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Lakers Minority Owner Has No Plans to Sell 4% Stake
The billionaire surgeon, who bought the stake in 2010 from Magic Johnson, said he will remain a supportive partner as the ownership dispute unfolds.
- On Thursday, Lakers minority owner Patrick Soon-Shiong confirmed he is not selling his 4% stake in the franchise, with family attorney Chuck Kenworthy stating the investment remains a long-term commitment.
- Former Disney chief Bob Iger and venture capitalist Joshua Kushner agreed last week to buy controlling interest in the Lakers from Mark Walter at a $12.5 billion valuation, pending NBA approval.
- The five Buss siblings—Johnny, Jimmy, Janie, Joey, and Jesse—announced their decision to sell the family's remaining 17.8% stake, though Jeanie Buss is currently attempting to block this divestment.
- Under NBA guidelines, Buss must maintain a minimum 15% ownership interest to remain acting governor, requiring her to acquire an additional 12% stake if her siblings proceed with their sale.
- While Iger stated he intends to honor his agreement with Buss, he added, "If something changes, then it changes," leaving the Lakers ownership transition uncertain.
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Dr. Patrick Soon-Shiong Not Selling Lakers' Stake Amid Buss Family Dispute
Los Angeles Lakers minority owner Dr. Patrick Soon-Shiong has no plans to sell his stake in the franchise, according to his attorney. The announcement comes as a dispute unfolds within the Buss family following Mark Walter's agreement to sell his majority ownership to Bob Iger and Josh Kushner. "Dr. Patrick is absolutely not selling his minority share of the Lakers," family attorney Chuck "Tiger" Kenworthy told ESPN Thursday. "Bob Iger and Josh …
Patrick Soon-Shiong 'Absolutely' Won't Sell Lakers Share to Iger, Kushner Amid Buss Family Dispute
Amid the ongoing Buss family drama tied to the Los Angeles Lakers sale to Bob Iger and Joshua Kushner, another one of their minority owners has no plans to sell his stake in the franchise.
·San Francisco, United States
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Coverage Details
Total News Sources12
Leaning Left3Leaning Right2Center3Last UpdatedBias Distribution38% Left, 37% Center
Bias Distribution
- 38% of the sources lean Left, 37% of the sources are Center
38% Left
L 38%
C 37%
R 25%
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