Buss Family Sells Remaining Ownership Stake In Lakers
Buss Family Sells Remaining Stake In Lakers
Published
It truly is a new era for the Los Angeles Lakers -- the Buss family has sold its remaining 17.8% stake in the team to Bob Iger and Josh Kushner.
According to Shams Charania, the Buss family trust, which consists of Jeanie, Jim, Johnny, Jamie, Joey and Jesse, recently received the necessary votes to push the sale through.
As a result of the transaction, Jeanie will no longer serve as governor of the Lakers, as at least 15-percent ownership is required to hold the position.
The Busses released a statement on the decision on Monday ... saying, "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."
The Buss fam initially sold the majority stake to Mark Walter for $10 billion in 2025 ... and just last week, he pocketed $2.5 billion by handing the keys over to Iger and Kushner.
Based on the valuation the Lakers sold for last week, the Buss family's stake would be worth $2.225 billion.
Dr. Jerry Buss bought the Lakers as part of a huge deal in May 1979 for $67.5 million ... and the family continued to have at least some percentage of the franchise until the completion of this transaction.
