Jeanie Buss & Family Selling Remaining 17.8% of Lakers Stake to New Owners Disheartens Fans – “Sad Day for LA”

Jeanie Buss was going to continue as the Lakers' Governor until 2030 even though Mark Walter was the majority owner.

Jeanie Buss & Family Selling Remaining 17.8% of Lakers Stake to New Owners Disheartens Fans – “Sad Day for LA”

Lakers owner Jeanie Buss (Image via Keith Birmingham/X)

After majority owner Mark Walter sold his share in the Los Angeles Lakers to Josh Kushner and Bob Iger for $12.5 billion, the most important question many raised was about Jeanie Buss‘ position with the franchise.

When she brokered the sale first to Walter, they agreed in writing that the matriarch would continue to be the team’s Governor for the next five years. In that time, she would oversee all aspects of the team before eventually handing it over to the new owners.

After the Kushner-Iger deal came about, the previous agreement with Walter could have been nullified had the duo asked the CEO of Guggenheim Partners to make it that way.

However, Iger, the former CEO of the Walt Disney Co., confirmed that the agreement was still in place, and that Buss was going to continue as Governor until 2030.

Now, though, all that has changed. ESPN’s Shams Charania broke the news that Jeanie Buss and her brothers received a majority vote to execute the sale of their share to the new owners.

That means that along with the 65% they received from Walter, Josh Kushner and Bob Iger would now also get the 17.8% Jeanie Buss and her brothers owned in the iconic purple-and-gold franchise. More importantly, it brings the curtains on the Buss family’s legacy as owners of one of the most marketable sports teams in the world.

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Fans react to Jeanie Buss and family exiting Lakers

Basketball fans, and particularly those who ardently follow the Los Angeles Lakers, were still coming to grips with Mark Walter exiting the franchise with the $2.5 billion profit he amassed in just 14 months in his pockets.

Then to hear about the Buss family exiting the organization completely left them with various reactions. While some were happy to see Jeanie Buss leave the team, blaming her decisions for the lack of success, others were saddened.

The name ‘Buss’ was a mainstay in the league, and fans felt that not hearing about them anymore would be a bitter pill to swallow. Check out examples of those reactions below.

Jeanie Buss and her brothers were always labeled as the poorest in the league. Unlike other owners, they did not have businesses outside of the Lakers to lean on. Therefore, this sale will enable them to pocket significant sums that should keep them content for a long time.

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Skip Bayless wonders whether new owners are capable of making ‘championship decisions’

With Jeanie Buss out of the picture, it is a given that the likes of Kurt Rambis and his wife, Linda, who is also her best friend, will also leave the Lakers. It is also possible that the current President of Basketball Operations, Rob Pelinka, will be shown the door soon.

New Lakers owners Josh Kushner & Bob Iger
New Lakers owners Josh Kushner & Bob Iger (Image via Purple & Gold Brazil/X)

He is already on shaky ground given his lack of substantial moves over the years. However, more than anything, one journalist wonders who will now make the decisions to lead this organization back to its glory days, now that Jeanie Buss is gone.

End of a Lakers Era that began 47 years ago when Jerry Buss bought the team: Jeanie, the daughter he groomed to take over, is out. Now, Laker fans, which new co-owner has FINAL SAY: Josh Kushner or Bob Iger? And how good will either be at making championship decisions?

Skip Bayless wrote on X

His question is based on the thought that once Jeanie Buss, her entourage, and Mark Walter’s executives are out, both Josh Kushner and Bob Iger will have to make decisions. Even though his former colleague, Stephen A. Smith, believes that their boss is one of the best executives in history, their lack of experience left Bayless to wonder how good the team will be.

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