Dr. Patrick Soon-Shiong, a minority owner of the Los Angeles Lakers, has no intention of selling his 4% stake in the NBA franchise, according to his attorney. The statement comes after reports of a record-breaking $12.5 billion sale of the team to a group led by former Disney CEO Bob Iger and venture capitalist Josh Kushner.
“Dr. Patrick is absolutely not selling his minority share of the Lakers,” Chuck “Tiger” Kenworthy, the Soon-Shiong family attorney, told ESPN. Kenworthy added that Soon-Shiong will be a “supportive, active and engaged partner” with Iger and Kushner once the transaction with the previous owner, Mark Walter, is finalized. The family expressed excitement for the Lakers' future and anticipates continued success.
Soon-Shiong, a surgeon and businessman, originally purchased his stake in the Lakers from NBA legend Magic Johnson in 2010. He is also known for developing the cancer drug Abraxane and for owning the Los Angeles Times.
This marks the second time the Lakers have been sold in less than a year. The Buss family sold the team to Mark Walter in October 2025 for $10 billion. Walter then sold the franchise to Iger and Kushner. The deal is currently awaiting approval from the NBA Board of Governors.
The Buss family, which retains a 17.8% ownership interest, is reportedly engaged in a dispute over their share, with five siblings voting to sell while Jeanie Buss, the Lakers’ governor, contests the sale. NBA regulations require a franchise governor to hold at least a 15% stake.