Lakers minority owner Dr. Patrick Soon-Shiong to retain 4% stake
The 74-year-old investor’s decision removes a key variable from the ongoing Buss family dispute, narrowing the options for Jeanie Buss to secure the ownership threshold required to remain acting governor.
Dr. Patrick Soon-Shiong has confirmed he will retain his 4% minority stake in the Los Angeles Lakers, a move that simplifies the complex ownership landscape surrounding the franchise. His attorney, Chuck "Tiger" Kenworthy, told ESPN on Thursday that Soon-Shiong is "absolutely not selling" his share, positioning the 74-year-old businessman to join new majority owners Bob Iger and Josh Kushner as a supportive partner.
This confirmation arrives as the Buss family siblings navigate a legal and strategic dispute over their remaining collective 17.8% stake. Five siblings—Johnny, Jimmy, Janie, Joey, and Jesse—have voted to sell their portion of the team to Iger and Kushner at the $12.5 billion valuation established in the recent sale from Mark Walter. The group stated in a statement provided to ESPN that they intend to move forward "thoughtfully, respectfully and through the appropriate process."
Jeanie Buss, the current acting governor, remains the lone holdout contesting her siblings' plans. Her legal team argues that a 2017 court ruling requires approval from co-trustees, including herself, to effectuate any sale of the family’s shares. Under NBA guidelines, an acting governor must hold at least 15% of the team. If the sale proceeds, Buss would hold just under 3% and would need to acquire an additional 12% to retain her position.
With Soon-Shiong’s stake remaining private, the pool of available shares for Buss to target has narrowed. The only other minority owner she could potentially approach is Ed Roski Jr., who owns approximately 3% of the team. This makes it difficult for Buss to reach the requisite ownership threshold without Iger, Kushner, or her siblings selling her back a portion of the franchise.
Soon-Shiong, who purchased his stake from Magic Johnson in 2010, expressed excitement about the team's future. Kenworthy noted that Soon-Shiong views Iger and Kushner as "good friends" and anticipates "many more championship years." The new majority owners’ transaction with Walter is expected to close, finalising the transfer of the controlling interest.
The situation also highlights the rapid turnover of the franchise, which Walter acquired for $10 billion in October 2025 before selling it at a $12.5 billion valuation. While Iger has stated he intends to honour Walter’s agreement to keep Buss in her role for at least five years, he added that if circumstances change, the arrangement may shift.
