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Few professional sports franchises in North America are as storied as the Los Angeles Lakers. With 17 NBA championships, a legendary roster of alumni led by Magic Johnson, Kareem Abdul-Jabbar, Shaquille O’Neal, Kobe Bryant, Jerry West and LeBron James and the author of some of the most memorable moments in sports history, they are the most popular team in the league for good reason.
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Under the stewardship of the Buss family, headed by the late Dr. Jerry Buss and later on, his daughter Jeanie, the Lakers regaled sports fans with their spectacular play on the floor and sheer charisma off it. Simply put, the Lakers had that “it” factor, thanks in large part to the Buss family’s efforts to ensure their players were larger-than-life and in the best position to succeed in every era.
The Buss family Lakers investment breakdown:
Purchase price (1979): $67.5 million
Sale valuation (2026): $12.5 billion
Return on investment: 18,500%+
Years of ownership: 46
NBA Championships during era: 11
One of the greatest sports investments in HISTORY. pic.twitter.com/TRAIjN3SCO
– 𝐏𝐮𝐫𝐩𝑮𝒐𝒍𝒅 (@PurpGoldLakers) August 17, 2026
However, it appears that the Buss family’s ownership of the purple and gold is coming to an end, with news of Mark Walter’s sale of the franchise to Bob Iger and Josh Kushner for a reported $12.5 billion. Add to that the recent news that the Buss family sold their remaining 17.8 percent ownership stake – even though Jeanie contested the family’s vote to sell – and it looks like the Lakers are not only flipping the page to another chapter but also writing a brand-new book altogether.
Breaking: The Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to new majority owners Josh Kushner and Bob Iger, sources tell ESPN.
The Buss family trust – composed of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse – received… pic.twitter.com/hPVqOvsuZ0
– Shams Charania (@ShamsCharania) August 17, 2026
Former NBA big man Olden Polynice commented that it’s sad to see a “mom-and-pop” operation that had been successful for so long become just another business property that savvy entrepreneurs can flip for a quick billion or two.
Lakers have become just another business asset
What set the Lakers apart from other NBA teams was that they were run by the Buss family with an iron fist after Jerry bought the franchise from Jack Kent Cooke on May 29, 1979, for $67.5 million. When Jerry passed away in 2013, the Lakers remained firmly in the Buss family as his 66 percent controlling ownership was passed to his six children through a family trust
However, with the majority of the six siblings deciding to rid themselves of the Lakers, it’s clear the Buss era is coming to a close, which Polynice bemoaned.
“The Lakers used to be a mom-and-pop type of operation. All of a sudden, they’ve become an entity and property, and that’s what it’s become,” Polynice
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“Because we never thought Jeanie would sell. I didn’t. And then all of a sudden, it happened. And so now we’re like, you go from 10 to 12.5 billion in less than a year.”
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No longer about basketball
A significant reason the Lakers continued to achieve success across different eras was that the Buss family loved the game, the players, and, most of all, winning. They wanted the biggest names in the sport, and, for the most part, they got them. From Magic and Kareem, to Shaq and Kobe, to LeBron and Luka Doncic, the Lakers are a big-market squad tailor-made for the brightest superstars.
However, Polynice believes the new ownership group only sees the Lakers as another gaudy business asset in their portfolio.
“I think all these guys, they know each other, and they say, ‘Hey, man, I’m going to buy an NBA team. I’m going to hold it for a couple years. You come in, you buy it from me, okay? My value goes up, and then you do the same thing. We just wash and repeat,'” Polynice said.
“And that’s what I think we’re seeing now because the Lakers were the last bastion of hope, and it’s done now. Because how do you sell a storied franchise like that in less than a year?” he continued. “And that makes no sense…These people, they don’t care if they know basketball or not.”
Nobody saw the Lakers being sold to two different sets of owners in less than two years, but it speaks to the unpredictable nature of the NBA game and the billion-dollar business it is.
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This story was originally published August 18, 2026 at 4:24 AM.