Rumors are swirling after Dodgers owner Mark Walter, under federal investigation for potential fraud, reportedly agreed to sell the Lakers to President Donald Trump's son-in-law's brother after a recent White House visit.
Walter reportedly sold his controlling stake to Jared Kushner's brother Josh and former Disney CEO Bob Iger for more than $12 billion just weeks after he visited the White House and only a year after the Buss family sold the storied franchise to Walter, multiple reports show. The agreement still requires approval from the NBA's board of governors before it becomes final, and Walter would remain the lead owner of the MLB's Dodgers, the WNBA's Los Angeles Sparks and other teams.
Walter's brief tenure has been overshadowed by legal scrutiny, as federal prosecutors, the FBI and the Securities and Exchange Commission have examined his financial firms over potential improprieties tied to insurance subsidiaries. Reports say the probe began with a whistleblower.
Walter has not been charged with any crime, and neither he nor his companies have publicly addressed the investigation. It remains unclear whether the probe has any connection to the Lakers sale.
But that uncertainty hasn't stopped speculation. Several journalists flagged the timing as potentially telling.
"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," independent journalist Aaron Rupar wrote on X.
Joe Pompliano, who authors a newsletter about sports and business, added on X: "I wouldn't say I am a conspiracy theorist, but it does seem weird that a guy who owns multiple sports teams and was in the middle of rebuilding the Lakers entire business operation would sell the team for a 20% gain in 2 years at the same time he is being investigated for fraud."
Joon Lee, an independent sports journalist who formerly reported for ESPN, posited the probe might have prompted the sale.
"Dodgers owner Mark Walter bought the Lakers a year ago for $10B and sells the team for $12B. Walter is reportedly under federal investigation for loan fraud, so this can't be a good sign for how all of that is going," Lee wrote on X.
ESPN senior writer Ramona Shelburne described why the move from Kushner and Iger's group was a surprise to the sports world.
"The Los Angeles Lakers are being sold to American businessman Josh Kushner and Bob Iger for a record breaking price over $12 billion, multiple sources told ESPN," Shelburne wrote on X.
"Kushner and Iger were involved in the expansion process in Las Vegas, but a stunning turn, they pivoted to make an aggressive offer to buy the Lakers from Mark Walter, who had purchased a controlling interest in the team from the Buss family last year," Shelburne added.
For their part, the buyers cast the deal in reverential terms. In a joint statement, Kushner and Iger said they were "deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world," vowing to "compete at the highest level."
Walter, in his own statement, called owning the team "one of the great honors of my life — an extraordinary investment," adding: "The Lakers belong to Los Angeles, and I have every confidence the best is still ahead."