On Monday came the stunning news that five of the six Buss family siblings had voted to sell their remaining share of the Los Angeles Lakers that they hadn't sold to Mark Walter last year. They agreed to sell that remaining stake to Josh Kushner and Bob Iger, who had already agreed to purchase Walter's majority share last week. The lone dissenter among the Buss siblings is Jeanie Buss, the governor of the team. The other five issued a statement on Tuesday reiterating their decision to sell, per ESPN.
"The Los Angeles Lakers have never been just a basketball team. They have been one of the greatest privileges of our lives," the Buss family said in a statement to ESPN's Shams Charania on Tuesday. "Our focus has always been on what we believe is best for the Lakers, the fans who have supported this franchise for generations and the greater Los Angeles community. "Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family's remaining stake, and we remain united in that decision. We intend to move forward thoughtfully, respectfully and through the appropriate process."
It was Dr. Jerry Buss, the late father of the six Buss siblings, who first purchased the Lakers from Jack Kent Cooke in 1979. In the 34 years he owned the team, it won 10 NBA championships and reached the NBA Finals 16 times, transforming it from a bridesmaid franchise into the gold standard of basketball. After he died in 2013, the younger Buss became the controlling owner according to the trust he set up. Jim Buss had become executive vice president of basketball operations, but Jeanie Buss fired him in 2017 amidst a stretch during which the Lakers missed the playoffs six straight times. Kushner and Iger agreed to purchase Walter's majority share at a reported valuation of $12.5 billion, which is a record for a United States pro sports franchise. Walter had bought his share last year from the Buss family for $10 billion, which, at that time, was also a record. The Buss family currently owns a 17.8% share of the Lakers. This article originally appeared on LeBron Wire: Five Buss siblings are 'united' in selling their share of the Lakers