The Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to Josh Kushner and Bob Iger, the franchise’s new majority owners. ESPN’s Shams Charania reported the news.
The Buss Family Trust, made up of Jeanie, Jim, Johnny, Janie, Joey and Jesse Buss, received the majority of votes needed to allow the trustees to execute the sale. Four of the six votes were required to trigger the tag-along provision tied to Mark Walter’s sale to Kushner and Iger.
The transaction values the Lakers at $12.5 billion and marks the Buss family’s exit from ownership of the franchise. Once the transaction is completed, Jeanie Buss will no longer have the required ownership percentage to remain governor. NBA guidelines require controlling owners and governors to own at least 15% of a franchise.
The family issued the following statement to ESPN:
“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.”
Breaking: The Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to new majority owners Josh Kushner and Bob Iger, sources tell ESPN.
The Buss family trust — composed of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse — received… pic.twitter.com/hPVqOvsuZ0
— Shams Charania (@ShamsCharania) August 17, 2026
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