Will Jeanie Buss keep her Los Angeles Lakers governor role after record $12.5 billion sale? All you need to know

The Los Angeles Lakers are heading into another ownership chapter, and the biggest question hanging over the franchise is whether longtime governor Jeanie Buss stays in charge. Billionaire investor Josh Kushner and former Disney chief Bob Iger have reached a deal to buy the team from Mark Walter for a reported $12.5 billion, the highest price ever paid for a North American sports franchise. The agreement comes barely 14 months after Walter acquired a controlling stake from the Buss family for roughly $10 billion.

As the league prepares to review the sale, attention has turned squarely to Buss’s future. She has guided the Lakers as governor since 2013 and kept that role even after the first ownership change.

What is Jeanie Buss’ role as Los Angeles Lakers governor?

As Lakers governor, Jeanie Buss acts as the primary decision-maker on business matters and represents the team at NBA Board of Governors meetings. NBA rules require a governor to hold at least a 15 percent ownership stake to keep the role.

Buss, 64, has served as governor since 2013, the year her father, Dr Jerry Buss, died and left the franchise to his six children. She was named controlling owner in March 2017 and steered the team through championship runs and front-office transitions.

Will Jeanie Buss stay as governor after the sale to Josh Kushner and Bob Iger?

Jeanie Buss remained governor after the 2025 sale to Mark Walter. The Buss family kept roughly 15 to 17 percent of the team, enough to meet the NBA’s threshold. The terms of that deal also called for her to continue as governor for at least five years, keeping the family’s long connection to the franchise that began when Dr Buss bought the team in 1979.

The latest agreement covers only Walter’s shares. Reports indicate the Buss family’s remaining stake is not part of the transaction. That means Jeanie Buss still holds the ownership percentage needed to stay in the governor’s seat, at least for now.

New owners Kushner and Iger have publicly praised her leadership. In a joint statement they said: “As lifelong NBA fans, we are deeply honored for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have immense respect for the leadership and vision of Jerry and Jeanie Buss. Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

How much were the Lakers sold for this time?

The $12.5 billion price tag sets a new high for any North American sports franchise, topping the $10 billion valuation from Walter’s purchase less than two years earlier. The deal still requires approval from the NBA Board of Governors. The next meeting is expected in September, and the process can take several weeks.

What does this mean for the Los Angeles Lakers’ future under new ownership?

While the basketball side of the operation continues under existing executives, the ownership shift raises natural questions about day-to-day influence and long-term structure. Jeanie Buss has been a constant presence courtside and in league meetings even after the first sale. Her continued minority ownership and the five-year understanding from the prior deal give her a clear path to remain involved.

For now, the Buss family’s historic link to the Lakers is not fully severed. Jeanie Buss keeps her stake and the governor title that comes with it, providing continuity as Kushner and Iger prepare to take the reins of one of the NBA’s most valuable and storied franchises.