The ownership of the Los Angeles Lakers has become a focal point of contention within the Buss family, as Lakers Governor Jeanie Buss contests her siblings' recent vote to sell their collective share of the team. The dispute centers on a 2017 court order that Jeanie Buss argues must be upheld to prevent a sale without her explicit approval.
Last week, reports indicated that Mark Walter had agreed to sell his share of the franchise to Josh Kushner and Bob Iger for $12.5 billion. This week, it appeared the Buss family intended to follow suit, voting to sell their remaining 17.8% stake to the same individuals. However, a letter from Jeanie Buss' lawyer, Adam Streisand, obtained by the California Post, asserted that her siblings cannot legally complete the sale without her consent, deeming any such vote "void."
Her siblings, Jim, Johnny, Janie, Joey, and Jesse Buss, who are part of the Buss family trust, have countered, expressing their intent to proceed with the sale. They believe a "tag-along" provision, included when the family sold the Lakers to Walter in June 2025, allows them to join any sale and valuation Walter secured. The siblings contend that a majority vote from the six Buss children is required for the trustees to sell the family's shares.
At the core of Jeanie Buss' opposition is the 2017 court order, which Streisand stated mandates approval from the co-trustees—Jeanie, Janie, and Joey Buss—for any sale. This order, according to Streisand, instructed the co-trustees to take all reasonable actions, including voting the trust's shares, to ensure Jeanie Buss was annually elected as the Director of the Board of the Lakers for her lifetime and maintained the controlling ownership stake.
Jeanie Buss has served as the Lakers' Governor since 2013, following the death of her father, Dr. Jerry Buss. Her position requires a minimum 15% ownership stake in the franchise. If the family's shares are sold, she would lose this stake and her role as Governor, unless the sale is approved by all necessary parties and adheres to league requirements. While Walter's agreement with Buss stipulated she would remain Governor for at least five years, through 2030, the current family dispute introduces uncertainty.
Iger has reportedly stated his intention and Kushner's to honor the agreement between Walter and Buss. The outcome of this dispute remains unclear, with the possibility of a legal resolution growing unless the parties can reach an agreement outside of court.