Lakers minority owner Dr. Patrick Soon-Shiong not selling 4% stake - ESPN
As the fight over what will happen to the Buss family's stake in the Los Angeles Lakers begins in the wake of Mark Walter's shocking sale of his majority ownership of the franchise to Bob Iger and Josh Kushner, one of the team's minority owners, Dr. Patrick Soon-Shiong, has no plans to sell his part of the team.
«Dr. Patrick is absolutely not selling his minority share of the Lakers,» Chuck «Tiger» Kenworthy, the Soon-Shiong family attorney, told ESPN on Thursday. «Bob Iger and Josh Kushner are good friends, and we will be joining them as supportive, active and engaged partners once they close the transaction with Mr. Walter. We are extremely excited about the Lakers' future and look forward to many more championship years.»
Dr. Soon-Shiong, 74, bought into the team in 2010, purchasing a 4% stake from iconic Lakers star Magic Johnson. Known for his innovative cancer research and treatment, Dr. Soon-Shiong is also a successful businessman and surgeon, with a net worth north of $15 billion, according to the Bloomberg Billionaires Index.
The six Buss siblings still own a collective 17.8% of the team after selling their majority share to Walter in a deal that was ratified by the NBA board of governors in October.
Five of the siblings voted to sell their remaining portion of the team to Iger and Kusher at the $12.5 billion franchise valuation they paid to Walter.
«Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family's remaining stake, and we remain united in that decision,» the five siblings said in a statement provided to ESPN's Shams Charania. «We intend to move forward thoughtfully, respectfully and through the appropriate process.»
There was a tag-along provision included in the previous sale to


