The Los Angeles Lakers are considered NBA royalty, but they’ve made headlines in recent years for numerous organizational changes, including at the ownership level.
Now, ESPN NBA insider Shams Charania revealed the latest stunning development involving the Lakers’ ownership.
Lakers Fans React As Buss Family Cuts Ties With Team
Charania revealed that the Buss family has decided to sell its remaining 17.8% ownership stake in the Lakers to new majority owners Joshua Kushner and Bob Iger.
Dr. Jerry Buss bought the Lakers in 1979, the organization boasted a dynasty in the 1980s, and Buss’ daughter Jeanie eventually became his successor.
The Buss family issued a statement to explain their decision to sell: “We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction. We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”
Lakers fans had some strong reactions to the news.
“The Lakers are now officially a venture capital side project with better uniforms,” one user on X said.
Buss family finally sold the remaining 17.8%. The Lakers are now officially a venture capital side project with better uniforms.
— Nuelxx (@nuel_szy) August 17, 2026
“Jeanie leaving the Lakers is sad. But on the bright side, Rob Pelinka can finally be fired. This is a net positive ngl,” another fan added.
The future of Pelinka, who has been in the Lakers’ front office since 2017 and who signed a contract extension last year, will be a hot topic as the organization enters a new era.
“A sad day for Dr Jerry Buss’ legacy. I’m looking forward to the changes. Please announce Rob Pelinka firing next!” another fan added.
A sad day for Dr Jerry Buss’ legacy. However, I’m looking forward to the changes. Please announce Rob Pelinka firing next!
— Ashcan Andy (@AshcanAndy88) August 17, 2026
“End of an era; but it was time for the Buss Family to move on. Crazy to think how much pro sports have increased in value. Ballmer bought the Clippers for $2 bil just 12 years ago,” wrote one fan.
“Dr Buss is rolling in his grave over these children,” added another.
“I may be in the minority here but this just feels like a sad day for LA,” another fan added.
Legendary family forever 💜💛 pic.twitter.com/hsEq0scWgL
— The Watcher (@MrSportsWatcher) August 17, 2026
Another Lakers fan said, “Legendary family forever.”
Going forward, the Lakers will be built around face-of-the-franchise Luka Dončić, and he will try to lead the organization to its 18th NBA championship as Los Angeles ushers in a new era.
