The Los Angeles Lakers have been sold for a record-breaking $12.5 billion to a group led by Josh Kushner and Bob Iger, according to reports. The sale, confirmed Wednesday morning, marks the largest valuation ever for a professional sports team and comes less than a year after Mark Walter acquired the franchise for $10 billion.
Fans reacted with a mix of astonishment and speculation on social media. Some noted the significant profit Walter appeared to make in a short period, with one X user posting a meme referencing a large financial gain. Others expressed concern that ticket prices for Lakers games could increase substantially following the sale.
A portion of the fan reaction also focused on Bob Iger, former CEO of Disney, and his past connections to the entertainment giant. Comments like "THE DISNEY LAKERS" and "Lakers are never beating the Mickey Mouse allegations now" reflected this sentiment.
Some fans theorized that Walter's decision to sell was influenced by the departure of basketball star LeBron James from Los Angeles to the Philadelphia 76ers. "Mark Walter decided to sell what he bought once he saw Bron left LA," one fan commented.
Walter, in a statement, expressed gratitude for his time as owner, calling it "one of the great honors of my life" and an "extraordinary investment." He added, "The Lakers belong to Los Angeles, and I have every confidence the best is still ahead."
Kushner and Iger were reportedly part of a group that had previously sought an expansion team in Las Vegas. The details of Walter's acquisition from the Buss family a year prior, and the subsequent resale at a higher valuation, have become a focal point of discussion among fans and observers.