Buss family decides to sell remaining ownership stake in Lakers to Josh Kushner, Bob Iger; Jeanie Buss out as Lakers governor

Shams Charania: Breaking: 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, sources tell ESPN. The Buss family trust -- composed of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse -- received majority votes to allow trustees to execute the sale. It required four of six votes to enact the tag-along provision of Mark Walter's sale to Kushner and Iger, which valued the Lakers at $12.5 billion.

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As The Athletic first reported last summer, Buss’s agreement with the Walter group stipulated that she would remain the team’s governor for at least five years. What’s more, it’s worth remembering that the NBA strongly dislikes governorships changing hands on any sort of frequent basis. Per league sources, that’s why the five-year term approach (at minimum) was prioritized in the previous deal and driven by the league’s preferences. — 8/13/2026 New York Times

So, what’s next for the Lakers? Here’s what we know: Jeanie Buss will apparently remain governor for at least another four years, as was agreed upon when she sold the team to Walter. But while Iger told the Post he has “every intention to honor the agreement,” there was a caveat. “If things change, they’ll change,” Iger told The Post. “But we’re going into this with enormous respect and appreciation for who she is and what she represents in the organization.” Iger has already reached out to Buss and Lakers coach JJ Redick, whom he has known since Redick’s playing days with the LA Clippers. — 8/13/2026 New York Post

Ramona Shelburne: Statement to ESPN from Mark Walter: “Owning the Los Angeles Lakers has been one of the great honors of my life - an extraordinary investment, but what I will carry with me is the community, the fans, and a city that treats this team as family. I am grateful to Jeanie Buss, the Buss family, the players, and the staff for welcoming me into this chapter. The Lakers belong to Los Angeles, and I have every confidence the best is still ahead.” — 8/12/2026 x.com

Ramona Shelburne: Update: The agreement is for $12.5 billion. — 8/12/2026 x.com

Ramona Shelburne: Mark Walter is only selling the Lakers in this transaction, sources said. He’s retaining the Dodgers. — 8/12/2026 x.com

Ramona Shelburne: Statement to ESPN from Josh Kushner and Bob Iger: “As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles." — 8/12/2026 x.com

Tom Haberstroh: Luka Doncic has now played for 5 different owners in <3 years: DAL- Mark Cuban DAL- The Adelson family LAL- Jeanie Buss LAL- Mark Walter LAL- Kushner/Iger — 8/12/2026 x.com

Iger made it clear it’s too early to speculate what’s to come. “We’re fans,” Iger said. “We respect the value that’s been created, both on the court and off. Our intention is to build this great franchise from a position of strength in many respects as an organization. We’re smart enough to know what we know and what we don’t know. It’s just premature to speculate at all about what we plan to do, because frankly, we haven’t made any plans yet. Again, we go into this with an appreciation of who the Lakers are. And we just want to build value from today on.” Iger added: “This is very new.” — 8/12/2026 New York Post

Grateful, appreciative, excited to own something that’s as iconic as the LA Lakers,” Iger said of his feelings. “Josh and I are avid NBA fans. And [to] have an opportunity to own not just any NBA team, but the LA Lakers is…it’s extraordinary from a life experience perspective and business perspective. It’s still sinking in. We’re very excited.” — 8/12/2026 New York Post

“We were involved in pursuing the new franchise in Vegas,” Iger said during an exclusive phone call with the California Post. “And while that happened, it was suggested to us that maybe Mark Walter would be interested in selling his stake in the Lakers. And we immediately decided that given the value of the franchise and the iconic nature of the team, that we would be really smart to pursue it. The deal came together in three days. “It’s that simple.” — 8/12/2026 New York Post

This article originally appeared on Hoops Hype: Buss family decides to sell remaining ownership stake in Lakers to Josh Kushner, Bob Iger; Jeanie Buss out as Lakers governor