What happened: Bob Iger is expected to serve as minority owner and alternate governor while leading day-to-day operations. The consortium agreed last month to buy Mark Walter's 64% stake in a deal valuing the Lakers at $12.5 billion.
Why it matters: Separating daily management from the final vote would create a two-tier leadership structure. Jeanie Buss's effort to block the sale of her family's 17.8% stake leaves the transition timing unresolved.
By the numbers: At the $12.5 billion valuation, Walter's 64% interest is worth $8 billion, the 15% governor threshold equals $1.875 billion and the Buss family's 17.8% stake equals $2.225 billion.
What to watch: The ownership group must finalize its executive roles as the transaction moves toward NBA approval.