Buss Family Sells Remaining Lakers Stake for $12.5 Billion, Ushering in New Ownership Era

The Buss family has finalized an agreement to divest its remaining 17.8% ownership in the storied Los Angeles Lakers franchise, marking the end of a remarkable 47-year era of family control. This significant transaction, reported by ESPN's Shams Charania, values the iconic NBA team at an impressive $12.5 billion USD. The deal consolidates ownership for investors Josh Kushner and Bob Iger, bringing their collective stake to approximately 83%. This follows their earlier acquisition of the majority share previously held by Mark Walter, a prominent figure in sports and business. The sale necessitates a change in leadership at the top, as Jeanie Buss, who has served as the team's governor since 2013, will step down from that role. This transition is driven by NBA regulations, which stipulate that a franchise's controlling governor must retain a minimum ownership stake of 15%. Jeanie Buss assumed the governorship after the passing of her father, Dr. Jerry Buss, who originally purchased the Lakers in May 1979. Under the visionary leadership of Jerry Buss and subsequently his daughter, the Lakers achieved unparalleled success, securing 11 NBA championships and amassing a league-leading 2,289 victories during their tenure. The proposed ownership change is now subject to the formal approval of the NBA Board of Governors. A crucial condition for final clearance is that Josh Kushner, a co-founder of Thrive Capital, must sell his limited equity interest in the Miami Heat, another NBA franchise, to avoid any potential conflicts of interest. The NBA Board of Governors is slated to review and vote on this transaction during their upcoming meeting scheduled for September 15 and 16 in New York. This sale represents a pivotal moment for the Los Angeles Lakers, signaling a new chapter in their storied history under a significantly altered ownership structure. The $12.5 billion valuation underscores the enduring brand strength and immense market value of the Lakers within the National Basketball Association, positioning them as one of the most valuable sports franchises globally. The transition signifies a fundamental shift in the team's governance and strategic direction, as new majority owners prepare to steer one of the league's most celebrated franchises into the future.