Full Breakdown
Dr. Patrick Soon-Shiong Declines to Sell His 4% Lakers Stake Amid Ownership Transition
8/21/2026, 4:22:54 AM
Core Development: Firm Stance on the Minority Share
Attorney Chuck “Tiger” Kenworthy told ESPN that Dr. Patrick Soon-Shiong is not planning to sell his 4 percent ownership in the Los Angeles Lakers. He said Soon-Shiong will remain a “supportive, active and engaged partner” after the pending transaction that transfers the franchise from Mark Walter to Bob Iger and Josh Kushner closes.
Background & Context
Earlier this year Mark Walter sold his majority interest to Iger and Kushner at a $12.5 billion valuation, after buying the team for $10 billion in 2025. The Buss family, owners since 1979, holds the remaining 17.8 percent stake. Five of the six Buss siblings have voted to sell their shares to Iger and Kushner, while Jeanie Buss, the acting governor, is contesting the move. NBA rules require a minimum 15 percent ownership to serve as governor; Jeanie’s share would fall to roughly 3 percent if the siblings’ sale proceeds, prompting discussion of how she might retain the role.
Key Figures & Groups
- Dr. Patrick Soon-Shiong – billionaire surgeon-entrepreneur, 4 percent owner.
- Chuck “Tiger” Kenworthy – attorney for Soon-Shiong.
- Bob Iger – former Disney CEO, buyer of the majority stake.
- Josh Kushner – venture-capitalist partner in the purchase.
- Mark Walter – previous majority owner.
- Jeanie Buss – Lakers governor and co-trustee of the JAB Trust.
- Buss siblings (Johnny, Jimmy, Janie, Joey, Jesse) – holders of the family’s remaining stake.
Data & Statistics
- 4 percent – Soon-Shiong’s share, acquired from Magic Johnson in 2010.
- 17.8 percent – total Buss family ownership after the majority sale.
- $12.5 billion – valuation of the Iger/Kushner transaction.
- 15 percent – NBA threshold for a team governor.
- ~3 percent – Jeanie Buss’s projected share if her siblings sell.
Official Statements & Responses
Kenworthy reiterated that Soon-Shiong will join Iger and Kushner as “supportive, active and engaged partners” once the deal closes, emphasizing optimism for future championship prospects.
Adam Streisand, Jeanie Buss’s lawyer, cited a 2017 court order that binds the co-trustees to maintain the minimum ownership required for her to remain controlling owner.
Conflicting Reports & Gaps
Sources differ on the NBA Board’s approval status for the Iger/Kushner purchase. ESPN notes the board ratified Walter’s acquisition in October, while the *New York Post* reports the latest transaction is still pending board approval. No definitive update is provided in the available excerpts.
Verbatim Quotes
- “Bob Iger and Josh Kushner are good friends, and we will be joining them as supportive, active and engaged partners once they close the transaction with Mr. Walter,” — Kenworthy, Soon-Shiong’s attorney
- “Pursuant to the JAB Trust and the attached Court Order,” — Adam Streisand, Jeanie Buss’s lawyer
What’s Next
The NBA Board of Governors must formally approve the Iger/Kushner acquisition before it becomes final. If the five Buss siblings proceed with their sale, Jeanie Buss will need to secure an additional 12 percent of the franchise to meet the 15 percent governor requirement, potentially involving negotiations with other minority owners such as Ed Roski Jr., who holds roughly 3 percent. The outcome will shape the Lakers’ ownership structure and governance for the coming decade.
