The Buss family is selling their remaining ownership stakes in the Lakers to the new majority owners.
The family, which has had ownership stakes in the Lakers since Dr. Jerry Buss purchased the franchise in 1979, is selling its remaining ownership stake in the franchise to businessman Josh Kushner and former The Walt Disney Company CEO Bob Iger.
“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,” the family said in a statement to ESPN. “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.”
Kushner and Iger have an agreement to buy the majority ownership of the Lakers from Mark Walter at a historic valuation of $12.5 billion.
The Buss family agreed to sell the majority ownership of the Lakers to Walter, who is also the majority owner of the Dodgers, in June 2025 in a deal that became official last October at a valuation of $10 billion, which at the time was the largest sale ever of a U.S. pro sports franchise.
This is a breaking news story. Check back for updates.
