The NBA, and Lakers fans alike, are still in shock after the legendary franchise was surprisingly sold for the second time in just 14 months. Almost no one expected this, including NBA leadership.
Following the news of the sale, numerous reactions and speculations emerged.
Why is Walter selling the franchise?
That's the $12,5 billion question, and the answer is becoming increasingly clear.
Money. As always – it's about money.
There are numerous theories circulating, including White House-linked conspiracy theories, about what led Mark Walter to sell the franchise just 14 months after purchasing it. However, the answer may be much simpler.
Walter is facing two federal investigations, as well as a probe by the U.S. Securities and Exchange Commission (SEC), related to potential fraud over the value of insurance companies he owns through Guggenheim Partners and TWG Global. As a result, he needed cash in the short term to reduce debt.
Then Joshua Kushner came along, and his venture capital firm Thrive had the cash. They were already considering an NBA franchise in the event of the league's expansion to Las Vegas, and were among the main investors interested in FIFA's now-defunct plan to sell commercial rights to the World Cup and other competitions.
Therefore, they were prepared to spend a large sum, and the deal was reached very quickly.
There's another interesting point. Mark Walter could save about $425 million in taxes if the Board of Governors approves the sale and the transaction is completed by November, according to tax calculations published by Sportico.
Would LeBron have stayed?
LeBron James left the Lakers this summer. Would LeBron have stayed in Los Angeles if the Lakers had different owners?
ESPN asked that question to a source close to James.
"Maybe. But it's hard to answer. The communication might have been better [with Iger and Kushner compared to Walter]. It was just a different relationship. But the basketball aspect was the most important, so maybe from that perspective I wouldn't have stayed."
Chris Paul could get a role
David Stern blocked Chris Paul's move to the Lakers in 2011, but could the future Hall of Famer be given a role in the franchise's leadership under new ownership?
This possibility is being mentioned due to the close relationship between Paul and new owner Bob Iger, writes ESPN.
"Multiple sources close to the NBA told ESPN that recently retired Chris Paul could be offered a role. Paul and Iger became close while the point guard was playing for the Clippers, and Iger was a season ticket holder."
The Lakers began the necessary restructuring of the team around Doncic this summer, but many believe this team is not ready to win titles, especially in the face of strong competition.
There will be a lot of pressure not only on Doncic, but also on Walker Kessler and Austin Reeves, who need to justify their huge new contracts.
The new owners now have to do the most important thing – win. Because in the Lakers, no matter who the owner is, the benchmark has always been the same: the championship title.
