The Buss family confirmed it will divest the remaining 17.8% ownership interest in the Los Angeles Lakers, handing the final shares to the new majority owners, Bob Iger and Josh Kushner. The decision ends the Buss era that began when Jerry Buss purchased the franchise in 1979.
Family statement and transition
In a statement to ESPN, the Buss family said, “We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction. We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”
Impact on team governance
Jeanie Buss, who has served as the Lakers’ governor since 2013, will relinquish that role. NBA rules require a governing owner to hold at least a 15% stake, a threshold the Buss family will no longer meet after the sale. Under a prior agreement with Mark Walter, Jeanie Buss would have remained governor through 2030, but the new ownership structure changes that arrangement.
Details of the new ownership group
Bob Iger is the former chief executive of The Walt Disney Company, while Josh Kushner is the younger brother of Jared Kushner, husband of former First Lady Ivanka Trump. The pair confirmed last week that they have reached an agreement to purchase the Lakers for a record $12.5 billion, the highest price ever paid for a sports franchise.
Background on recent Lakers transactions
The sale follows the 2025 transaction in which Dodgers owner Mark Walter acquired a majority stake in the Lakers for $10 billion, becoming the primary owner while the Buss family retained a minority share. That deal marked the first major shift in Lakers ownership since Jerry Buss bought the team for $67.5 million in 1979, a purchase that also included the NHL’s Kings and The Forum in Inglewood.
NBA approval pending
Like all ownership changes in the league, the transaction must be approved by the NBA Board of Governors. The board is scheduled to meet on September 15‑16 in New York to consider the sale.
Legacy of the Buss era
During the Buss family’s stewardship, the Lakers captured 11 NBA championships, the most recent coming in the pandemic‑shortened 2020 season. The family’s long‑standing presence has been a defining feature of Los Angeles sports culture.
The sale represents a significant moment for both the franchise and the broader Los Angeles community, as new owners assume control of one of the city’s most iconic institutions.
Original reporting: NBC4 Los Angeles — read the source article.
