By Johnny Askounis/ info@eurohoops.net
The Los Angeles Lakers are entering a completely new era following a monumental shift in ownership that effectively brings a nearly half-century legacy to a close.
As revealed by ESPN senior NBA insider Shams Charania on Monday, the Buss family has decided to sell its remaining 17.8% ownership stake in the franchise to incoming majority owners Josh Kushner and Bob Iger.
This decision by the family trust, which includes siblings Jeanie, Jim, Johnny, Janie, Joey, and Jesse, received the necessary majority votes to execute the sale. The trustees invoked a tag-along provision tied to the broader transaction initiated by Mark Walter, which values the iconic sports franchise at a record-shattering $12.5 billion.
Beyond the staggering financial figures, this development carries profound implications for the organization’s long-standing leadership structure. Once the transaction is finalized, and despite initial plans, Jeanie Buss will no longer possess the required ownership percentage to remain the team’s governor, as league guidelines strictly mandate that controlling governors hold at least a 15% stake.
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
Reflecting, the Buss family delivered a statement to ESPN, expressing that while they will forever cherish and back the purple and gold, their faithful fanbase, and the broader metropolitan area, the time has come to depart with dignity.
“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.”
Ultimately, the deal marks the conclusion of a legendary 46-year tenure for the family, an era during which the franchise captured numerous championships and achieved unparalleled global acclaim.
Looking ahead, the incoming ownership group is poised to take full control of the franchise as soon as the deal receives official approval from the NBA Board of Governors, who are scheduled to convene in September. In anticipation of this new chapter, Slovenian superstar Luka Doncic has already opened lines of communication with the new owners ahead of the 2026-27 Regular Season.
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