Josh Kushner and Bob Iger continue Lakers investment by buying out iconic owners
Josh Kushner and Bob Iger continue Lakers investment by buying out iconic owners
Rory RobinsonMon, August 17, 2026 at 10:15 PM UTC
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Josh Kushner and former Disney CEO Bob Iger are buying the Buss family's remaining shares of the Los Angeles Lakers -Credit:Getty
The Buss family has been stitched into the fabric of the Los Angeles Lakers for longer than most NBA fans have been alive, but that run is coming to a close, and basketball fans can thank Josh Kushner and Bob Iger for slamming the door shut on an old, beloved era.
Iger and Kushner are scooping up the Buss family's last chunk of the Lakers to flip a major power switch on one of the NBA's all-time dynasties. The news dropped days after Iger and Kushner locked up Mark Walter's controlling stake for $12.5 billion.
The Buss family selling their last 17.8 percent means the new duo now owns about 83 percent of the Lakers. Reports surfaced that Lakers senior VP of finance, Joe McCormack called for the meeting on Monday. Meanwhile, ESPN snagged Lakers' first game of NBA season after the ex-Disney CEO buys team.
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All six Buss siblings reportedly signed off on the sale. Five of the six exercised a tag-along clause that allowed them to sell alongside the controlling transaction.
The NBA still has to sign off on the deal and its Board of Governors are set to review the move in September. Jeanie Buss initially stayed on as governor but will lose her position after dropping below the required 15 percent threshold.
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Reports surfaced in January of internal friction between Jeanie and LeBron James. The NBA all-time leading scorer has since moved to the Philadelphia 76ers.
The Lakers were sold for over $12 billion -Credit:Getty
The sale ends a run that started when Jerry Buss bought the Lakers in 1979. The team won 11 titles over that span, invented their Showtime persona, and became a brand that has even inspired a full Netflix streaming series.
Walter gained majority control in June 2025 for $10 billion, then flipped it 14 months later. Kushner and Iger first inquired about a Las Vegas expansion with Thrive Eternal.
Kushner has had his hands in the Miami Heat, Memphis Grizzlies, and even MLB's San Francisco Giants. Iger has been circling the sports ownership block for years and is the former CEO of Disney.
Iger is a Los Angeles Clippers fan despite his Lakers ownership -Credit:Getty
The new Lakers owner grew up in Long Island rooting for the current NBA Champion New York Knicks.
Iger became a Los Angeles Clippers fan in the 2000s after moving to LA and even once said cheering for the Lakers was not in his DNA. Clippers owner Steve Ballmer purchased his franchise for $2 million in 2014.
"I couldn't root for the Lakers very easily; it just was not in my DNA," he said to Bill Simmons. "So I decided to adopt the Clippers, which was actually a good thing because their seats were a lot cheaper than the Lakers."
Source: “AOL Sports”
