Former Los Angeles Lakers owner Mark Walter and Jeannie Buss.
Gary A. Vasquez-Imagn Images.
Before he sold the Los Angeles Lakers to Josh Kushner and Bob Iger, former owner Mark Walter faced legal troubles that led to the sale.
Federal prosecutors and the SEC began investigating some of his businesses, including two of his insurance companies and Guggenheim Partners LLC.
Previously, in February 2026, the insurers received grand jury subpoenas. That hasn't stopped prosecutors from questioning whether or not his companies “failed to disclose that certain private credit investments backed other parts of Walter’s business empire.”
The investigation is looking into whether or not the companies improperly characterized some of their private credit investments. The companies had previously conducted internal investigations after receiving subpoenas. They found “errors” in financial reporting in the internal investigations.
What's next for Mark Walter after selling the Lakers?
Los Angeles Dodgers president Stan Kasten (left), chairman and controlling owner Mark Walter (center) and manager Dave Roberts watch batting practice prior to the game against the New York Mets at Dodger Stadium.
Kirby Lee-Imagn Images
While Walter sold the Lakers, he will retain another iconic Los Angeles sports franchise, the Dodgers. He also owns or is a part-owner of other sports franchises like Chelsea F.C.
Walter hadn't been the owner of the Lakers for even a year before selling it, taking over in October 2025. His bid to buy the team was unanimously approved by the NBA.
He hands the keys to Iger and Kushner, who have been involved in the NBA's expansion to Las Vegas. Kushner, the youngest son of Charles Kushner, previously owned a 2.5% stake in the Memphis Grizzlies. He would later sell that to buy a small stake in the Miami Heat in 2024. However, now that he owns the Lakers, Kushner will have to sell his stake in the Heat if he wants to become a controlling owner.
Iger, meanwhile, has been a notable figure at Disney for decades. He has served as its president, chairman, and CEO at various times over the last two decades. He was recently succeeded by Josh D'Amaro in March 2026.