Buss family will sell remaining stake in Los Angeles Lakers

The Buss family has announced it will sell its remaining 17.8% stake in the Los Angeles Lakers to new majority owners, Joshua Kushner and Robert Iger, on Monday, August 17. The Buss family expressed their love for the Lakers and Laker fans, stating they will continue to support the team, but decided to sell the shares as part of the ongoing transaction.

This follows the record-breaking $12.5 billion purchase agreement between Kushner, Iger, and the Los Angeles Dodgers co-owner, Mark Walter, which was reached just 10 months after the Dodgers were sold to Walter by the Buss family.