The Lakers’ latest ownership shakeup is not prompting Dr. Patrick Soon-Shiong to leave the franchise.
The billionaire physician and businessman intends to retain his 4% interest as Bob Iger and Josh Kushner prepare to take control of the team in a record $12.5 billion transaction with Mark Walter.
“Dr. Patrick is absolutely not selling his minority share of the Lakers,” Soon-Shiong family attorney Chuck “Tiger” Kenworthy told ESPN.
“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.”
Soon-Shiong’s connection to the organization dates back to 2010, when he bought his minority interest from Lakers icon Magic Johnson.
The 74-year-old built much of his reputation in medicine and business, including his work developing the cancer treatment Abraxane. He later became the owner and executive chairman of the Los Angeles Times.
His decision provides some stability during an unusually turbulent period for the Lakers’ ownership group. Walter only took control of the franchise from the Buss family in October 2025 in a $10 billion sale.
Less than a year later, he reached an agreement to transfer control to Iger and Kushner for $12.5 billion, pending approval from the NBA Board of Governors.
Another ownership issue is unfolding separately within the Buss family. They still control a combined 17.8% interest, but the siblings are divided over what should happen to those shares.
Five reportedly supported a sale, while Jeanie Buss is fighting the move. That dispute could ultimately affect Jeanie’s position with the organization.
NBA regulations require the individual serving as a team’s governor to maintain ownership of at least 15% of the franchise.
Lakers minority owner Dr. Patrick Soon-Shiong not selling stake in team https://t.co/D4euYfszoV pic.twitter.com/vgOsml2gug
— New York Post (@nypost) August 20, 2026
