The governorship of the Los Angeles Lakers is currently in a state of uncertainty, with Jeanie Buss's position hanging in the balance following a complex ownership saga. Josh Kushner, founder and CEO of Thrive Capital, is slated to become the controlling shareholder of the Lakers following an agreement for Mark Walter to sell his shares to Kushner and Bob Iger for $12.5 billion. This valuation marks a historic figure, coming less than a year after Walter's initial purchase of the team from the Buss family.
Adding to the complexity, Jeanie Buss faces a legal challenge from five of her siblings—Jim, Johnny, Janie, Joey, and Jesse Buss—who are attempting to sell the family’s 17.8% stake in the Lakers. The initial court hearing for this litigation was postponed from November 5 to December 8, a decision that will significantly influence the team's internal dynamics.
Should Jeanie Buss's siblings succeed in selling their ownership stake, her ability to remain as the Lakers' governor would be jeopardized. Conversely, if she successfully blocks their sale, she would retain the necessary ownership stake, at least 15% as per league rules, through the Buss family trust to continue as the franchise's governor.
However, a source close to the NBA indicated that Kushner is expected to assume the role of Lakers governor once his and Iger's purchase is finalized. This aligns with Kushner's expected majority shareholding. While Iger is anticipated to be the more actively involved partner in the Lakers' day-to-day operations, Kushner's larger stake would make him a suitable candidate for governor if Iger does not meet the minimum ownership threshold.
This situation presents a conflict with previous statements made by Iger, who indicated in the immediate aftermath of the sale that he and Kushner intended to honor an agreement with Buss that would have allowed her to remain governor through at least 2030. Iger had also stated that they approached the potential acquisition with "enormous respect and appreciation" for Buss and her role within the organization. The potential shift in ownership and the ongoing legal dispute suggest that the Lakers' future leadership structure remains unclear. The league's review of the majority ownership sale is pending, and the delay in the Buss family court date means definitive answers regarding the team's hierarchy are not expected soon.