The Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to new majority owners Josh Kushner and Bob Iger, according to ESPN sources.
The Buss family trust, made up of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse, received the majority votes needed for trustees to execute the sale. Four of six votes were required to activate the tag-along provision connected to Mark Walter’s sale to Kushner and Iger, which valued the Lakers at $12.5 billion.
Once completed, Jeanie Buss will no longer hold the ownership percentage required to remain the Lakers’ governor. NBA guidelines require controlling owners and governors to own at least 15% of a franchise.
In a statement to ESPN, 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.”
> Statement from the Buss family to ESPN: "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… [https://t.co/JIT4cu2z5n](https://t.co/JIT4cu2z5n)
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> — Shams Charania (@ShamsCharania) [August 17, 2026](https://x.com/ShamsCharania/status/2089436715270258988?ref_src=twsrc%5Etfw)
Venture capitalist Josh Kushner and former Disney CEO Bob Iger are leading a group purchasing the Lakers for $12.5 billion, less than a year after Mark Walter acquired controlling interest from the Buss family for $10 billion.
Kushner and Iger had been pursuing an NBA expansion franchise in Las Vegas before turning their attention toward one of basketball’s crown jewels. Their group reportedly approached Walter with an unsolicited “offer he couldn’t refuse.”