In a shocking Wednesday announcement, Mark Walter has agreed to sell the Los Angeles Lakers for approximately $12.5 billion after acquiring a majority stake in the franchise from the Buss family in June of 2025 for roughly $10 billion.

“Owning the Los Angeles Lakers has been one of the great honors of my life — an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said via statement. “I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”

There are massive question marks around why Walter moved on from the franchise so quickly, but ultimately, the $12.5 billion from Bob Iger and Josh Kushner was too good to turn down. Many questioned whether United States President Donald Trump had any involvement in the deal, as Kushner is the brother of Jared Kushner, who serves in the Trump administration as the United States Special Envoy for Peace Missions and is married to the president’s daughter, Ivanka.

However, the White House provided Front Office Sports with an official statement on the matter, making it clear that Trump and his administration have “nothing to do with President Trump or his administration.”

White House spokesperson to @FOS: Lakers sale to Josh Kushner, the brother of Trump’s son-in-law, “has nothing to do with President Trump or his administration.”

— Amanda Christovich (@achristovichh) August 12, 2026

Star point guard Luka Doncic is gearing up for his first season as a Laker with LeBron James on the roster, as the NBA’s all-time leading scorer signed with the Philadelphia 76ers in free agency. That being said, his focus is squarely on returning the court, not the goings-ons of the Lakers’ brasss.

“Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA. I’ve gotten used to big changes over these last few years, but I know that no matter what, there is no limit to the potential of this iconic franchise,” Doncic posted to X. “I look forward to meeting Josh and Bob so we can get to work building something special in LA together.”

The sale will still have to formally ratified by the NBA’s board of governors before it can be approved.