Mark Walter, CEO of Guggenheim Partners, presents U.S. President Donald Trump with a jersey with Trump's surname and a number "47", during a reception for the reigning Major League Baseball (MLB) World Series champion Los Angeles Dodgers in the Rose Garden at the White House, Washington, D.C., U.S., July 23, 2026. REUTERS/Evelyn Hockstein
Mark Walter, the Dodgers owner under federal investigation for potential fraud, has agreed to sell the Los Angeles Lakers to Josh Kushner, brother of President Donald Trump's son-in-law, and Bob Iger, Disney's former CEO.
The sale is supposedly valued at over $12 billion.
The sale comes weeks after Walter visited the White House and just one year after he purchased the franchise from the Buss family for $10 billion.
Federal prosecutors, the FBI, and the Securities and Exchange Commission are examining Walter's financial firms for alleged improprieties tied to insurance subsidiaries, with the probe reportedly initiated by a whistleblower.
"So Mark Walter, who was at the White House recently, is under investigation by the Trump administration and just so happened to abruptly sell one of America's premier sports franchises to the brother of Trump's son in law," journalist Aaron Rupar wrote on X.
The NBA board of governors must approve the deal before it becomes final.
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