The Buss family finalizes their departure from the Lakers by selling their last stake

The family Bus decided to sell its last remaining stake in Los Angeles Lakers17.8%, to the new owners, Josh Kushner and Bob Igeraccording to a statement from the Buss themselves published by the ESPN network.

This decision comes after businessmen Kushner and Iger closed the purchase of the Lakers last week for an estimated $12.5 billion.

“As a family, we have decided to sell the remaining shares of the Buss Family Trust to the group headed by Bob Iger, as part of the ongoing transaction. We love the Lakersto the Lakers fans and we will continue to support Los Angeles; “but the time has come to take this opportunity to step aside and exit gracefully while we still can,” the note reads.

The Buss family maintained a 17.8% stake in the Lakers after selling majority control to Mark Walter.

After less than a year, Walter reached an agreement to sell the Los Angeles franchise to Kushner and Iger for $12.5 billion.

“As lifelong fans of the NBA, we are deeply honored by the opportunity to become custodians of the Los Angeles Lakers, one of the most iconic sports franchises in the world. We have tremendous respect for the leadership and vision of Jerry and Jeanie Buss,” Kushner and Iger said.

“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,” they added.

Josh Kushner invests in technology companies through Thrive Capital, while Bob Iger advises him on long-term investments linked to iconic brands and cultural assets, such as sports franchises.