Mark Walter’s incredibly short Lakers ownership raises an obvious question

Mark Walter’s run as controlling owner of the Lakers apparently will be remembered for two things:

1). It was brief; and 2.) It was incredibly profitable.

Walter agreed to purchase the Lakers from the Buss family in June 2025 at a valuation of approximately $10 billion. The NBA unanimously approved the sale in October, officially making Walter the controlling owner of one of the most recognizable franchises in sports.

Now he’s already headed for the exit.

Josh Kushner and Bob Iger have agreed to purchase the Lakers at a valuation of $12.5 billion, according to multiple reports. The deal still requires NBA approval.

So, yes, Walter bought into the Lakers at a $10 billion valuation and, less than a year after the transaction actually closed, found a buyer at $12.5 billion.

Not bad work if you can get it.

But the timing is going to invite questions, particularly given everything else surrounding Walter’s business empire.

Bloomberg reported last month that federal agents seized Walter’s phone and laptop in September 2025 while executing a court-authorized search warrant aboard a private plane at Chicago Midway International Airport.

The seizure came as federal prosecutors investigated potential financial improprieties involving two insurance companies controlled by Walter and Guggenheim Partners, where Walter serves as CEO.

The Los Angeles Times subsequently reported that investigators have been examining $16 billion in loans involving Walter-controlled insurers and companies connected to Walter or his TWG Global holding company.

Walter has not been charged with a crime, and investigations don’t necessarily result in charges. TWG has said it is cooperating with authorities and expressed confidence that the matters will be resolved favorably.

All of that needs to be said. This does, too: It’s one heck of a timeline.

Walter agrees to buy the Lakers in June 2025. Federal agents seize his phone and laptop three months later. The NBA approves his Lakers purchase in October. Details of the federal investigation become public this summer.

Then, in August, Walter agrees to sell the Lakers at a valuation $2.5 billion higher than the one attached to his purchase.

Maybe there is absolutely nothing more to it than a businessman receiving an offer he couldn’t refuse.

In fact, that may very well be the explanation.

But when someone buys the Lakers, becomes controlling owner, and is preparing to sell them again before he’s even made it through a full NBA season, it’s reasonable to wonder why.

Especially when $12.5 billion is involved.