The Buss family's nearly half-century run with the Los Angeles Lakers is coming to an end. And this time, completely.
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The family has agreed to sell its remaining 17.8 percent ownership stake to the group led by Bob Iger and Josh Kushner, according to ESPN's Shams Charania.
The shares will be included in the larger transaction that will transfer control of the Lakers from Mark Walter to Iger and Kushner at a whopping $12.5 billion valuation.
The decision also means Jeanie Buss will step down as Lakers governor once the sale is completed.
That's a pretty dramatic change from what everyone expected just days ago.
When the Buss family sold controlling interest to Walter in 2025, Jeanie was expected to remain governor for at least five years. Iger recently indicated that he planned to honor that arrangement.
Then the family decided to cash out entirely.
"We love the Lakers, Laker fans and will continue to support Los Angeles," the Buss family said in a statement to ESPN. "But it is time to use this opportunity to move on and exit gracefully while we still can."
NBA rules require a controlling owner or governor to hold at least 15 percent of a franchise, according to Charania. With the Buss Family Trust selling all of its remaining shares, Jeanie will no longer qualify.
The transaction still requires NBA approval.
Once completed, it'll end one of the most famous ownership runs in American sports.
Jerry Buss purchased the Lakers in 1979. Forty-seven years and 11 NBA championships later, the Buss family is getting out of the Lakers business entirely.
