Buss family agrees to sell remaining stake in LA Lakers to ownership group led by Josh Kushner and Bob Iger

The Buss family has agreed to sell its remaining 17.8 percent stake in the Los Angeles Lakers to an ownership group led by venture capitalist Josh Kushner and former Disney chief Bob Iger. The decision followed a vote among the six children of late patriarch Jerry Buss, with at least four of the siblings approving the sale, which triggers a tag‑along provision attached to a transaction valued at $12.5 billion. In an official statement, the 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,” the Buss family said. “We love the Lakers, Laker fans and will continue to be involved in Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.” The sale marks the end of Jeanie Buss’s tenure as the franchise’s governor, a role she has held since her father’s death. National Basketball Association bylaws require a team governor to retain at least a 15 percent equity interest; after the divestment she will no longer meet that threshold. Although a prior arrangement with Mark Walter would have allowed her to remain in the position through 2030, the family’s restructuring prompted an outright sale instead. This development follows a turbulent period of management changes and internal discord after Jerry Buss originally purchased the team in 1979. Walter had acquired a controlling interest at a $10 billion valuation but quickly agreed to transfer his bulk holdings to Kushner and Iger. Adding the Buss family’s remaining share will increase the Kushner‑Iger group’s stake in the Lakers to roughly 83 percent, pending formal approval from the league’s Board of Governors.