Buss family’s final Lakers sale brings a 47-year ownership era to its close

Talking point 1: The Buss family are leaving the ownership picture

The Buss family have agreed to sell their remaining 17.8 per cent ownership stake in the Los Angeles Lakers, bringing their direct involvement with the franchise to an end. Source 1

That association began when Dr Jerry Buss bought the team in 1979, and the new agreement concludes an ownership period described as spanning 47 years. Source 1

The family’s statement made clear that the sale concerns the remaining shares held by the Buss Family Trust and forms part of the ongoing transaction. Source 1

"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," the Buss family said. Source 1

The same statement paired the exit with an expression of continuing attachment to the club and its supporters. Source 1

"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," the family added. Source 1

For Lakers followers, the immediate significance is straightforward: the family name that had been directly tied to the franchise since 1979 will no longer hold a direct ownership stake once the process is completed. Source 1

Talking point 2: A record valuation sets the financial scale

Josh Kushner and Bob Iger are the purchasers of the Buss family’s remaining stake, according to reports from CBS Sports and ESPN. Source 1Source 2

The wider transaction values the entire Lakers franchise at $12.5 billion, a record figure for the deal. Source 1Source 2

At that franchise valuation, the family’s 17.8 per cent holding is worth approximately $2.25 billion. Source 1

The figures make this more than a final transfer of a minority stake: it is the closing portion of a transaction priced at the $12.5 billion valuation for the whole club. Source 1Source 2

CBS Sports reported that the Buss family had confirmed the sale of the remaining shares to the Bob Iger group, while ESPN identified Kushner and Iger as the businessmen buying the Lakers. Source 1Source 2

The transaction therefore puts Kushner and Iger at the centre of the next ownership phase, while the Buss family’s remaining financial connection is being sold. Source 1Source 2

The headline number will naturally dominate the conversation, but the key basketball-side fact is equally clear: the agreement removes the family’s final 17.8 per cent from the ownership structure. Source 1

Talking point 3: The final sale follows Mark Walter’s move for control

This is the second major ownership development involving the Buss family in roughly 14 months. Source 1Source 2

Mark Walter acquired majority control of the Lakers from the Buss family at an approximate $10 billion valuation around 14 months before this agreement. Source 1Source 2

The proposed sale of the remaining stake is priced against a $12.5 billion franchise valuation, compared with that earlier approximately $10 billion figure. Source 1Source 2

That sequence explains why the latest announcement is about the family’s final shares rather than a first transfer of control. Source 1Source 2

There is still a formal step before completion, as the deal requires approval from the NBA Board of Governors. Source 2

Until that approval is granted, the agreement remains a proposed transaction rather than a completed transfer. Source 2

For the weekend discussion, it is worth separating those two points: the family has agreed to sell its remaining stake, but the NBA’s approval process is still required for the deal to be completed. Source 1Source 2

Talking point 4: The ownership news arrives after a strong but unfinished season

The Lakers finished the 2025–26 regular season fourth in the Western Conference with a 53–29 record and also finished first in the Pacific Division. Source 4

Across that regular season, Los Angeles scored 9,540 points and conceded 9,396, producing a positive differential of 144 points. Source 4

Across all recorded 2025–26 NBA games, the Lakers averaged 114.1 points scored and 113.6 conceded per game. Source 5

The playoff outcome, however, was more abrupt than the regular-season position suggested. Source 4Source 6

Los Angeles advanced past the Houston Rockets in the opening round before Oklahoma City swept the Lakers in four quarter-final games. Source 6

That result means the ownership story lands after a campaign featuring a division title and 53 regular-season wins, but ending without a deeper playoff run. Source 4Source 6

The numbers offer a concise snapshot of the team context around the deal: a 53–29 regular season, a positive points differential, and a four-game quarter-final sweep by the Thunder. Source 4Source 6

Bonus point: A championship-rich chapter is being closed

The Lakers won 11 NBA championships during the Buss family’s ownership period. Source 1

That total sits alongside the family’s nearly five decades of direct ownership, beginning with Dr Jerry Buss’s 1979 purchase and ending with the agreement to sell the remaining stake. Source 1

The family’s own statement stressed affection for the Lakers and their fans even as it confirmed the decision to leave the ownership structure. Source 1

The combination of that history and the record $12.5 billion valuation makes this an ownership change with both sporting and institutional weight for the franchise. Source 1Source 2

The Read

The next point to watch is NBA Board of Governors approval, which is required before the agreed sale can be completed. Source 2

Once that process is resolved, the practical ownership picture will reflect the sale of the Buss family’s last 17.8 per cent stake to Kushner and Iger’s group. Source 1Source 2

On the court, the Lakers will carry forward the recent context of a 53–29 regular season, a Pacific Division title and a playoff exit to Oklahoma City after the opening-round win over Houston. Source 4Source 6

For now, the confirmed facts are the agreement, the $12.5 billion valuation, the named purchasers and the approval still needed to turn the agreement into a completed transaction. Source 1Source 2