End of an era: Buss family to sell remaining 17.8% of the Lakers
Sale details and what it means
The Buss family trust has agreed to sell its remaining 17.8% stake in the Los Angeles Lakers to the new majority owners, Josh Kushner and Bob Iger. The trust — made up of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse — approved the move after the necessary votes allowed trustees to trigger a tag-along provision tied to a larger ownership transaction.
When the deal is finalized, Jeanie Buss will fall below the NBA’s ownership threshold required to remain a team governor (15%), which means she will no longer hold that role. The change follows a broader shift in control: Mark Walter sold his majority stake for $12.5 billion, a year after acquiring those shares from the Buss family for $10 billion, paving the way for Kushner and Iger to take over.
Kushner and Iger had already been active in league matters, including work related to expansion in Las Vegas, before making this high-profile push to acquire one of the NBA’s most storied franchises.
What the Buss family will do next
With ownership of the Lakers moving to new hands, members of the Buss family are exploring other basketball-related opportunities. Brothers Joey and Jesse Buss recently traveled to Lyon to meet with several investors and discuss a potential purchase of the French club ASVEL, which competes in the EuroLeague. They also met with the club’s owner and visited the team’s academy during the trip.
Those talks are still early and could stretch into late 2026. One of the main hurdles is valuation: some shareholders had hoped for a price near €120 million, while current assessments place the club closer to €60–80 million. Regardless of the outcome in France, the sale of the Lakers stake officially closes a long chapter for the Buss family and opens new business avenues for them overseas and beyond.
