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Lakers’ Buss family intends to sell, removing Jeanie Buss from governor role: Sources
The New York Times • • general
Key Points:
- The Buss family plans to sell its remaining shares in the Los Angeles Lakers, which would end their nearly 50-year stewardship and force Jeanie Buss to relinquish her role as the team’s governor.
- The sale follows majority owner Mark Walter's agreement to sell the team to Bob Iger and Josh Kushner in a deal valuing the Lakers at $12.5 billion.
- The Buss family trust, composed of six of Jerry Buss’ children, required at least four of six votes to approve the sale intent, with three trustees now responsible for executing the sale.
- Jeanie Buss’s governorship depends on owning at least 15 percent of the team, a stake she will lose if the sale is completed, though she retained the role for five years as part of the prior deal with Walter.
- Bob Iger expressed respect for Jeanie Buss and the Buss family’s legacy, stating the new ownership intends to honor the existing governorship agreement.
