Stunned Lakers fans react to blockbuster $12.5B sale: ‘Insane!’

The monster sale of the Los Angeles Lakers flabbergasted fans and onlookers on Wednesday morning

Fans had mixed reactions to the sale, which comes just a year after Walter bought the team from the Buss family for $10 billion.

But Los Angeles Lakers legend Magic Johnson left little doubt about whether he approved of the sale.

“I want to congratulate my good friend Bob Iger and Josh Kushner on their purchase of the Los Angeles Lakers!” he wrote.

“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,” he added.

Some fans commented about the huge profit Walter appeared to rake in, while others fixated on Iger’s former Disney connections.

“Mark Walter after flipping the Lakers and making $2 billion in a year,” an X user wrote over a “Breaking Bad” meme of character Huell lying on a stack of money with his eyes closed.

“Brother owned the Lakers for 6 months and did all of nothing and still flipped them for 2 billion I’m sick,” another X poster wrote.

“Lakers are a dumpster fire! Sold again for the second time in a year! WOW!” a third wrote.

“The Lakers going from a $10B valuation to being sold for $12B+ basically a year later is insane to me! Damn. At some point we gotta stop calling these things basketball teams, yay the basketball is the product but the brand is the asset,” a fourth exclaimed.

Mark Walter sold the franchise to Josh Kushner and Bob Iger at a valuation of $12.5 billion, ESPN.com reported, the largest sum for any professional sports team ever.

One fan said he believes the sale could result in already-premium Lakers tickets jumping in price. “Lakers tickets are gonna cost so much money,” another fan wrote.

Fans believe Iger’s Disney connection, which ended after he stepped down as CEO in March, will influence the Lakers.

“THE DISNEY LAKERS,” one wrote.

“Lakers are never beating the Mickey Mouse allegations now,” another added.

“Guessing the Disney On Ice trip starts with Lakers/Clippers/Kings,” a third user wrote.

“LA Lakers about to get Disney-fied good luck yall,” another wrote.

“Bob Iger just bought the Lakers. Fans will probably need a Lightning Lane reservation, a Genie+ subscription, and a $29 PhotoPass to sit courtside while the team ‘reimagines the guest experience,’” a fifth fan observed.

Some fans believe Walter sold the Lakers because basketball legend LeBron James left town for the Philadelphia 76ers.

“Mark Walter decided to sell what he bought once he saw Bron left LA,” they wrote.

“Skip Bayless: OKAY SO THE MOMENT LEBRON JAMES LEAVES TOWN THE LAKERS ARE WORTH TWO BILLION DOLLARS MORE?????” another wrote.

“So the value of the Los Angeles Lakers went up 2 BILLION dollars in just one year, and the only substantial event that happened during that period of time is that LeBron James, the face of the NBA, LEFT the team?! How does that math work?!” a fan wrote.

“Owning the Lakers just long enough to run out LeBron is a pretty wild run,” a fourth wrote.

Walter didn’t say why he sold the team in an initial statement.

“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 in a statement to ESPN.

“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 purchase comes after Kushner and Iger had been part of the group hoping to land an expansion team in Las Vegas, per ESPN.

“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. We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said in a statement. “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.”

The sale will still need to be approved by the NBA’s board of governors. The group will meet next month to start the process, which could take weeks.

“Kushner/Iger weren’t sure they could get the Vegas expansion team (7.5b range), so they pivoted to buying Walter’s majority Lakers stake (around 78%) for like 9.5b. And got an iconic NBA franchise. Still — most shocking NBA sale in a long time. The Lakers got flipped!” sports personality Bill Simmons wrote on X.

“The Las Vegas Lakers are going to be pretty good with this new ownership,” another fan joked.

Iger and Kushner reportedly approached Walter about a sale Sunday, and the deal was announced on Wednesday after they decided it made more sense to buy the Lakers than a Las Vegas expansion team.

“Great reporting from @ramonashelburne, who says Iger and Kushner approached Walter with the idea of of the sale on Sunday and the deal came together within 72 hours! The NBA expansion number in Las Vegas has reached a point where it made more sense to buy the Lakers instead,” Arash Markazi wrote.

“The NBA expansion number in Las Vegas has reached a point where it made more sense to buy the Lakers instead.”

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