Kushner and Iger would purchase the Buss family’s remaining Lakers ownership

After agreeing last week to buy the Los Angeles Lakers for $12.5 billion from billionaire Mark Walter, the Buss family, the team’s longtime owners. Will sell Josh Kushner and Bob Iger their remaining stake in the legendary team, according to several reports. This will further increase their control over the team.

According to ESPN, the Buss family will sell its 17.8% ownership in the Lakers. Owner Jeanie Buss, the daughter of former club owner Jerry Buss, will no longer be the team governor because NBA regulations mandate that owners and governors hold at least 15% of a team.

According to The Athletic, the six children of Jerry Buss, who are the beneficiaries of the Buss family trust, voted last week on the sale of the remaining portion. Jeanie, Janie, and Joey Buss will be in charge of carrying out the sale. After agreeing last week to buy the Los Angeles Lakers for $12.5 billion from billionaire Mark Walter. The Buss family, the team’s longtime owners, will sell Josh Kushner and Bob Iger their remaining stake in the legendary team, according to several reports. This will further increase their control over the team.

The intention to sell comes shortly after Lakers owner Mark Walter unexpectedly agreed to sell the team to Kushner and Iger last week, amid a federal fraud investigation, giving them approximately a 65% stake in the team.

Buss family

If the Buss family manages to sell the remaining stake to Kushner and Iger, they will have a combined ownership of approximately 83%.

Walter, who is the majority owner of the Los Angeles Dodgers and Los Angeles Sparks, agreed to sell the Lakers to Kushner and Iger last week for $12.5 billion. Just 14 months after buying the team when it was valued at $10 billion.

Federal investigators are examining whether insurance companies owned by Walter improperly funneled money to other businesses he owned. The timing of the investigation and his subsequent sale of the Lakers sparked conspiracy theories alleging that the federal investigation may have benefited Kushner. Who is the brother of Jared Kushner, President Donald Trump’s son-in-law.

Sports team owners typically maintain their teams or remain connected to them for decades, further fueling speculation about Walter’s decision to sell.