Buss Family Sells Final Lakers Stake to Iger, Kushner

The Buss family has finalized the sale of its remaining ownership stake in the Los Angeles Lakers to a consortium led by Bob Iger, the former CEO of The Walt Disney Company, and Josh Kushner, a prominent investor. This transaction marks the complete divestment of the Buss family's interest in the National Basketball Association (NBA) team, which they have owned for decades. The deal, valued at an estimated $12.5 billion, signifies a significant shift in the ownership landscape of one of the NBA's most storied franchises.

While specific details regarding the exact percentage of the stake sold by the Buss family were not immediately disclosed, the agreement represents the culmination of a process that began with earlier sales of portions of the team's ownership. The involvement of Bob Iger, who recently received accolades at the D23 Expo for his contributions to Disney, suggests a high-profile and strategic investment in the sports and entertainment sector. Josh Kushner, known for his investments through Thrive Capital, brings a strong financial and entrepreneurial background to the ownership group.

The Los Angeles Lakers, a team with a rich history of championships and iconic players, have been under the control of the Buss family since Dr. Jerry Buss purchased the team in 1979. His daughter, Jeanie Buss, has served as the controlling owner and president of the Lakers in recent years. The decision to sell the remaining stake indicates a strategic move by the family to exit their long-held sports franchise ownership.

The $12.5 billion valuation places the Lakers among the most valuable sports franchises globally. This figure reflects not only the team's on-court success and brand recognition but also the broader growth and commercialization of professional sports leagues like the NBA. The influx of new ownership, particularly with figures like Iger and Kushner, could signal new strategies for the team's business operations, fan engagement, and potential expansion into new markets or media ventures. The NBA's approval is a standard requirement for significant ownership changes, and it is expected that this deal will undergo the necessary review processes.

This sale is part of a larger trend of significant capital flowing into professional sports ownership, with investors increasingly recognizing the financial potential and cultural impact of major sports teams. The Lakers, with their global appeal and consistent presence in championship contention, remain a highly attractive asset. The transition in ownership is anticipated to be smooth, with the new group aiming to build upon the team's legacy and continue its pursuit of on-court excellence.