Originally published by LakersNation.com
The Los Angeles Lakers have now sold multiple times in the last couple of years as Jeanie and the Buss family first sold their majority stake to Mark Walter at a $10 billion valuation. Now, Walter is selling his majority stake just one year later to Bob Iger and Josh Kushner for a $12.5 billion valution.
In the first sale though, the Buss family was able to hold onto a 17.8% ownership stake with Jeanie continuing as governor of the organization. It appears they now want out too though and will be selling their remaining shares to Iger and Kushner, per Shams Charania of ESPN:
Breaking: The Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to new majority owners Josh Kushner and Bob Iger, sources tell ESPN.
The Buss family trust — composed of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse — received… pic.twitter.com/hPVqOvsuZ0
— Shams Charania (@ShamsCharania) August 17, 2026
With this being the case, Jeanie will no longer be able to be the Lakers’ governor despite Iger recently stating the expectation was for that to stay the same:
Once the transaction is completed, Jeanie Buss will no longer have the required ownership percentage to remain governor. NBA guidelines require controlling owners/governors to own at least 15% of a franchise. https://t.co/e9jLvTvEp7
— Shams Charania (@ShamsCharania) August 17, 2026
Given Iger’s recent comments, this is a change of plans from what was originally expected when he and Kushner bought the team.
With Jeanie and the Buss family no longer owning any of the Lakers, this marks the end of an era that began when Dr. Jerry Buss purchased the team in 1979. Under their family’s watch, the Lakers won 11 championships, which is the most in the league by far, and helped revolutionize the NBA and sporting events into what they are today.
Jeanie took over as full-time governor after Dr. Buss’ death, but now she and her family will move on from the organization they have called home for almost 50 years.
Bob Iger expected to be primary figure running Lakers
It was recently reported that Iger is expected to be the primary figure running the Lakers once the sale becomes official, as opposed to Kushner.
It remains to be seen if that means he will take on the role of governor in the absence of Jeanie Buss, although that likely is to happen in the coming months. Iger already has a great relationship with NBA commissioner Adam Silver and some of the other owners, making this a natural transition from Buss to him.
If you love our reporting, choose LakersNation.com as a preferred source on Google.
The Los Angeles Lakers have now sold multiple times in the last couple of years as Jeanie and the Buss family first sold their majority stake to Mark Walter at a $10 billion valuation. Now, Walter is selling his majority stake just one year later to Bob Iger and Josh Kushner for a $12.5 billion valution.
In the first sale though, the Buss family was able to hold onto a 17.8% ownership stake with Jeanie continuing as governor of the organization. It appears they now want out too though and will be selling their remaining shares to Iger and Kushner, per Shams Charania of ESPN:
Breaking: The Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to new majority owners Josh Kushner and Bob Iger, sources tell ESPN.
The Buss family trust — composed of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse — received… pic.twitter.com/hPVqOvsuZ0
— Shams Charania (@ShamsCharania) August 17, 2026
With this being the case, Jeanie will no longer be able to be the Lakers’ governor despite Iger recently stating the expectation was for that to stay the same:
Once the transaction is completed, Jeanie Buss will no longer have the required ownership percentage to remain governor. NBA guidelines require controlling owners/governors to own at least 15% of a franchise. https://t.co/e9jLvTvEp7
— Shams Charania (@ShamsCharania) August 17, 2026
Given Iger’s recent comments, this is a change of plans from what was originally expected when he and Kushner bought the team.
With Jeanie and the Buss family no longer owning any of the Lakers, this marks the end of an era that began when Dr. Jerry Buss purchased the team in 1979. Under their family’s watch, the Lakers won 11 championships, which is the most in the league by far, and helped revolutionize the NBA and sporting events into what they are today.
Jeanie took over as full-time governor after Dr. Buss’ death, but now she and her family will move on from the organization they have called home for almost 50 years.
Bob Iger expected to be primary figure running Lakers
It was recently reported that Iger is expected to be the primary figure running the Lakers once the sale becomes official, as opposed to Kushner.
It remains to be seen if that means he will take on the role of governor in the absence of Jeanie Buss, although that likely is to happen in the coming months. Iger already has a great relationship with NBA commissioner Adam Silver and some of the other owners, making this a natural transition from Buss to him.
If you love our reporting, choose LakersNation.com as a preferred source on Google.