Jeanie Buss, who serves as the governor of the Los Angeles Lakers, is actively opposing a proposal put forward by her brothers and sisters to dispose of the family’s residual 17.8 percent stake in the franchise. The dispute has surfaced at a time when two high‑profile investors, Josh Kushner—who is linked to former President Donald Trump through his brother‑in‑law Jared Kushner—and former Disney chief Bob Iger, have already reached a preliminary agreement to acquire a controlling interest in the Lakers.
Their deal, announced earlier this month, values the storied basketball club at roughly $12.5 billion (about £9.3 billion), setting a new benchmark for the price of a professional sports team. Kushner and Iger are slated to purchase roughly 65 percent of the organization from current majority stakeholder Mark Walter.
Walter, who also holds a share of the Los Angeles Dodgers and partners with Chelsea Football Club chairman Todd Boehly, would retain a minority position after the transaction. If the Buss family’s remaining trust shares are also transferred to the new consortium, the combined ownership of Kushner, Iger, and Walter would rise to about 83 percent, effectively giving them near‑total control of the Lakers. Jeanie Buss has occupied the governor’s seat since 2013, stepping into the role after the death of her father, Jerry Buss, the man who bought the team in 1979 and built it into an NBA powerhouse. In 2022, Jeanie oversaw a landmark sale of a controlling stake to Mark Walter at a $10 billion valuation.
That agreement included a provision that allowed her to remain in her executive capacity until at least 2030, provided she retained a minimum 15 percent ownership share—a requirement embedded in the NBA’s governance rules for team governors. The current push by her siblings to sell the remaining trust shares threatens to strip Jeanie of the ownership threshold needed to keep her position. If the sale proceeds, she would fall below the 15 percent floor, automatically ending her tenure as governor. The Buss family issued a public statement on Monday indicating that they had collectively decided to transfer the remaining trust shares to the Bob Iger‑Josh Kushner group as part of the ongoing transaction.
The statement read, "We love the Lakers, Lakers fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can." However, Jeanie’s legal counsel, attorney Adam Streisand, responded swiftly. In a letter addressed to the representatives of her five siblings, Streisand asserted that any attempt to sell the family trust’s stake without meeting the 15 percent ownership requirement would be "void" and a breach of fiduciary duty. He warned that co‑trustees who vote contrary to this requirement would be violating the trust, potentially facing contempt of court charges. The Buss family’s internal strife is not new.
Since Jerry Buss’s passing, the six siblings have been embroiled in frequent disagreements over the direction of the franchise. In 2017, Jeanie dismissed Jim Buss from his role as head of basketball operations, a move that precipitated a lawsuit filed by her brothers Jim and Johnny, who sought to remove her as the controlling owner. More recently, in November of the previous year, siblings Joey and Jesse Buss were also let go from their front‑office positions with the team. The proposed sale to Kushner and Iger still requires approval from the NBA’s Board of Governors, a process that could extend over several months.
The transaction also arrives amid broader controversy surrounding Josh Kushner’s involvement in a FIFA initiative. Kushner’s venture capital firm, Thrive Eternal, was initially tapped to lead a consortium for the FIFA Forward Enterprise proposal, which aimed to sell stakes in the governing body’s competitions to private investors.
The plan faced intense criticism and threats of boycott from several continental confederations, including UEFA, ultimately leading to its abandonment. If the deal closes, the Lakers would join an exclusive club of sports franchises valued in the double‑digit billions, reflecting the soaring market for elite athletic properties. The team’s illustrious history—17 NBA championships, 11 of which were won under Buss family ownership—adds a layer of sentimental value to the financial calculus.
Yet the internal family battle underscores how legacy, governance rules, and personal ambition intersect in the high‑stakes world of professional sports ownership. Beyond the immediate financial implications, the outcome will shape the Lakers’ strategic direction for years to come.
New owners may bring fresh capital, innovative marketing strategies, and a different approach to player acquisition and roster construction. Conversely, Jeanie Buss’s continued presence could preserve the franchise’s established culture, community ties, and long‑standing operational philosophies. In summary, Jeanie Buss is fighting to retain the minimum ownership stake required to stay on as governor, while her siblings aim to cash out their remaining shares to a consortium led by Josh Kushner and Bob Iger. The dispute involves legal arguments about fiduciary duty, NBA governance requirements, and the broader context of a record‑setting valuation for an NBA franchise.
The final resolution will depend on court rulings, NBA board approval, and the family’s ability to reconcile their divergent visions for the future of the Los Angeles Lakers.