Buss family votes to sell its final Lakers stake to Iger, Kushner

LOS ANGELES — The Buss family has voted to sell its 17.8% minority ownership of the Los Angeles Lakers to new majority owners Josh Kushner and Bob Iger, ESPN and The Athletic are reporting.

The decision Monday by the six children of late owner Jerry Buss will end the family’s 47 years in an ownership role with the 17-time NBA champion franchise. The move also appears to end Jeanie Buss’ tenure as the Lakers’ governor.

“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction,” the Buss family said in a statement issued to ESPN. “We love the Lakers, Laker fans and will continue to support Los Angeles, but it is time to use this opportunity to move on and exit gracefully while we still can.”

Jeanie Buss, the Lakers’ governor since Jerry Buss’ death in 2013, led the family’s decision to sell a controlling stake in the Lakers to Dodgers owner Mark Walter last year at a valuation of $10 billion.

Not all of the six Buss siblings — Jeanie, Jim, Johnny, Janie, Joey and Jesse — were in favor of the deal despite…

Original source: https://www.nbcnews.com/business