The Buss family’s long run as the Lakers’ controlling force is coming to an end.
According to ESPN’s Shams Charania, the family is selling its remaining 17.8% ownership stake to new majority owners Josh Kushner and Bob Iger. Charania reported that the Buss family trust - made up of siblings Jeanie, Jim, Janie, Joey and Jesse - got the votes needed to authorize the trustees to move ahead with the sale.
Once the deal is finalized, Jeanie Buss will no longer own enough of the team to stay on as governor, Charania reported. She has held that role since 2013, when she stepped in after the death of her father, Jerry.
In a statement to Charania, the family said, "We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction,"
They added, "We love the Lakers, Laker fans, and will continue to support Los Angeles, but it is time to use this opportunity to move on and exit gracefully while we still can."
Kushner and Iger already purchased the Lakers from former majority owner Mark Walter for a reported $12.5 billion, a figure that set a new record for a North American sports franchise.
The NBA’s board of governors still has to sign off on the sale, with approval set for its next meeting in September.
Kushner and Iger had initially planned to keep Jeanie in place as governor for at least five years, an arrangement that was part of the deal when Walter bought a controlling interest in the franchise from her family in October 2025.
Before Monday’s reported sale, Iger told the California Post’s Khobi Price, "We have enormous respect and appreciation for Jeanie, her father, and what they've contributed to this franchise," Iger told the California Post's Khobi Price prior to Monday's reported sale. "And we have every intention to honor the agreement that was made between Mark and Jeanie.
"If things change, they'll change, but we're going into this with enormous respect and appreciation for who she is and what she represents in the organization."
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