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Buss family selling remaining 17.8% ownership stake in Lakers to new majority owners Josh Kushner and Bob Iger
Yahoo Sports • • general
Key Points:
- After nearly 50 years, the Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to the new majority ownership group led by Bob Iger and Josh Kushner, following their recent $12.5 billion purchase of the controlling stake.
- The sale, agreed upon unanimously by the six Buss siblings, increases Iger and Kushner's ownership in the Lakers to approximately 83%, consolidating their control over the franchise.
- The Buss family, which took control of the Lakers in 1979 and oversaw the iconic Showtime era, had already sold the majority stake last year but retained a minority share until this latest transaction.
- Jeanie Buss, who served as team president and governor, will lose the 15% ownership stake required to maintain her role as governor, leaving the team's future leadership uncertain.
- Internal family conflicts and recent front office restructures, including the firing of several Buss siblings, may have influenced the family's decision to exit ownership and raise questions about the future of key personnel like general manager Rob Pelinka.
