Buss Family Sells Remaining Lakers Stake to Iger and Kushner

The Buss family has finalized the sale of their remaining 17.8% ownership stake in the Los Angeles Lakers to Bob Iger and Josh Kushner. This transaction follows the earlier sale of the majority stake in the team to Mark Walter, who is now selling it for a valuation of $12.5 billion.

Jeanie Buss, who has served as the governor of the Lakers, will no longer hold this position after the sale is completed, as NBA rules require a controlling owner to possess at least 15% of the franchise. This decision signifies a significant shift, as Iger is expected to take on a primary role in managing the team.

The Buss family's connection to the Lakers began in 1979 when Dr. Jerry Buss purchased the franchise. Under their ownership, the team achieved 11 championships, the highest in NBA history. Jeanie Buss took over governance after her father's passing, but the family will now step away from the organization they have been part of for nearly five decades.