The Los Angeles Lakers logo at midcourt during game one of the first round of the 2026 NBA Playoffs against the Houston Rockets at Crypto.com Arena.
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Los Angeles Lakers minority owner Dr. Patrick Soon-Shiong has no intention of selling his 4% stake in the franchise following Mark Walter's record $12.5 billion agreement to sell the team to Josh Kushner and former Disney CEO Bob Iger.
ESPN's Dave McMenamin reported Thursday that Soon-Shiong plans to remain involved with the Lakers under the incoming ownership group. Chuck “Tiger” Kenworthy, the Soon-Shiong family attorney, made their position clear.
“Dr. Patrick is absolutely not selling his minority share of the Lakers,” Kenworthy told ESPN. “Bob Iger and Josh Kushner are good friends, and we will be joining them as supportive, active and engaged partners once they close the transaction with Mr. Walter. We are extremely excited about the Lakers' future and look forward to many more championship years.”
Soon-Shiong, 74, acquired his stake in 2010 when he purchased 4% of the Lakers from franchise legend Magic Johnson. A surgeon and businessman known for his work in cancer research and treatment, Soon-Shiong has a net worth exceeding $15 billion, according to the Bloomberg Billionaires Index.
His decision to hold onto his stake comes as the remaining Buss family ownership has become a point of contention following the latest Lakers sale.
Soon-Shiong’s decision to retain his 4% stake could become particularly important as questions remain over how much of the Lakers the Buss family will own once the latest transaction is completed.
The six Buss siblings currently control a combined 17.8% of the franchise after Walter purchased the family's majority interest in 2025. Johnny, Jimmy, Janie, Joey and Jesse Buss have decided to participate in the new sale and cash out their remaining ownership at the $12.5 billion valuation, according to ESPN.
Patrick Soon-Shiong decision could impact Jeanie Buss' Lakers future
The five siblings addressed their decision in a statement provided to ESPN’s Shams Charania.
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“Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family's remaining stake, and we remain united in that decision. We intend to move forward thoughtfully, respectfully and through the appropriate process.”
Jeanie Buss has taken a different position. The Lakers’ acting governor is challenging her siblings’ attempt to sell, with attorney Adam Streisand pointing to a 2017 court ruling that he argues requires approval from co-trustees Jeanie, Janie and Joey Buss before the family’s shares can be sold.
The dispute could have significant implications for Jeanie’s long-term position with the organization. If the other five siblings successfully sell their interests, Jeanie would reportedly retain slightly less than 3% of the Lakers.
That creates another obstacle because NBA guidelines require the acting governor to own at least 15% of a franchise. The Athletic reported that Jeanie would be interested in increasing her ownership enough to reach that threshold, but doing so could require assistance from the incoming ownership group or members of her family.
Her options among the Lakers’ other minority shareholders are limited. Soon-Shiong has now made clear that his 4% stake is not available, while Ed Roski Jr. holds approximately another 3%.
Walter agreed to keep Jeanie as the Lakers’ governor for at least five years when he purchased the franchise. Iger has indicated that he plans to honor that agreement, although he also acknowledged circumstances could change.
For now, the ownership structure surrounding the Lakers remains unsettled. Soon-Shiong, however, has removed any uncertainty surrounding his own future with the franchise, with his family planning to remain actively involved alongside Kushner and Iger.