Bob Iger told Los Angeles Lakers fans that him and Josh Kushner intended to honor the agreement between Jeanie Buss and Mark Walter that allowed her to stay in place as team governor. There was speculation as to how true that was. Now, the conversation is entirely different.
Shams Charania reported the Buss family will be selling their remaining 17.8 percent of ownership stake in the Lakers to Iger and Kushner. This brings a definitive answer to the question of whether Jeanie will remain as team governor. That would be no.
Charania explained that with the Buss family selling their shares, Jeanie no longer has the required ownership percentage to remain governor for the Lakers. The minimum would have been 15 percent for Jeanie to remain in her position. It is not hard to do the math on that one.
This news officially closes the chapter on a legendary run for the Buss family in Lakers history. Jerry Buss ushered in an era of excellence for the franchise. Jeanie had fewer fans, but even she oversaw a championship for the organization. It is officially Iger and Kushner's time in Los Angeles.
Lakers will need a new governor after Bob Iger and Josh Kushner take over
The Buss family issued a statement to ESPN on their decision to move on amid the processing sale to Iger and Kushner.
"We have decided as a family to sell the remaining ... shares to the Bob Iger group as part of the ongoing transaction. 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."
Perhaps they did not want to partake in any sort of power struggle. Perhaps the money offered to buy them out was worth their time. Perhaps the recent example of what happened with Mark Cuban and the Dallas Mavericks had enough warning signs to consider.
In any case, the Buss family is out and Jeanie will eventually leave a hole that needs to be plugged as governor.
Chris Paul is a person whose name has come up a lot since it was shockingly announced the Lakers were due to be sold, again. Paul's connection with Iger could earn him a seat at the table, or at the very least, warrant a discussion.
One way or another, though, the job will need to be filled. Iger and Kushner will be allowed the opportunity to definitively make their claim to being the new owners by installing a figurehead at governor who they believe in. Whoever that is, it will not be Jeanie.
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