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

The Buss family trust, representing siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse, voted to sell its remaining 17.8% stake in the Los Angeles Lakers to the investment group headed by Bob Iger and Josh Kushner, ESPN reported Monday. The sale is part of the transaction that gave Iger and Kushner control of roughly 83% of the franchise after the earlier transfer of majority ownership from Mark Walter.

"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 Buss family said in a statement. "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 vote required a majority of four out of six trustees, which was achieved, allowing the trustees to enact the tag-along provision tied to Walter’s sale. Once the transaction closes, Jeanie Buss will no longer be required to hold an ownership percentage to remain the team’s governor.

Mark Walter had become the Lakers’ majority owner in June 2025 after purchasing the Buss family’s stake for a reported $10 billion. The earlier sale gave each of the six siblings about $500 million after taxes and allowed the family to retain the governor role through the remaining shares. Walter’s recent decision to sell his stake to Iger and Kushner follows a federal investigation involving Guggenheim Partners executives.

Josh Kushner is the founder and managing partner of venture-capital firm Thrive Capital and co-founder of Oscar Health, while Bob Iger is the former chief executive of Disney, known for acquisitions such as Marvel and Lucasfilm.