The Lakers have changed hands again, but the franchise’s most familiar figure is not going anywhere just yet. A record $12.5 billion transaction has shifted majority control from Mark Walter to an ownership group led by Bob Iger and Josh Kushner. The sudden move has created obvious questions about how the organization will operate under its new leadership. Yet, the biggest uncertainty may not concern the new owners at all. 

It is what happens to Jeanie Buss.

That question received a clear answer from Iger during an exclusive telephone interview with Khobi Price for the New York Post. Asked about Buss and the agreement she had reached with former owner Walter, Iger made a pressing reply. He emphasized that his group understands the significance of the Buss family’s connection to the franchise. 

“We have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she represents in the organization,” Iger said.

He confirmed that the new ownership intends to preserve the previous arrangement. Iger doesn’t intend to disrupt Buss’ position as the Lakers’ governor.

That matters because the Buss family didn’t simply hand over the franchise and walk away when Walter acquired majority control in 2025. The agreement included a five-year governance arrangement.

It allowed Jeanie Buss to retain authority over the Lakers’ basketball and business operations while the family maintained a minority stake.

Under that structure, Buss remained the team’s governor and continued representing the franchise at the NBA Board of Governors meeting.

The new ownership arrangement, therefore, doesn’t automatically erase the existing leadership framework.

For Lakers fans, that provides an important layer of continuity.

However, the change in ownership itself came at extraordinary speed. Walter’s TWG Global acquired majority control in June 2025 at a valuation of roughly $10 billion.

Just 14 months later, the franchise is reportedly changing hands again at $12.5 billion. That’s something to note!

The rapid turnaround has raised questions about why Mark Walter would sell so soon after making a significant transaction in sporting history. 

Walter’s broader business empire has faced financial and regulatory scrutiny, including investigations surrounding related-party lending and the financial operations of companies connected to TWG Global.

Against that backdrop, the offer from Iger and Kushner represented an opportunity for immediate liquidity.

But the Lakers themselves remain bigger than the circumstances surrounding the sale.

What does Iger’s arrival mean for the Lakers?

For the basketball operation, the most important question is whether the ownership change alters the authority of the people already running the team. At least initially, there is little indication that it will.

GM Rob Pelinka remains in place, while coach JJ Redick continues to oversee on-court operations. Iger has already spoken with both Buss and Redick. 

The speed of the transaction explains why the new ownership group has not yet settled into the franchise’s daily operations. The deal was reportedly signed within three days. Iger acknowledged that he has not spoken with Luka Doncic personally because the deal came together so quickly. 

“This is very new,” Iger said.

Iger may be one of the most recognizable executives in global entertainment, but he is still entering an organization with its own culture, hierarchy, and basketball infrastructure.

Moreover, his financial resources could eventually give the Lakers greater flexibility as they navigate an increasingly expensive landscape. Particularly when teams approach the restrictive second apron.

For now, though, Iger’s first priority appears less about making drastic moves than about reassuring.

He has inherited a franchise worth more than any NBA team before it. But he also inherits an established relationship with Jeanie Buss that he has explicitly promised to respect.

The Lakers’ ownership may have changed, yet the person carrying the Buss family’s legacy inside the organization remains firmly in place. 

And for a franchise built on legacy and continuity as much as star power, that may be the most important part of the $12.5 billion transition.