Buss family sells 17.8% stake in Lakers to Iger group / Photo: MARIO TAMA - GETTY IMAGES NORTH AMERICA/AFP/File
-
CNN, MS Now, Politico urge judge to extend White House access
-
Joy as USS Lincoln back home after troubled Gulf deployment
-
Trump administration to launch new vaccine research center
-
OpenAI says Iran, Russia influence ops busted
-
Russian strikes kill 30 in Ukraine frontline city, talks set in US
-
Anthropic bans 'cruel' behavior against its Claude AI
-
US military to livestream firing squad execution of Fort Hood shooter
-
Anne Carson's Nobel literature prize 'a proud moment for Canada': PM
-
Aces star Wilson wins record-extending fifth WNBA MVP
-
Montagliani to seek CONCACAF re-election in boost for Infantino: reports
-
Undefeated 49ers seek Seahawks revenge
-
Oil surges, stocks sink on jitters over US plans in Iran war
-
Madrid mourns evicted retiree, 'icon' of Spain housing protests
-
John Cena and Jessica Biel hit the gas in 'Matchbox: The Movie'
-
OpenAI revenue gap report rattles AI stocks
-
US, Ukrainians, Europeans to discuss 'new ideas' to end war
-
France pledges more teachers after school students vow no let-up
-
Unproven 'cures' pushed online amid plague concerns
-
Bordeaux confirmed in sixth tier of French football
-
Nigeria looks to ease fuel prices as election looms
-
Trump gives 'national treasure' Musk top US medal after rift
-
Prosecutors in Maradona death trial seek sentences up to 12 years
-
MLB proposes shortening season, reforming playoffs
-
Swiss captain Xhaka gets suspended fine for fake Covid cert
-
Crew splashes down after 8-month mission on International Space Station
-
Ex-prince Andrew raid warrants ruled 'unlawful' but UK police maintain probe
-
Protests, clashes as S. African anti-migrant tensions reignite
-
Two Latvians arrested inside UK military base: police
-
Russian data centre hit by drone in first for Ukraine war
-
Eckert 'forever grateful' for Southampton support over spy scandal
-
'Fighting for our future': France high school students vow no let-up
-
Venezuela's Maduro, wife hit with new US torture charges
-
Kyiv entering 'survival' mode amid Russian strikes surge: mayor tells AFP
-
Argentina friendlies no fairy tale for African footballers
-
Verdict due in Mexico trial over murders of Australia, US surfers
-
US suspending Microsoft from visa program: Vance
-
B2PRIME Welcomes Christina Barbash as Commercial Manager
-
Man City must 'stick together' during crisis, says Haaland
-
Russia forcing Kyiv into 'survival' mode before winter, mayor tells AFP
-
CAS opens hearing into Senegal AFCON title appeal
-
Closing arguments begin in Maradona death trial
-
UK police agree searches for ex-prince Andrew's homes 'unlawful': judge
-
UEFA president Ceferin to stand for re-election in 2027
-
After botched US execution, Christa Pike walking, mentally 'foggy': lawyer
-
Nearly 300,000 Nepalis at flood risk: study
-
'Stunned' Madrid mourns pensioner who sparked housing protests
-
Riyadh kindergarten hit by interception debris as Houthis say targeted airport
-
High school students turn out for new protests across France
-
Alex Bodi mizează, alături de CRIF, pe investiții transparente și pe prevenirea riguroasă a spălării banilor
-
Bid by Italy's Intesa bank to take over MPS gets boost
Buss family sells 17.8% stake in Lakers to Iger group
The Buss family will sell its 17.8% stake in the NBA's Los Angeles Lakers to a group led by former Disney chief executive Bob Iger that purchased majority ownership, according to multiple reports Monday.
The Athletic, ESPN, USA Today and other Los Angeles outlets revealed the move, which came after Iger and Joshua Kushner paid a record $12.5 billion for the team last week from prior majority owner Mark Walter.
"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," the family said in a statement.
"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."
Jeanie Buss, who was in the trust along with her five siblings, had been the Lakers' NBA governor since 2013, taking over after the death of her father, Jerry Buss.
The Buss family sold a majority stake in the Lakers to Walter last year for $10 billion, what was then the record for largest sale of a US sports team.
Iger and Kushner would own about 83% of the Lakers provided the deal is approved by NBA club owners, a decision expected at an NBA board of governors meeting next month in New York.
K.AbuTaha--SF-PST
