Lakers set for another ownership change as Bob Iger joins bid
A reported multibillion dollar purchase could put Bob Iger and Josh Kushner in control of the Lakers.
The shocking sale of the Los Angeles Lakers drew headlines for its reported $12.5 billion valuation. But it’s also notable for another reason: Assuming the sale is approved by the NBA Board of Governors, Mark Walter’s tenure would rank among the shortest controlling ownership spans USA TODAY identified in the histories of current MLB, NBA, NFL and NHL franchises.
USA TODAY reviewed ownership histories across the four major U.S. leagues and found just four completed qualifying tenures shorter than Walter’s 289 days through Aug. 15. Historical ownership records — particularly from the early 20th century — can be incomplete or ambiguous, so the findings reflect the shortest qualifying tenures USA TODAY was able to identify and verify.
The shortest such spans USA TODAY uncovered were the back-to-back flips of the Cleveland Cavaliers in 1980.
In February that year, Lou Mitchell bought 155,000 shares in the Cavs from Nick Mileti for an announced $1.4 million. After 31 days, Mitchell sold about 275,000 shares to Joe Zingale for an estimated $2.4 million after realizing the difficulty of running the Cavs and another business 125 miles away. Then, 22 days later in April, Ted Stepien bought those shares from Zingale for $2 million to become the franchise’s controlling owner with a 37% stake in the Cavs. Stepien remained owner until 1983.
Following that pair is John P. Harris, controlling owner of the Boston Doves — the franchise now known as the Atlanta Braves — for 35 days in late 1910.
The next shortest span was William D. Cox, who owned the Philadelphia Phillies for 253 days from March 15, 1943, to Nov. 23, 1943.
Cox bought the club from a cash-strapped Gerald Nugent. His tenure was quite raucous and ended when commissioner Kenesaw Mountain Landis banned him from baseball for betting on the Phillies.
Walter’s current 289-day span comes next among the qualifying tenures USA TODAY identified. However, his sale is awaiting approval, which means his official ownership tenure could still extend.
Recent NBA ownership sales have varied widely in how long they took to receive league approval. Walter’s purchase of the Lakers last year, for instance, took 134 days between announcement of the sale and board approval.
However, the sale of the Dallas Mavericks in 2023 took just 28 days.
Such a range means that Walter’s final tenure length could end up anywhere from roughly 315 days to 420.
Should the sale not finalize until after Oct. 4, Walter will drop below William Hepburn Russell, who bought the Boston National League franchise from Harris and owned the club for 339 days until his death in November 1911.
If the transaction does not close until after Oct. 14, Walter would further drop below Art Williams, who owned the Tampa Bay Lightning for 349 days from July 1998 to June 1999.
There are also a few ownership swaps that resulted in short tenures with a specific team.
For instance, Robert Irsay briefly held the Los Angeles Rams before swapping franchises with Carroll Rosenbloom and taking control of the Baltimore Colts in 1972. USA TODAY excluded franchise swaps because they did not represent a standalone acquisition and subsequent transfer of controlling ownership.
Methodology: USA TODAY reviewed controlling ownership tenures of current MLB, NBA, NFL and NHL franchises. Tenures were measured from the effective acquisition date of controlling ownership to the effective transfer or end of control. Franchise swaps, inherited or interim ownership, group ownership changes in which control remained with an existing owner, and ownership periods outside of the four major leagues were excluded.