Lakers ownership swap triggers layoffs, ticket hikes and LeBron's exit

Mark Walter, who bought a controlling interest in the Los Angeles Lakers last year, announced the sale of that stake to Josh Kushner and Bob Iger, ending his short-lived ownership. During his time, the franchise made several business-side changes, including appointing Lon Rosen as president of business operations, raising season-ticket prices, moving the G League team to the Coachella Valley, and adding a second row of courtside seats.

In May, the organization carried out extensive layoffs, and on the basketball side the team exited the playoffs in the second round. The upheaval was capped by LeBron James leaving after eight seasons to join the Philadelphia 76ers, leading the Lakers to rebuild around Luka Doncic. While Walter’s record with the Los Angeles Dodgers includes multiple championships, his impact on the Lakers fell short of expectations, and the new owners inherit a franchise in transition.