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Buss family votes 5-0 to sell Lakers stake

8/18/2026

41 5 Full Breakdown

Summary

Story summary

Buss family voted 5-0 to sell its 17.8% Lakers stake to Bob Iger and Josh Kushner for $12.5 billion.
Jeanie Buss, Lakers governor, abstained and challenged the vote.
Attorney Adam Streisand invoked a 2017 order requiring Jeanie Buss’s consent and demanded the vote be voided.
The transaction giving Iger and Kushner 83% control needs Board approval at the September 15-16 meeting and relies on a tag-along clause from Walter’s 2025 $10 billion sale.

History

Historical Context

Frank McCourt bought the Dodgers in 2004 for $430 million, financing the deal with debt that rose to over $430 million by 2010. MLB seized control in April 2011, appointed Tom Schieffer, and the club entered Chapter 11 bankruptcy before selling to Guggenheim for $2.15 billion in March 2012. That precedent frames league scrutiny of the 2024 Lakers $12.5 billion stake sale to Bob Iger and Josh Kushner.

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Story summary

Buss family voted 5-0 to sell its 17.8% Lakers stake to Bob Iger and Josh Kushner for $12.5 billion.
Jeanie Buss, Lakers governor, abstained and challenged the vote.
Attorney Adam Streisand invoked a 2017 order requiring Jeanie Buss’s consent and demanded the vote be voided.
The transaction giving Iger and Kushner 83% control needs Board approval at the September 15-16 meeting and relies on a tag-along clause from Walter’s 2025 $10 billion sale.

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