Buss family sells Lakers stake
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
Buss family sells 17.8% Lakers stake to Iger and Kushner at $12.5 billion valuation.
Jeanie Buss contests sale, calling siblings' vote void, leaving team's future uncertain.
Background
The Buss family has owned the Lakers since Jerry Buss bought the franchise in 1979. In June 2025, they sold majority control to Mark Walter at a $10 billion valuation, with each sibling receiving about $500 million. Now, the remaining 17.8% stake is being sold to Bob Iger and Joshua Kushner, who recently agreed to buy Walter's majority stake for a record $12.5 billion valuation. This sale would end the Buss family's 47-year reign as owners.
How it unfolded
- Jun 2025Buss family agrees to sell majority stake to Mark Walter at $10 billion valuation, a then-record for a U.S. pro sports franchise.
- Oct 2025NBA Board of Governors approves the sale to Walter; each Buss sibling takes home about $500 million.
- Aug 17, 2026ESPN reports Buss family selling remaining 17.8% stake to Iger and Kushner; family statement says they decided to sell and exit gracefully.
- Aug 17, 2026Jeanie Buss's lawyer sends letter to siblings' law firms, stating she has not agreed to sell and any vote to sell would be void.
- Aug 18, 2026Other five Buss siblings issue statement saying they remain united in the decision to sell.
Who’s saying what
- Buss family
- We have decided as a family to sell the remaining shares to the Bob Iger group; it is time to move on and exit gracefully.
- Jeanie Buss
- Jeanie has not agreed to sell, and any vote suggesting the family is selling would be void, constituting a breach of trust.
- Analysts
- The sale would be the richest in professional sports history, but the dispute between siblings could complicate the transaction.
Still unverified
Reports that Jeanie Buss was out as governor and that siblings felt pressured to vote 'yes' in the earlier sale to Walter, based on anonymous sources.