Buss Family Sells Final Lakers Stake, Marking the End of an Iconic Era

Buss Family Sells Final Lakers Stake, Marking the End of an Iconic Era

The Buss family has officially sold its remaining 17.8% share in the Los Angeles Lakers to Josh Kushner and Bob Iger at a valuation of $12.5 billion, as reported by ESPN. The family expressed their decision, stating, "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." This sale comes shortly after Kushner and Iger acquired control of the Lakers from Mark Walter, who bought the franchise in 2025 for $10 billion but is currently under federal investigation for potential financial fraud. The Buss family's involvement with the Lakers spans nearly five decades, beginning with Dr. Jerry Buss becoming the owner in May 1979. During this period, the team has celebrated 11 NBA championships. Previously, Jeanie Buss retained her position as team governor after the initial sale to Walter, which allowed her to maintain a leading role despite the family's reduced stake. However, now that the Buss family no longer holds the requisite 15% ownership, Jeanie's governorship is in jeopardy, paving the way for either Kushner or Iger to assume leadership. The family trust mandates that four out of the six Buss siblings must agree to any sale. It appears that all siblings, except Jeanie, have opted to sell their shares, valuing the 17.8% stake at approximately $2.25 billion. With the departure of both Walter and the Buss family, the future direction of the Lakers remains uncertain, marking a significant transition for the franchise and its fans.

Source: CBS Sports - 2026-08-17