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The new owners of the Los Angeles Lakers are consolidating their control over the franchise and amplifying their stake in the team.
The Buss family agreed to sell its remaining 17.8% stake in the franchise on Monday, Aug. 17 to new majority owners, businessman Joshua Kushner and former Disney CEO Robert Iger.
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“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 Monday in a statement. “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.”
This comes just days after Kushner and Iger stunned the NBA world by agreeing to a purchase agreement of the Lakers for a record $12.5 billion on Wednesday, Aug. 12. That happened just 10 months after Los Angeles Dodgers co-owner and TWG Global CEO Mark Walter bought the team from the Buss Family.
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Joshua Kushner makes a bold move from investor to NBA owner
Founder and Managing Partner of the venture capital firm Thrive Capital, Joshua Kushner, speaks during the Hill & Valley Forum at the US Capitol Visitor Center Auditorium in Washington, DC, on April 30, 2025. The Los Angeles Lakers, one of the most successful teams in NBA history, are being sold to former Disney CEO Bob Iger and investor Joshua Kushner in a deal valued at a reported $12.5 billion. The sale announced on August 12, 2026 would mark a record-breaking valuation for a North American sports franchise and comes only about a year after billionaire Mark Walter agreed to buy a controlling interest in the team in a then-record $10 billion deal.
(BRENDAN SMIALOWSKI, AFP via Getty Images)
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Joshua Kushner makes a bold move from investor to NBA owner
Founder and Managing Partner of the venture capital firm Thrive Capital, Joshua Kushner, speaks during the Hill & Valley Forum at the US Capitol Visitor Center Auditorium in Washington, DC, on April 30, 2025. The Los Angeles Lakers, one of the most successful teams in NBA history, are being sold to former Disney CEO Bob Iger and investor Joshua…
Source link : https://sports.yahoo.com/articles/buss-family-sell-remaining-stake-201628170.html
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Publish date : 2026-08-17 20:16:00
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