The basketball world was left stunned on Wednesday after news of the Los Angeles Lakers getting sold for $12.5 billion broke.
Less than a year after finalizing a $10 billion deal to buy the majority stake of the Lakers, Mark Walter agreed to flip the NBA franchise and sell to Josh Kushner and Bob Iger, as per ESPN’s Ramona Shelburne.
Walter also owns the Los Angeles Dodgers in the MLB and the Los Angeles Sparks in the WNBA.
Bill Shaikin and Maddie Lee of The Los Angeles Times reported that Walter has no plans to sell the Dodgers. But what about the Sparks?
Los Angeles Sparks’ Future Revealed
GettyMinority Los Angeles Dodgers owner Earvin ‘Magic’ Johnson Jr. and majority Los Angeles Dodgers owner Mark Walter attend Game 7 of the 2017 World Series between the Houston Astros and the Los Angeles Dodgers at Dodger Stadium on November 1, 2017 in Los Angeles, California.
According to Dan Woike of The Athletic, the abrupt sale of the Los Angeles Lakers won’t have an effect on Mark Walter’s ownership of the Los Angeles Sparks.
The WNBA franchise wasn’t part of the sale and will continue to operate under Sparks LA Sports, an investment group led by Walter, along with Magic Johnson and Todd Boehly, among others.
“Source tells me the Los Angeles Sparks are not a part of any sale,” Woike tweeted.
Sparks LA Sports has owned the Sparks since 2014. They have won one championship in 2016, led by Nneka Ogwumike and Candace Parker. They recently hit a rough patch, failing to make the playoffs in the last five seasons.
The Sparks are on their way to missing another postseason, with a current record of 12-20. They are sitting 10th in the WNBA standings and are seven games behind the final playoff spot. They have only won two of their last 10 games.
New Lakers Owners Release Statement
GettyCommissioner of the NBA Adam Silver, Joshua Kushner and CEO of Disney Bob Iger attend the 2025 US Open at USTA Billie Jean King National Tennis Center on September 2, 2025 in the Flushing neighborhood of the Queens borough of New York City.
In a joint statement, new Los Angeles Lakers owners Josh Kushner and Bob Iger were thrilled to get their hands on one of the greatest franchises in sports history.
“As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world,” Kushner and Iger said. “We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
Kushner is one of the founders of Thrive Capital, a venture capital firm linked to the controversial FIFA Forward Enterprise. He’s also the younger brother of Jared Kushner, the son-in-law of United States president Donald Trump. He will have to sell his five percent stake of the Miami Heat for the Lakers sale to push through.
Meanwhile, Bob Iger is famously known for being the CEO of Disney from 2005 to 2020 and from 2022 to 2026. Josh and Iger have a combined net worth of around $5.8 billion, with Josh taking up the majority of it at $5.2 billion.
Los Angeles Sparks’ Future Revealed After Lakers $12.5 Billion Sale