The Buss family has agreed to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to a group led by Bob Iger and Josh Kushner, according to ESPN as reported on Monday [1]. This transaction follows Mark Walter's recent and unexpected sale of his majority stake in the Lakers to the same group, which occurred less than a week prior [1]. The sale values the Lakers at $12.5 billion [1]. The Buss family trust, which includes siblings Jeanie, Jim, Johnny, Janie, Joey, and Jesse, required a majority vote (four of six) to approve the sale, ultimately resulting in all six siblings agreeing to the transaction [1].
The sale marks the end of the Buss family's direct ownership in the iconic NBA franchise. Jeanie Buss will no longer retain the required ownership percentage to remain the governor of the Lakers once the transaction is complete [1]. The family stated, "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" [1].
Previously, in June 2025, the Buss family sold the Lakers to Mark Walter for a then-record $10 billion, with each sibling receiving $500 million post-tax when the sale closed in October 2025 [1]. Some family members reportedly felt misled by Jeanie Buss during the process, characterizing the sale as rushed and feeling pressured to approve it [1].
Mark Walter's surprise sale of the Lakers comes amid a federal investigation into his activities as CEO of Guggenheim Partners, with reports that the FBI recently seized his phone and laptop, as well as those of a high-ranking Guggenheim Investments executive [1]. Some observers view the sale as a means for Walter to quickly liquify assets in light of potential legal issues [1]. The Financial Times also reported that Walter and his business partner, Todd Boehly, are seeking to sell their stakes in Chelsea Football Club [1].
With the addition of the Buss family shares, the Iger-Kushner group will control approximately 83% of the Lakers, up from the 65% they would have held with only Walter's shares [1]. Josh Kushner is the founder and managing partner of Thrive Capital and co-founder and vice-chairman of Oscar Health, while Bob Iger is the former CEO of Disney [1].
CONCLUSION
The sale of the Buss family's remaining Lakers stake to the Iger-Kushner group marks a significant ownership shift for the franchise, valuing the team at $12.5 billion. The transaction consolidates control under new leadership and ends the Buss family's decades-long association with the Lakers, amid ongoing legal scrutiny of former owner Mark Walter.