The Los Angeles Lakers have cycled through five ownership groups in three years, and Luka Dončić now finds himself at the center of that turbulence. Mark Walter took majority control from the Buss family in October 2025, then agreed last week to sell the franchise to Bob Iger and Josh Kushner for a record $12.5 billion, even as federal investigators examine alleged fraud tied to his lending business. Neither Iger nor Kushner has ever run a professional sports team, adding another layer of uncertainty for a roster still adjusting to Dončić’s arrival.
Continuity Matters More Than Star Power
Meanwhile, the league’s most successful franchises tend to share one trait: stability. The Oklahoma City Thunder, San Antonio Spurs and even the New York Knicks have built steadily under consistent leadership, whereas the Boston Celtics dismantled a championship roster once new owner Bill Chisholm confronted the salary cap’s second apron. Because that same restriction limits how much a single star can accomplish alone, the Lakers must build a deep, well-run organization around Dončić rather than lean on his talent alone. The Miami Heat’s approach, anchored by longtime owner Micky Arison and executive Pat Riley, illustrates how sustained leadership can smooth a franchise’s transition between eras.
Pelinka’s Mixed Record and a Ticking Clock
Despite the ownership upheaval, general manager Rob Pelinka kept his job this summer and used the team’s cap space to sign Austin Reaves, Walker Kessler, Quentin Grimes and Sandro Mamukelashvili to four-year deals worth a combined $427 million. Still, oddsmakers project fewer wins than last season, and the Buss family’s internal rift, with Jeanie Buss reportedly contesting the sale of the family’s remaining stake, adds further distraction. Dončić’s extension pays him $49.5 million this season and includes a $57.4 million player option for 2028-29, meaning he could test free agency in 2028. If the roster’s direction sours before then, the Lakers may have far less time than they think to prove their new era works.
