Bob Iger and Josh Kushner doubled down on the Los Angeles Lakers, dropping serious cash for the *remaining* 17.8 percent ownership stake held by the legendary Buss family. This isn’t some small transaction, folks, this is the final chapter of a changing of the guard, happening less than a week after the duo snatched up the majority stake at what ESPN’s Shams Charania reported as a historic valuation.
The End of an Era, For Real This Time
The Buss family has been synonymous with the Lakers for generations, a cornerstone of the franchise’s identity. But according to the family’s own statement, their time at the ownership table is officially done. They said, and I quote: “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.” Think about that for a second. This isn’t some slow fade. This is a complete, decisive exit, following up on Iger and Kushner’s earlier move to secure majority control. The writing was on the wall when they bought the bigger chunk, but this final purchase seals the deal. It’s a full transfer of power, and it’s happening right now. For a family so deeply intertwined with one of the most iconic franchises in sports, to see them completely step away, it definitely hits different. It means the Buss family’s direct ownership era, a foundational pillar of the franchise, is gracefully coming to a close. They’ve been through so much with that team, the highs, the lows, the championships. Now, it’s a new chapter entirely.
What “Moving On Gracefully” Actually Means
The Buss family didn’t pull any punches in their statement about this final sale. They were clear: “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.” That “while we still can” part? That’s the money line, isn’t it? It suggests a moment, a window of opportunity they felt was right to make this complete break. They’re not just selling a piece, they’re stepping entirely out of the ownership picture. This isn’t just about money, it’s about timing and strategy. They clearly believe this “ongoing transaction” is the best path for them personally. It signals a strategic, rather than forced, departure. While they say they’ll keep supporting the team, their direct influence on the Lakers’ future from an ownership perspective is now completely gone. It’s a huge shift in the boardroom, one that will absolutely have ripple effects, even if they aren’t immediately visible on the court. A new leadership group now has full reign.
So, what’s next for the Lakers under this new, complete ownership? Iger and Kushner clearly see immense value in the franchise, evidenced by their quick follow-up purchase after that historic valuation. The future direction of the team, both on the business side and potentially in how they approach personnel decisions, now rests entirely in their hands. This is a monumental moment for the purple and gold.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Bleacher Report.
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