It's the end of an era, not just in Los Angeles, but for basketball and the NBA.
Maybe.
After nearly 50 years in the business of running the Los Angeles Lakers, the Buss family announced Monday that it's fully divesting its stake in the franchise.
In a statement shared with ESPN's Shams Charania Monday, the Busses announced that they're selling their remaining 17.8% share in the Lakers as part of the $12.5 billion sale of the team to Bob Iger and Josh Kushner.
"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 statement reads. "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."
#Monday
Maybe.
After nearly 50 years in the business of running the Los Angeles Lakers, the Buss family announced Monday that it's fully divesting its stake in the franchise.
In a statement shared with ESPN's Shams Charania Monday, the Busses announced that they're selling their remaining 17.8% share in the Lakers as part of the $12.5 billion sale of the team to Bob Iger and Josh Kushner.
"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 statement reads. "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."
#Monday
29 days ago
