Dr. Patrick Soon-Shiong just dropped a bombshell, making it crystal clear he’s not budging from his minority share of the Los Angeles Lakers, even as the Buss family tears itself apart over the team’s sale. This isn’t just some background noise, folks, it’s a full-on ownership drama playing out while a massive $12.5 billion deal hangs in the balance.
The Lakers’ $12.5 Billion Deal Hits A Family Feud Wall
So, here’s the wildness: Mark Walter, who barely had time to get comfortable after buying his majority share of the Lakers last October, is already selling out. Bleacher Report’s Ramona Shelburne broke the news on August 12 that Bob Iger and Joshua Kushner are set to take over Walter’s stake, valuing the entire franchise at a staggering $12.5 billion. Think about that number for a second! But before anyone pops the champagne, the Buss family, who have owned a piece of the Lakers since Dr. Jerry Buss shelled out $67.5 million for the team back in 1979, is completely at odds. We’re talking about a serious sibling squabble here, with Jeanie Buss, the team’s governor since 2013, straight up contesting her five siblings’ vote to sell *their* 17.8 percent stake. This whole thing is messy, especially since Walter’s deal last year promised Jeanie would stay governor through at least the 2030 season. What a mess, right?
Soon-Shiong’s Half-Billion Dollar Statement
Amidst all this chaos, Dr. Patrick Soon-Shiong isn’t playing along. His attorney told ESPN’s Dave McMenamin that Soon-Shiong has “absolutely” no plans to sell his four percent stake. He’s not just sitting pretty, either. Soon-Shiong called Iger and Kushner “good friends,” stating he’ll be right there with them as “supportive, active and engaged partners.” He’s “extremely excited about the Lakers’ future” and is looking forward to “many more championship years.” Talk about a vote of confidence! This guy bought his share from Magic Johnson in 2010 when it was valued around $30 million. Now, based on that $12.5 billion valuation, his four percent stake is worth roughly $500 million. That’s a half-billion-dollar statement right there. And get this, if Jeanie’s five siblings actually sell, she’d only retain around a three percent share, and NBA rules require at least a 15 percent ownership stake to be the governor. This isn’t just about money, it’s about control.
This whole situation is a high-stakes chess match for one of the league’s most iconic franchises. The next move is critical for the Buss family and for Jeanie Buss’s role as governor. Will the siblings back down, or will Jeanie find a way to maintain her power? Keep your eyes locked on this story, because the future of the Lakers’ ownership is far from settled.
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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