Shaquille O’Neal did not buy the Los Angeles Lakers, despite a viral social media report claiming the franchise legend had purchased the Buss family’s remaining shares.
The claim spread quickly on August 18 after The Box Score PH posted on Facebook, Instagram and Threads that O’Neal had purchased “all of the Buss family’s shares” and was set to become the Lakers’ next controlling owner. No credible outlet, NBA announcement or Lakers statement has corroborated that report. The timing, however, landed directly in the middle of a very real and unusually complicated fight over who will own the Lakers next.
That distinction matters because there actually is movement involving the Buss family’s remaining stake — just not involving Shaq.
What Actually Happened With the Lakers’ Ownership
The Lakers’ ownership situation has changed dramatically over the past year.
The NBA approved Mark Walter’s purchase of a majority interest in the franchise in October 2025 after the Buss family agreed to sell control at a reported $10 billion valuation. The league said at the time that the Buss family would retain an ownership interest and that Jeanie Buss would remain the Lakers’ governor for at least five years.
Now another change is in motion.
The Associated Press reported in August that investor Josh Kushner and former Disney CEO Bob Iger agreed to purchase the Lakers in a deal valuing the franchise at $12.5 billion. The transaction still requires NBA approval.
The remaining Buss family stake has since become the center of a family dispute.
The Associated Press reported August 17 that Jeanie Buss is contesting her siblings’ attempt to sell the family’s remaining 17.8% stake to Kushner and Iger. Buss’ attorney contends that the transaction cannot proceed without the required approval of the trust’s co-trustees.
Axios reported that selling those remaining shares could require Kushner and Iger to spend approximately another $2.2 billion.
None of those reports identifies O’Neal as a buyer.
In other words, the viral “Shaq buys Lakers” claim arrived while the identity of the Lakers’ future ownership group was already generating legitimate headlines — but it inserted one very famous name who is not part of the reported transaction.
Why a Shaq-Lakers Ownership Claim Could Spread So Fast
Few names are easier to connect with the Lakers than O’Neal.
The 54-year-old, born March 6, 1972, became one of the defining players of the franchise’s modern era after joining Los Angeles in 1996. Alongside Kobe Bryant, O’Neal helped lead the Lakers to three consecutive NBA championships from 2000 through 2002 and won Finals MVP all three years.
And although his Lakers run began in free agency, O’Neal originally entered the NBA four years earlier. The Orlando Magic selected him with the No. 1 overall pick in the 1992 NBA Draft before he eventually left Orlando for Los Angeles.
He has also built a highly visible business career since his playing days, making the idea of “Shaq Lakers owner” just plausible enough at a glance to travel on social media.
But recognizable name plus believable premise is not the same thing as a transaction.
As of August 18, there has been no announcement from O’Neal, the Lakers or the NBA that Shaq purchased the Buss family’s shares.
Shaq Isn’t the Twist in the Lakers’ Real Ownership Story
The more consequential story for Lakers fans is what happens to the remaining Buss family stake and whether Jeanie Buss keeps her place atop the franchise.
When the NBA approved Walter’s majority purchase in 2025, the league specifically said Buss would remain governor for at least five years. The current dispute puts that arrangement under new pressure because league governance rules and the size of the family’s remaining stake are now part of the fight over the next sale.
Kushner and Iger, not O’Neal, are the buyers identified in credible reporting surrounding the Lakers’ latest potential ownership change.
So for anyone who encountered the viral claim and searched whether Shaq bought the Lakers, the answer is no.
O’Neal remains one of the most recognizable Lakers ever.
He just isn’t their new owner.
Shaquille O’Neal Buys Lakers Report Goes Viral Amid Ownership Fight