Mark Walter's ownership of the Los Angeles Lakers, which lasted approximately a year, was marked by significant behind-the-scenes changes that contributed to what sources described as a "weird vibe" throughout the past season. Walter purchased the Lakers in June 2025 for $10 billion and officially became the team's owner on October 30, 2025. Less than a week prior to the report, Walter sold his stake in the team to former Walt Disney CEO Bob Iger and businessman Josh Kushner for $12.5 billion.
Walter's tenure began with expectations of revitalizing the franchise, mirroring his successful ownership of the Los Angeles Dodgers after his 2012 purchase. However, his time with the Lakers was instead defined by operational shifts within the organization.
During Walter's ownership, the Lakers organization underwent multiple rounds of layoffs. Concurrently, season ticket prices saw substantial increases, with some rising by more than 40 percent. These price hikes were reportedly linked, in part, to the addition of new courtside seating at Crypto.com Arena.
Basketball executives within the Lakers organization reportedly expressed frustration over the G League team's abrupt relocation from El Segundo to Coachella Valley. This move was perceived as distancing the team from its developmental players and coaches.
Just one month before Walter sold his stake, LeBron James announced his departure from the Lakers after eight seasons, later signing with the Philadelphia 76ers.
In a further significant change, the Buss family, who had been majority owners for nearly five decades, sold their remaining shares to Iger and Kushner. This transaction also resulted in Jeanie Buss no longer serving as the team's governor.