The End of an Ownership Dynasty
The Los Angeles Lakers will soon be under new ownership after the Buss family announced the sale of its 17.8 percent minority stake to a consortium led by Josh Kushner and former Disney chief Bob Iger. The transaction, which values the franchise at roughly $12.5 billion, marks the conclusion of a 47‑year chapter in which the Buss lineage guided the team through its most iconic periods.
Jerry Buss purchased the club in 1979 for $67.5 million and transformed it into a basketball powerhouse, ushering in the “Showtime” era that captured five NBA titles between 1980 and 1988. His sister Jeanie Buss, who served as governor of the franchise, will step down from that role as part of the agreement, ending the family’s direct governance of the team.
A Deal Valued at $12.5 Billion
The sale follows a series of internal disputes among the Buss siblings, including high‑profile firings and lawsuits that had strained the family’s cohesion. Despite the turmoil, the franchise remained a cornerstone of the NBA, employing legends such as Kobe Bryant and LeBron James, who together added five more championships from 2000 to 2020.
Mark Walter, the consortium’s principal investor, brings a background that includes a recent federal tax investigation, adding a layer of scrutiny to the deal. His partnership with Kushner and Iger reflects a shift toward a more diversified ownership model that could influence the team’s strategic direction.
Under the terms of the agreement, the new owners will control about 83 percent of the Lakers, while the remaining shares are distributed among other investors. The NBA’s board of governors must still approve the transaction, a process that may take several months before it is officially finalized.