Mark Walter sells Lakers to Bob Iger and Josh Kushner for $12.5 billion

Mark Walter has sold the Los Angeles Lakers to former Disney CEO Bob Iger and venture capitalist Josh Kushner. The transaction reportedly closed in just a few days, coming as a surprise to many in the NBA ownership community. Walter only acquired a controlling stake in the team less than a year ago and had been making significant organizational changes since then. Sources speculate that a federal investigation into Walter's business practices could have influenced the decision to sell. The move awaits approval from the NBA’s Board of Governors, scheduled to meet next month.

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