Magic Johnson loves Lakers sale to Josh Kushner, Bob Iger, just like he loved sale to Mark Walter

The Los Angeles Lakers are changing ownership for the second time in roughly a year, and franchise legend Magic Johnson is once again expressing confidence in the team’s new owners.

Businessman Josh Kushner and former Disney CEO Bob Iger agreed Tuesday to purchase the Lakers from Mark Walter for $12.5 billion, a record price for a sports franchise. The transaction still requires approval from the NBA’s Board of Governors.

Johnson shared his reaction on X, formerly known as Twitter, offering a strong endorsement of Iger and Kushner.

“Laker fans, you couldn’t have two better owners. I’ve known Bob personally for over 40 years – he has always loved the Lakers and basketball and he will bring championships back to LA.”

Johnson’s support resembles his reaction when Walter agreed to purchase a controlling stake in the Lakers from the Buss family in June 2025. At the time, Johnson praised Jeanie Buss for choosing Walter and pointed to his success with the Los Angeles Dodgers as evidence that he could properly oversee one of the NBA’s most prominent franchises.

“Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy and tradition of winning – Mark Walter, my business partner and friend! Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!” Johnson wrote in June 2025.

Walter’s $10 billion acquisition received unanimous NBA approval in October 2025. His brief tenure featured significant organizational changes, including restructuring the front office and allowing lead executive Rob Pelinka to reshape the roster, which eventually included moving on from LeBron James.

Magic Johnson backs Lakers’ new ownership as Mark Walter reflects on departure

Walter addressed his departure in a statement to ESPN’s Ramona Shelburne.

“Owning the Los Angeles Lakers has been one of the great honors of my life – an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family,” Walter said. “I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.”

The sale also comes while Walter’s business empire faces federal scrutiny. Bloomberg reported that federal prosecutors and the Securities and Exchange Commission have investigated potential financial improprieties involving two insurance companies Walter controls and Guggenheim Partners. Delaware Life Insurance Co. and Clear Spring Life and Annuity Co. received grand jury subpoenas in February concerning disclosures surrounding private credit investments connected to other parts of Walter’s business empire. Federal agents also seized Walter’s phone and computer last year as part of a wider investigation. The investigations have not resulted in charges, and Walter’s companies have said they are cooperating.

Kushner, meanwhile, already has NBA ownership experience. He purchased a 2.5% stake in the Memphis Grizzlies in 2019 before selling it and acquiring a minority stake in the Miami Heat in 2024. He will need to divest his Heat interest as part of becoming a controlling Lakers owner.

Johnson’s latest endorsement gives the incoming ownership group the public backing of one of the most influential figures in Lakers history, just as Walter received when he took control a year earlier.

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