Buss family votes to sell remaining Lakers stake to Iger and Kushner

The Buss family has voted to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to Bob Iger and Josh Kushner, according to multiple sources. The decision, made Monday by the six beneficiaries of the Buss family trust, concludes the family's nearly half-century involvement in the ownership of the franchise.

The family trust required at least four of six votes to approve the intent to sell. According to reporting, Jeanie Buss did not vote in favor of the sale, while her five siblings—Jim, Johnny, Jamie, Joey, and Jesse—voted to proceed.

In a statement released Monday, the Buss family said: "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 sale follows last week's agreement by majority owner Mark Walter to sell his stake to Iger and Kushner in a transaction that valued the Lakers at $12.5 billion. Walter had acquired the majority stake from the Buss family in 2025 for $10 billion. With the latest sale, Iger and Kushner will own approximately 83% of the franchise once the transaction is finalized.

As a result of the sale, Jeanie Buss will no longer serve as governor of the Lakers. The position requires at least 15% ownership, which the family will no longer hold after the transaction closes. Jeanie Buss has served as governor since the death of her father, Jerry Buss, the franchise's longtime owner.

The Lakers have won 17 NBA championships during the Buss family's tenure as owners. The family's involvement with the franchise spanned 47 years.

Walter, who is the CEO of Guggenheim Partners and TWG Global, will remain as majority owner of the Lakers for less than a year. The sale of the Lakers came amid a federal investigation into Walter and his business practices. The FBI seized Walter's phone and laptop, as well as a top Guggenheim Investments executive, according to recent reports. Speculation emerged that the Lakers sale was intended to liquify assets amid potential legal troubles.

Kushner and Iger are acquiring approximately 65% of the Lakers in their deal with Walter. The trustees of the Buss family trust will now execute the sale of the remaining shares.