Historic Deal: Buss Family Sells Remaining Lakers Stake to Bob Iger and Josh Kushner

In a move that has sent shockwaves throughout the NBA community, the Buss family has sold their remaining stake in the Los Angeles Lakers to a group led by former Disney CEO Bob Iger and Josh Kushner. The deal, reportedly worth $12.5 billion, sees the duo take control of the team, with Iger and Kushner now owning an impressive 83% of the franchise.

This significant increase in ownership marks a 17.8% rise over the 65% stake the duo held last week, following their initial purchase from Mark Walter. The Buss family, who have been instrumental in the Lakers’ success over the years, have chosen to exit the team, citing a desire to ‘move on and exit gracefully while we still can.’

The Buss family’s decision to sell their remaining stake comes after a long and storied history with the team. Dr. Jerry Buss, the patriarch of the family, purchased the Lakers in 1979, bringing a touch of Tinseltown magic to the NBA. Under the Buss family’s leadership, the Lakers went on to win 11 NBA championships, cementing their status as one of the most successful franchises in the league.

Former Disney CEO Bob Iger, who has been instrumental in shaping the Disney empire, has expressed his respect and admiration for the Buss family and their contributions to the Lakers franchise. In a statement, Iger said, ‘We have enormous respect and appreciation for Jeanie, her father, and what they’ve contributed to this franchise. We have every intention to honor the agreement that was made between Mark and Jeanie.’

As the new owners of the Lakers, Iger and Kushner will be tasked with navigating the complexities of NBA ownership, while also ensuring the continued success of the team. The duo’s commitment to honoring the agreement made with Jeanie Buss and her father is a promising sign for Lakers fans, who are eager to see the team continue to thrive.

With the Buss family’s departure from the team, the Lakers will undoubtedly undergo significant changes. However, with Iger and Kushner at the helm, fans can rest assured that the team will continue to be a force to be reckoned with in the NBA.