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Holy cow. 17.8% of $12.5 billion = $2.225 billion or $370.8 million each for the Buss siblings. Good time to cash out. Jerry Buss bought the Los Angeles Lakers in 1979 for $67.5 million.Shams Charania
@ShamsCharania
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 majority votes to allow trustees to execute the sale. It required four of six votes to enact the tag-along provision of Mark Walter's sale to Kushner and Iger, which valued the Lakers at $12.5 billion.