A high stakes legal battle is unfolding within the Buss family over the future ownership of the Los Angeles Lakers, with controlling owner and team governor Jeanie Buss challenging a proposed sale of the family’s remaining stake in the franchise.
Five of the six Buss siblings Jim, Johnny, Janie, Joey and Jesse have voted to sell the family’s remaining 17.8% stake in the Lakers to incoming majority owners Bob Iger and Joshua Kushner. The proposed transaction values the franchise at approximately $12.5 billion.
Jeanie Buss, the lone sibling to oppose the sale, is now contesting the move in court, arguing that her siblings do not have the authority to sell the trust’s shares without unanimous approval or the required consent from trustees.
At the center of the dispute is a tag along provision connected to Mark Walter’s previous purchase of a controlling interest in the Lakers. The five siblings voted to exercise that provision and cash out their remaining family ownership.
Jeanie, however, argues that the transaction violates a previous court order and the fiduciary obligations governing the family trust. Her legal challenge seeks to prevent the sale from moving forward until questions surrounding the authority of the trustees and the ownership structure are resolved.
The dispute could have enormous consequences for both the Buss family and the Lakers organization. One of the biggest issues is Jeanie Buss’ position as the Lakers’ governor.
Under NBA ownership rules, a team governor generally must maintain at least a 15% ownership interest in the franchise. If the Buss family’s remaining stake is sold as proposed, Jeanie could fall below that threshold, potentially ending her tenure as the Lakers’ governor.
That would represent a historic change for one of the NBA’s most recognizable ownership families. The Buss family has controlled the Lakers for decades, with Jeanie becoming the franchise’s controlling owner following the death of her father, Jerry Buss, in 2013.
Jeanie has effectively been the face of the family’s ownership of the Lakers for years, making the proposed transaction far more than a financial deal.
The current legal battle is also the latest chapter in a long-running power struggle among the Buss siblings. In 2017, Jeanie removed her brother Jim Buss from his role overseeing the Lakers’ basketball operations. Jim and Johnny later pursued a legal challenge related to the family’s ownership structure, but that effort ultimately failed.
The Lakers’ front-office restructuring also resulted in Joey and Jesse Buss losing their previous player personnel roles.
Those moves contributed to years of tension within the family and appear to have helped create the circumstances behind the current dispute.
For the five siblings supporting the sale, the transaction would provide an opportunity to cash out of their remaining ownership interest in one of the most valuable sports franchises in the world.
For Jeanie, however, the consequences are much greater. Losing the family’s remaining stake could threaten her position as Lakers governor and potentially bring an end to nearly five decades of Buss family governance of the franchise.
The proposed sale also raises broader questions about how the Lakers will be governed under the incoming ownership group.
The legal dispute is expected to be closely watched by the NBA as the league prepares to consider the broader transaction and its ownership implications.
The NBA Board of Governors will review the proposed changes during its upcoming meetings, while the courts could also be asked to determine whether the Buss siblings had the legal authority to approve the sale.
For now, the Lakers’ ownership future remains uncertain. What began as a multibillion-dollar ownership transaction has evolved into a bitter family dispute that could determine whether Jeanie Buss remains in control of the Lakers—or whether the Buss family’s historic run as the franchise’s governing force finally comes to an end.
