The Los Angeles Lakers are reportedly changing ownership for the second time in just ten months, with a staggering sale price of $12.5 billion, which would set a record for any North American sports team, pending NBA approval. The new owners, Josh Kushner and Bob Iger, are not traditional fans but venture capitalists with deep ties to the political elite, raising concerns about the franchise’s future as a community asset.

Mark Walter, who acquired the team from the Buss family last October for around $10 billion, is poised to profit by nearly $2 billion in less than a year. This quick turnover contrasts sharply with the legacy of previous owners who treated their teams as heirlooms. Walter’s financial dealings are under scrutiny, as investigations into his insurance companies reveal potential misconduct involving nearly $16 billion in loans.

Kushner, known for his successful investment firm Thrive Capital, has made significant bets in tech and entertainment, while Iger, the former Disney CEO, has recently taken control of Angel City FC in the NWSL. Their acquisition of the Lakers signals a shift where sports franchises are viewed as financial instruments rather than cherished community entities.

The timing of the sale coincides with failed negotiations involving FIFA and raises ethical questions, especially given Kushner's family background and connections to former President Donald Trump. Despite being a registered Democrat, Kushner’s involvement in such high-stakes deals highlights a troubling concentration of power in American society.

As the Lakers transition into the hands of these billionaires, the narrative underscores a growing disconnect between sports teams and their fanbases, transforming beloved franchises into mere assets for the ultra-wealthy.