The Buss family’s nearly five-decade run as owners of the Los Angeles Lakers is officially coming to an end.
According to ESPN, the Buss family has agreed to sell its remaining 17.8% ownership stake in the franchise to new majority owners Josh Kushner and Bob Iger. The transaction follows a vote by the Buss Family Trust, with siblings Jeanie, Jim, Johnny, Janie, Joey, and Jesse Buss approving the sale after receiving the four votes required to trigger the tag-along provision tied to Mark Walter’s previous sale. The deal values the Lakers at $12.5 billion, the highest valuation in franchise history.
The move marks the official end of the Buss family’s ownership of one of the NBA’s most iconic franchises. Jerry Buss purchased the Lakers in 1979 and transformed the organization into one of the league’s premier dynasties, overseeing 11 NBA championships and helping establish the franchise as a global brand. Following Jerry Buss’ death in 2013, ownership was managed through the Buss Family Trust, with Jeanie Buss serving as the team’s governor.
Josh Kushner and Bob Iger now assume full control of the Lakers after their record-setting acquisition. The ownership transition signals another major chapter in the franchise’s history as Los Angeles enters a new era under new leadership.
