Story perspectives

Lakers owner Mark Walter agrees $12.5B stake sale

8/13/2026

Summary

Walter Sells Lakers

Lakers owner Mark Walter agreed to sell his stake in the team to businessman Josh Kushner and former Disney CEO Bob Iger for $12.5 billion.
The deal values the Lakers at over $12 billion, above the $10 billion Walter paid 14 months earlier.
Walter’s insurance firms Delaware Life and Clear Spring are under federal and SEC investigations, prompting loan-paydown efforts.
Walter will retain ownership of the Los Angeles Dodgers while remaining its controlling owner.

Summary

Ohtani Signs

Ohtani signed a $700 million, 10-year deal with a key-man clause that activates if Walter or Friedman leave.
The clause is virtually unheard of in U.S. sports, with only one other MLB contract ever containing it.
Ohtani called the provision a “safety net” to ensure alignment with the franchise’s top leadership.
MLB owners are leveraging the clause to argue for a hard salary cap in the next CBA.

History

Historical Context

The Dodgers’ 2012 sale to Guggenheim Baseball Management for $2.15 billion—led by Mark Walter and Magic Johnson—set a record that spurred a wave of multimillion-dollar franchise deals, including the 2024 Lakers purchase and Shohei Ohtani’s $700 million contract, underscoring escalating valuations and innovative contract structures across MLB and the NBA in recent years.

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Walter Sells Lakers

Lakers owner Mark Walter agreed to sell his stake in the team to businessman Josh Kushner and former Disney CEO Bob Iger for $12.5 billion.
The deal values the Lakers at over $12 billion, above the $10 billion Walter paid 14 months earlier.
Walter’s insurance firms Delaware Life and Clear Spring are under federal and SEC investigations, prompting loan-paydown efforts.
Walter will retain ownership of the Los Angeles Dodgers while remaining its controlling owner.

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