Buss Family to Sell Remaining Lakers Stake to Kushner and Iger
The deal would give Kushner and Iger 83% control of the iconic NBA team.
1Buss Family's Exit
The Buss family plans to sell their remaining 17.8% stake in the Lakers to Josh Kushner and Bob Iger. This sale will result in Jeanie Buss losing her title as team governor under NBA rules. The family voted last week to approve the sale, which coincides with Mark Walter's federal investigation.
2Kushner and Iger's Control
Kushner and Iger acquired 65% of the Lakers from Mark Walter last week for $12.5 billion. With the Buss family's sale, their combined stake would reach 83%. This marks one of the largest club transfers in NBA history. The acquisition occurred at an unusual speed for sports franchise ownership changes.
3Team Valuation
Forbes estimated the Lakers' value at $10 billion in January 2024, ranking them as the 18th most valuable sports team globally. Walter's sale price represents a 25% premium over the valuation from 14 months ago. The Lakers remain one of the NBA's most profitable franchises.
4Federal Investigation Link
Mark Walter, also owner of the Dodgers and Sparks, faces a federal probe into alleged improper fund transfers by his insurance companies. The timing of the sale has sparked conspiracy theories. Kushner's familial ties to former President Trump have fueled additional speculation.
5NBA Ownership Rules
NBA rules require team governors to hold at least 15% ownership. Jeanie Buss will no longer meet this requirement post-sale. Such rapid ownership changes are rare in sports clubs, where owners typically maintain control for decades.
6End of Family Legacy
Jerry Buss's six children managed Lakers shares through a family trust. This sale ends the Buss family's control since 1979. Jeanie, Janie and Joey Buss will oversee the sale process. The family's decision has made waves in the sports industry.
7Political Connections
Josh Kushner's Democratic ties and relation to Jared Kushner have brought political dimensions to the sale. The White House clarified Josh has no connection to the Trump administration. The intersection of sports and politics remains a contentious issue in the U.S.
8New Era in Sports Industry
This sale reflects the growing trend of professional sports teams being acquired by investment funds and private equity. The $12.5 billion deal sets a new record for NBA franchises. The transfer of an iconic brand like the Lakers could shift power dynamics within the league.
Original article: Forbes - Business — Buss Ailesi Lakers'taki Kalan Hisselerini Satıyor