Joshua Kushner and Bob Iger Acquire Los Angeles Lakers in Historic $12 Billion Transaction
The ownership of the Los Angeles Lakers has shifted dramatically as Joshua Kushner and Bob Iger complete a record-breaking $12 billion purchase of the storied NBA franchise. This acquisition comes in the wake of the Buss family’s controversial decision to sell their majority stake in the team last summer, a move that has left the six children of former owner Jerry Buss divided in opinion.
Following the $10 billion transaction, the Buss siblings collectively retained a 17.8 percent stake in the Lakers, enough to satisfy the 15 percent minimum required for controlling owner Jeanie Buss to continue as team governor until at least 2030. However, tensions have escalated in the months since, with Janie Buss, 62, and brothers Joey Buss, 41, and Jesse Buss, 38, being dismissed from their front office roles. Johnny Buss, 69, opted to pursue other ventures following their father’s passing, while Jim Buss, 66, was removed from his position in 2017.
Expressing her dissatisfaction with the sale, Janie Buss shared with ESPN in January, “I don’t think my dad would be happy with the way things just went down. Not at all.” In contrast, Jeanie Buss has defended the decision, asserting that their father would have supported the choice to sell to Guggenheim Partners CEO Mark Walter, who also owns the Los Angeles Dodgers.
“My siblings were involved in the decision that was made,” Jeanie Buss stated in an interview with CNBC in February. “It’s about the Lakers and the greatness and what the fans expect, and you need resources and you need a direction. I think it’s fair to say that my family—we all have our different opinions and [are] living our lives, choosing what we want to do with our time, and this was the best decision for all six of us.”
As Jeanie Buss faces a new ownership landscape, it remains to be seen how her opinions will influence the future direction of the Lakers.
Special Credits: Image Courtesy of Eonline
