The Buss family dynasty is officially over in Los Angeles. They just offloaded their remaining 17.8% share in the Lakers to Josh Kushner and Bob Iger, a move valued at a head-spinning $12.5 million. Think about that: the family had a stake in this team for nearly five decades, ever since Dr. Jerry Buss took the reins in May 1979. This isn’t just any transaction; it’s the final, dramatic exit. And get this: a 17.8% chunk of a $12.5 *billion* team should be worth a whopping $2.25 billion, not the $12.5 million sale price. That huge gap screams something. The biggest, most immediate fallout? Jeanie Buss, who just last year seemed cemented as the team’s governor, is now almost certainly out.
The Governance Game Changer: Jeanie Buss Out?
This sale isn’t just a paper shuffle, it’s a seismic shift for the Lakers. Just last week, Kushner and Iger already stunned the league by taking control from Mark Walter. When the Buss family initially sold off their majority control to Walter last summer, there was one non-negotiable: Jeanie Buss would remain the team’s governor. NBA rules require at least 15% ownership for that role, which the Buss family trust held onto for her. The league even stated in 2025, when Walter became owner, Jeanie would be governor for at least a five-year term. But the ink was barely dry on the Kushner-Iger deal before Bob Iger, speaking to The California Post, dropped a subtle bomb. He said Jeanie was still the plan, but gave that ominous caveat: “if things change, they’ll change.” Well, consider things irrevocably changed.
Siblings Force the Hand, Ending a Dynasty
This wasn’t a unanimous, feel-good family decision either. The Buss family trust needs four out of six siblings to vote for a sale. An ESPN report from January revealed Jeanie spearheaded the initial majority sale to Walter, precisely so she could keep her governorship. But that move sparked serious friction. Her younger brothers, Joey and Jesse Buss, prominent in Lakers’ basketball operations, were both fired afterward. Now, according to Yaron Weitzman, all five other Buss siblings, every single one *except* Jeanie, executed a “tag-along clause” in the family trust. They collectively demanded to sell the family’s remaining shares. This unified front against Jeanie forced the complete dissolution of the family’s ownership, pulling the rug out from under her governorship since they no longer own that critical 15%. It’s a brutal end to an era marked by deep family ties.
What’s Next For The Purple And Gold?
So, what does this absolute roller coaster mean for the Lakers on the court? With Mark Walter gone, and the Buss family entirely out, Josh Kushner and Bob Iger are the undisputed leaders. Walter spent the last 14 months trying to inject some “Dodger-fication” magic into the Lakers, integrating with his “more recently successful Dodgers” franchise. That whole chapter is officially closed. The exact blueprint for the team’s basketball future under the new leadership isn’t clear, but one thing is undeniable: this is the definitive, dramatic end of an era for the purple and gold. They’re starting fresh, and the stakes for their next moves couldn’t be higher. No one knows what kind of Lakers team we’ll see under this completely new regime.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by CBS Sports.
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