The Lakers just sold for $12.5 billion. No typo. That’s the biggest number in the history of American sports team sales, and it happened less than 14 months after Mark Walter bought the franchise from the Buss family for $10 billion.
Walter flipped it. Bob Iger and Josh Kushner are the new controlling owners. The question every Lakers fan wants answered is simple. What happens to Jeanie Buss?
The Five-Year Contract That Still Matters
When Jeanie sold the majority stake to Walter in June 2025, she made him put something in writing. She stays on as team governor for at least five years, no matter what.
Iger already addressed it publicly. “We have every intention to honor the agreement that was made between Mark and Jeanie,” the new co-owner said this week.
Translation: Jeanie isn’t going anywhere. Not soon.
The Buss Family Kept Their Foot in the Door
Here’s the smart part. When the Buss family sold to Walter last summer, they retained a 17 percent minority stake. That number wasn’t random. The NBA requires team governors to own at least 15 percent, and the Busses gave themselves a two-point cushion on purpose.
That structural decision is why Jeanie still has real authority in Iger and Kushner’s Lakers. She holds a legally required governor role and keeps financial skin in the game.
What About Actual Basketball Decisions?
This is where things get interesting. Governor status gives Jeanie the title and the board seat. It doesn’t guarantee she’s picking the head coach or approving the next big trade.
Walter mostly stayed out of the way during his short ownership run. Iger and Kushner are different animals. Iger is a lifelong Clippers fan (yes, really) with decades of executive experience, and Kushner is a hedge fund heavyweight who understands how to squeeze value out of assets.
Neither of them dropped $12.5 billion to sit quietly in the background.
The Real Test Comes at Training Camp
Words are cheap in the NBA offseason. The real test of the Iger-Kushner-Buss dynamic will play out over the next 12 months. Who gets consulted on the LeBron contract situation? Whose voice wins when the front office is split on a trade deadline move?
If Jeanie is still visibly running basketball operations by Christmas, the agreement is being honored. If she gets pushed to ceremonial appearances at halftime while decisions happen elsewhere, that’s a different story.
The Bottom Line for Lakers Fans
Jeanie Buss is not being kicked out. Her ownership stake and multi-year governor contract make that impossible in the short term. But new owners eventually put their own stamp on a franchise, and $12.5 billion buys a lot of stamps.
Enjoy the continuity while it lasts. The Buss era in LA is on borrowed time, even if the countdown clock takes five years to hit zero.
A longtime sports reporter, Carlos Garcia has written about some of the biggest and most notable athletic events of the last 5 years. He has been credentialed to cover MLS, NBA and MLB games all over the United States. His work has been published on Fox Sports, Bleacher Report, AOL and the Washington Post.
