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Reports: Buss family sells remaining stake in Lakers to Bob Iger and Josh Kushner

Jeanie Buss is pictured during the statue unveiling for former Lakers coach Pat Riley in Star Plaza in front of Crypto.com Arena in Los Angeles on Sunday, February 22, 2026. (Photo by Keith Birmingham, Pasadena Star-News/ SCNG)

LOS ANGELES — The Buss family has agreed to sell its remaining ownership stake in the Los Angeles Lakers, approximately 18%, to Bob Iger and Joshua Kushner, who reached an agreement to buy the franchise at a $12.5 billion valuation last week, according to multiple reports Monday afternoon.

“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 wrote in a statement to ESPN, which first reported the news. “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.”

On Wednesday, Mark Walter sold his majority stake in the Lakers to Iger, the former Disney CEO and Kushner, a venture capitalist firm founder, sources confirmed to the Southern California New Group. Iger and Kushner were previously interested in NBA expansion efforts before the opportunity to purchase the Lakers quickly developed.

The Buss family owned the Lakers for 46 years and sold their majority stake to Walter in June 2025. The Buss family trust consists of each of the siblings: Lakers governor Jeanie Buss, Jim Buss, Johnny Buss, Janie Buss, Joey Buss and Jesse Buss.

Jeanie Buss, who currently serves as the governor, will no longer be governor of the Lakers since her role requires holding at least a 15% stake in the franchise.

Last week, Iger said in an interview with the California Post that he intended on honoring the agreement between Walter and Buss that allowed Jeanie Buss to remain on as governor for the next five years since the first sale.

“We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise,” Iger said Wednesday to The Post. “And we have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she represents in the organization.”