Walter Says Kushner Call Prompted Lakers Sale

Walter said he had not planned to sell the Lakers, which he bought from the Buss family in June 2025 at a valuation of about $10 billion. He said a call from venture capitalist Josh Kushner in mid-August changed his mind, and the sale was agreed within about three days. Kushner and former Disney chief executive Bob Iger led the buying group.

The deal, valued at $12.5 billion, still requires NBA approval before ownership can formally transfer. Walter declined to discuss details of the transaction while that process continues.

The sale came amid a federal investigation involving several insurance companies under Walter’s control. He also sold his stake in English soccer club Chelsea in September, and has reportedly explored a sale of the WNBA’s Los Angeles Sparks. Walter declined to comment on the investigation, saying it remained ongoing.

He said he plans to retain the Dodgers, which he has controlled since 2012, and has not entertained offers for the baseball team. Walter pointed to the organization’s three World Series titles during his ownership and its relationship with fans as reasons for his commitment. He said he would keep the club “no matter what.”

Walter also owns or is involved with other sports properties, including a Professional Women’s Hockey League team and racing teams. He said he was not looking to sell those holdings unless a buyer could help improve a team.