Overview
- The Buss Family Trust voted to sell its remaining 17.8% stake in the Los Angeles Lakers to Bob Iger and Josh Kushner, a decision reported on Monday that would raise the buyers’ combined holding to about 83 percent if approved.
- Iger and Kushner agreed this month to buy Mark Walter’s majority stake at a reported $12.5 billion valuation, a price that the tag-along sale of the Buss shares would match and that sets a new U.S. sports‑team valuation record.
- Jeanie Buss has publicly opposed the sale and her lawyer sent a letter arguing the trust’s co‑trustees must approve any transfer, saying a sale that drops her below 15 percent would violate trust terms and court orders.
- The transaction still requires a vote by the NBA Board of Governors at its next meeting and could be affected by separate federal and SEC inquiries into businesses tied to Mark Walter.
- The move would end roughly 47 years of Buss family ownership and likely remove Jeanie Buss from her role as the Lakers’ governor because league rules require at least a 15 percent stake to hold that position.