Jeanie Buss' Attorney Denies Rumors That Family Will Sell Lakers Stake to Bob Iger, Josh Kushner

After news broke that the Buss family would be selling its share of the Los Angeles Lakers on Monday, Jeanie Buss' lawyer sent a letter to her siblings' lawyers denying that she would sell her stake to Bob Iger and Josh Kushner.

Alex Sherman of CNBC posted details:

This comes less than a week after Iger and Kushner bought a majority stake of the Lakers from Mark Walter at a historic valuation.

According to ESPN's Shams Charania, the two businessmen were purchasing the remaining 17.8 percent ownership stake from the Buss family. The Buss family also issued a statement to Charania.

"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 Buss family said in a statement. "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."

ESPN's Ramona Shelburne added:

However, it does not appear the deal is done.

Per Charania, Iger and Kushner purchased approximately 65 percent of the Lakers at a $12.5 billion valuation last week, a new record for the sale of a sports team. Adding the Buss family's shares would give Iger and Kushner approximately 83 percent of the franchise.

Last week's deal came less than a year after Walter, who also owns the Dodgers, purchased the Lakers at a $10 billion valuation, which was also a record at the time.

The sale last year indicated that the Buss family was perhaps looking to move away from being in control of the Lakers after being in charge since the late 1970s.

When the team sold last year, the contract included a clause saying that Jeanie Buss would remain the team's governor, and Iger told the California Post's Khobi Price that he planned to honor that.

But if the family does, in fact, sell its shares, it would mean that Buss will no longer meet the required ownership percentage to remain in her position, according to Charania. The NBA requires ownership of at least 15 percent of the team to be a controlling owner or governor.

Kushner and Iger initially were interested in bidding for the league's expansion franchise in Las Vegas, but pivoted once they found out Walter was interested in selling the Lakers.

"We were involved in pursuing the new franchise in Vegas," Iger said. "And while that happened, it was suggested to us that maybe Mark Walter would be interested in selling his stake in the Lakers. And we immediately decided that given the value of the franchise and the iconic nature of the team, that we would be really smart to pursue it. The deal came together in three days."

A team like the Lakers, one of the most popular sports franchises in the world, is arguably a safer investment.

Under the Buss family's ownership, the Lakers have won 11 championships. Whether or not Iger and Kushner acquire, the duo will have big shoes to fill regardless after buying Walter's stake.