Five Buss siblings are 'united' in selling their share of the Lakers

On Monday, it was announced that five of the six Buss siblings had decided to sell their remaining share of the Los Angeles Lakers to Josh Kushner and Bob Iger, who had already bought the majority share from Mark Walter. The decision to sell was made unanimously by the siblings, with only Jeanie Buss refusing to join her brothers and sisters in the sale.

In a statement on Tuesday, the Buss family expressed their gratitude for the opportunity to be part of the Lakers, describing the team as "one of the greatest privileges of our lives." They emphasized that their decision to sell was made to ensure what they believe is best for the Lakers, the fans, and the broader Los Angeles community.

The Buss siblings - Johnny, Jimmy, Janie, Joey, and Jesse - have unanimously decided to sell their family's remaining stake in the team. They reaffirmed their commitment to handle the process thoughtfully and respectfully, adhering to the proper procedures. The Buss family's journey with the Lakers began in 1979 when Dr. Jerry Buss, the late father of the six siblings, purchased the team from Jack Kent Cooke.

Over the next 34 years, the team won 10 NBA championships and reached the NBA Finals 16 times, turning it into a basketball powerhouse. After Jerry Buss's death in 2013, the remaining Buss siblings became the controlling owners under a trust he established. Jim Buss served as the executive vice president of basketball operations, but Jeanie Buss fired him in 2017 during a period when the Lakers failed to make the playoffs for six consecutive seasons.

Mark Walter purchased his share from the Buss family in 2021 for $10 billion, setting a record for a United States professional sports franchise. The Lakers' current ownership is valued at a staggering $12.5 billion, making it the most expensive sports team in the United States.