Mark Walter sells Lakers for $12.5 billion amid DOJ probe
Yahoo Sports • 1 min read • Latest: Aug 12, 2026, 4:54 PM
Last updated Aug 12, 2026
Mark Walter has sold the Los Angeles Lakers to Bob Iger and Joshua Kushner for $12.5 billion. The sale comes shortly after reports emerged that the U.S. Department of Justice is investigating Walter's business empire for potential fraud. The investigation focuses on large loans tied to entities associated with Walter. Walter's transaction marks a significant profit after buying the team for $10 billion just 14 months ago.
- •Mark Walter sold the Lakers for $12.5 billion.
- •Sale follows DOJ investigation into Walter's business practices.
- •Walter had purchased the Lakers 14 months prior for $10 billion.
- •Bob Iger and Joshua Kushner are the new owners of the franchise.
- •The DOJ is examining $16 billion in loans related to Walter's companies.
- 4:54 PMYahoo Sports — Lakers Owner Sells to Jared Kushner’s Brother as Trump DOJ Probes His Business Empire
"Guggenheim founder Mark Walter sold the Lakers for $12.5 billion, one month after the Wall Street Journal reported the Trump DOJ was probing his business empire.
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