Lakers minority owner Dr. Patrick Soon-Shiong not selling 4% stake
ESPN • • sports
Key Points:
- Dr. Patrick Soon-Shiong, a minority owner of the Los Angeles Lakers with a 4% stake, has no plans to sell his share following the sale of majority ownership by Mark Walter to Bob Iger and Josh Kushner.
- The six Buss siblings collectively own 17.8% of the team, with five siblings agreeing to sell their remaining stake to Iger and Kushner at a $12.5 billion valuation, while Jeanie Buss is the sole holdout contesting the sale.
- Jeanie Buss, the Lakers' acting governor, is challenging her siblings' decision to sell, citing a 2017 court ruling that requires co-trustee approval for any sale of the family's shares.
- If the Buss siblings sell their stakes, Jeanie would need to acquire an additional 12% ownership to meet NBA requirements for acting governor, a difficult goal without support from Iger, Kushner, or her siblings.
- Dr. Soon-Shiong's stake is off the market, leaving Ed Roski Jr., who owns about 3%, as one of the few minority owners Jeanie could potentially approach to increase her share.
