Buss family will sell minority ownership stake in Lakers to Kushner and Iger, reports say
Summary
The Buss family has decided to sell their 17.8% minority ownership stake in the Los Angeles Lakers to Josh Kushner and Bob Iger. This sale ends the Buss family's 47-year involvement with the team and likely ends Jeanie Buss’s role as the Lakers’ governor.Key Facts
- The Buss family owns 17.8% of the Los Angeles Lakers, a minority stake.
- The six children of late owner Jerry Buss voted to sell this stake to new majority owners Josh Kushner and Bob Iger.
- The family’s ownership of the Lakers dates back 47 years.
- Jeanie Buss has been the Lakers’ governor since Jerry Buss passed away in 2013.
- Jeanie Buss led the sale of a controlling stake in the Lakers to Mark Walter last year at a $10 billion valuation.
- Josh Kushner and Bob Iger will now own about 83% of the Lakers, up from Walter’s 65%.
- Jeanie Buss is expected to lose her role as team governor because governors must own at least 15% of the team.
- Jerry Buss bought the Lakers and related assets in 1979 for $67.5 million, starting the team’s rise to success.
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