RESOLVING THE LEDGER
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See the full story · 1 sourcesSeveral Lakers legends weighed in on the stunning ownership upheaval surrounding one of sports’ most recognizable franchises, speaking exclusively with the California Post at the Harold & Carole Pump Foundation’s 26th Anniversary Celebrity Dinner on Thursday night at the Beverly Hilton. “I don’t think he [Dr. Jerry Buss] would be very happy with the state of the Lakers right now,” three-time Lakers champion Byron Scott said when asked about the family dispute .
New York Post
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Several Lakers legends weighed in on the stunning ownership upheaval surrounding one of sports’ most recognizable franchises, speaking exclusively with the California Post at the Harold & Carole Pump Foundation’s 26th Anniversary Celebrity Dinner on Thursday night at the Beverly Hilton. “I don’t think he [Dr. Jerry Buss] would be very happy with the state of the Lakers right now,” three-time Lakers champion Byron Scott said when asked about the family dispute . — 8/21/2026 New York Post
“That would be sad,” Horry told the California Post. “It would be strange and very, very sad.” Horry pointed beyond championships and banners to Jerry Buss’ lasting fingerprints on the NBA — the marriage of basketball and Hollywood, the Showtime Era, the Laker Girls and the Forum Club. “There are so many things like that that he brought to basketball that all these other organizations kind of piggybacked off of,” Horry said. “So for the Buss family not to be involved in some way would be such a sad thing.” — 8/21/2026 New York Post
In 1979, Jerry Buss bought the Lakers, the Forum and the Los Angeles Kings for $67.5 million. Now the Lakers alone are worth $12.5 billion. “It used to be, ‘Hey, I’m in this for the love of the game,’” said Ross Williams, a private-equity attorney and partner at law firm Reed Smith. “Like I measure the success of my investment based on whether we win championships. … And now it’s becoming apparent that these are really, really good financial investments.” — 8/21/2026 Los Angeles Times
For private equity — in which investors buy into companies that aren’t available on the public market — sports offers safe harbor. Media deals provide predictable revenue over several years. The NBA’s current deal that stretches to the 2035-36 season is worth $6.9 billion per year. Additional revenue streams with merchandise, sponsorships and ticket sales pile on. Owning an arena, which the Lakers do not, opens the floodgates for concerts and events that add to the revenue. “Sports is one of those rare instances where you can invest in something cool that also makes money,” Williams said . — 8/21/2026 Los Angeles Times
But what makes the Buss trust unusual, according to trust and estate experts, is a so-called “last-person-standing” provision that redistributes the shares to the living members if someone dies. “Unless a beneficiary sells his or her share while still alive, it passes to the remaining surviving beneficiaries as each passes, until there is only one left who gets it all,” Schneider said. “Supposedly, Jerry Buss did this to ensure that one of his kids would always own the team but it also creates a huge incentive to sell while still alive.” — 8/21/2026 New York Times
That sale still needs to be approved by the NBA’s Board of Governors. If it is, and if Jeanie Buss is able to ensure the Buss family retains at least 15 percent of the Lakers, will the new ownership group would honor Walter’s commitment that Jeanie could retain governorship for the near future? “I would imagine, without knowing for sure, that (the other NBA governors) would probably be happy to see the majority owners having the requisite control,” said Matt Mitten, a law professor at Marquette University Law School. “They’re the ones that are basically going to be that voice and vote when they have the league meetings. That’s an important thing to have that vote. It seems to me that if there’s someone, a group with a minority interest that’s holding that – and it’s a small minority interest (17.8) — that just seems to me like, at some point, there’s going to be a conflict between majority ownership and the Buss family ownership.” — 8/21/2026 New York Times
As the fight over what will happen to the Buss family's stake in the Los Angeles Lakers begins in the wake of Mark Walter's shocking sale of his majority ownership of the franchise to Bob Iger and Josh Kushner, one of the team's minority owners, Dr. Patrick Soon-Shiong, has no plans to sell his part of the team. "Dr. Patrick is absolutely not selling his minority share of the Lakers," Chuck "Tiger" Kenworthy, the Soon-Shiong family attorney, told ESPN on Thursday. "Bob Iger and Josh Kushner are good friends, and we will be joining them as supportive, active and engaged partners once they close the transaction with Mr. Walter. We are extremely excited about the Lakers' future and look forward to many more championship years." — 8/20/2026 ESPN
Dr. Soon-Shiong, 74, bought into the team in 2010, purchasing a 4% stake from iconic Lakers star Magic Johnson. Known for his innovative cancer research and treatment, Dr. Soon-Shiong is also a successful businessman and surgeon, with a net worth north of $15 billion, according to the Bloomberg Billionaires Index. — 8/20/2026 ESPN
Oh No He Didn't: Shaquille O'Neal on the Buss siblings reportedly selling their share of the Lakers: "I have great admiration for the Buss family. Learned a lot of business acumen from watching them. And I can remember how much Mr. Buss paid for the team. So if the rumors are true on how much they sold it for I think it was a monumental business move. It will be different not knowing that the Buss family is there with the Lakers, but I want to wish them well, want to congratulate them. Thank you for the great memories that they gave me. But from a business standpoint, for what they purchased it...
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