Lakers Sold Again in Massive 12.5 Billion Dollar Deal as Buss Family Feud Resurfaces

A secret deal during a European holiday

Bob Iger was on his yacht in Europe on August 12 when he helped seal a massive sports deal. Over 72 hours of phone calls from Italy, Iger worked with Josh Kushner and Lakers owner Mark Walter to complete a 12.5 billion dollar sale of the team.

The surprise deal came just one year after Walter bought the franchise from the Buss family for 10 billion dollars. This new sale puts the Lakers into another major transition period while the team competes with a rebuilt roster structured around star player Luka Doncic.

Tension inside the Buss family

The agreement has reignited public arguing among the six Buss siblings. When Jeanie Buss first arranged the 10 billion dollar sale to Walter, her younger brothers Joey and Jesse wanted to be part of the bidding process. They had offered a lower valuation, but Jeanie negotiated directly with Walter.

Although all six siblings eventually voted for the sale, family relationships quickly broke down. Within two months, Jeanie approved firing Janie, Joey, and Jesse from their team roles. Janie stated that the move made her feel like a crumpled up piece of paper thrown into the trash. She added that her late father, Dr. Jerry Buss, would not be happy with how things happened.

Tensions flared again when the family faced higher costs for game tickets and hospitality right before the playoffs.