Shaquille O’Neal did not buy the Los Angeles Lakers, is not the Lakers’ new owner and is not part of the ownership group seeking to acquire the franchise, despite a viral social media report claiming otherwise.
Updated Aug. 20: This article has been expanded with additional information about the Lakers’ current ownership structure and a subsequent false claim involving Magic Johnson.
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.” No credible outlet, NBA announcement or Lakers statement has corroborated that report.
Instead, Josh Kushner and Bob Iger have agreed to purchase the Lakers in a deal valuing the franchise at $12.5 billion, while a separate dispute continues over the Buss family’s remaining 17.8% stake. That real ownership fight helps explain why the false Shaq claim landed during an especially confusing moment for Lakers fans.
Who Is Actually Buying the Lakers if It Isn’t Shaq?
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.
Is Shaq the Lakers’ New Owner?
No. O’Neal has not purchased the Lakers, the Buss family’s shares or any reported stake in the franchise.
The buyers identified in credible reporting are Kushner and Iger. Their agreement to acquire the Lakers still requires NBA approval, while Jeanie Buss is separately fighting her siblings’ attempt to sell the family’s remaining 17.8% stake.
O’Neal’s history with the franchise and his well-known business career may make the viral claim sound plausible at first glance, but neither the Lakers nor the NBA has announced any ownership role for him.
Did Shaq and Magic Johnson Buy the Lakers Together?
A newer version of the ownership rumor has also connected Magic Johnson to a purported group involving O’Neal. There has been no announced Lakers purchase involving either former player.
Johnson’s name creates an additional layer of confusion because, unlike O’Neal, he actually has owned part of the Lakers before.
Johnson purchased a minority interest in the franchise in 1994. The Lakers’ own historical biography says he acquired that interest from Jerry Buss and later sold his stake in 2010. Contemporary reporting from the Los Angeles Times put Johnson’s stake at approximately 4.5% when he sold it to Patrick Soon-Shiong.
That history does not make Johnson part of the current transaction. The buyers identified in the pending Lakers deal are Kushner and Iger.
Who Owns the Lakers Now?
For now, Mark Walter remains the Lakers’ controlling owner while the Kushner-Iger transaction awaits NBA approval.
The separate fight over the Buss family’s remaining 17.8% stake could determine whether Jeanie Buss remains the team’s governor. AP reported that the governorship requires at least a 15% ownership interest, meaning a sale of the family’s remaining shares would threaten the arrangement announced when Walter took control in 2025.
For anyone searching whether Shaq bought the Lakers, the answer remains no. O’Neal is not part of the announced purchase, and neither is Johnson.
The Lakers’ actual ownership story currently centers on Walter, Kushner, Iger and the Buss family’s disputed remaining stake.
Shaq Lakers Ownership Rumor Spreads as Magic Johnson Claim Emerges