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 divest the family’s final 17.8 percent stake in the storied franchise. The dispute has emerged against the backdrop of a high‑profile transaction that could reshape the ownership structure of the NBA’s most iconic team. Earlier this month, a deal was reportedly struck between Josh Kushner—a businessman whose family is connected to former President Donald Trump through his son‑in‑law Jared Kushner—and Bob Iger, the former chief executive of The Walt Disney Company.
The two investors agreed to purchase a controlling interest in the Lakers at an unprecedented valuation of roughly $12.5 billion (about £9.3 billion), setting a new benchmark for professional‑sports franchise sales. Under the terms of the agreement, Kushner and Iger would acquire roughly 65 percent of the club from current majority owner Mark Walter. Walter, who also holds a share of the Los Angeles Dodgers and works alongside Chelsea Football Club chairman Todd Boehly, would retain a minority position.
If the Buss family’s remaining trust shares are also transferred to the new consortium, the combined ownership of Kushner, Iger and Walter could rise to approximately 83 percent of the Lakers. Jeanie Buss has been the team’s governor since 2013, a role she inherited after the death of her father, Jerry Buss, who bought the Lakers in 1979 and turned the franchise into a global brand.
In 2022, Jeanie oversaw the sale of a controlling portion of the team to Mark Walter at a $10 billion valuation, a transaction that was structured to keep her in the governor position through 2030. The arrangement required her to retain at least a 15 percent ownership stake, a threshold that is mandated by the NBA’s governance rules for anyone serving as a team governor. The current push by her siblings to sell the remaining trust shares would, under NBA policy, force Jeanie to relinquish her governorship because she would fall below the 15 percent ownership floor.
The Buss family issued a public statement on Monday indicating that they had decided to sell the residual trust shares to the Iger‑Kushner group as part of the broader transaction. The statement expressed affection for the Lakers and its fan base while emphasizing a desire to “exit gracefully while we still can.” However, Jeanie’s legal counsel, attorney Adam Streisand, responded swiftly. In a letter addressed to the five other Buss siblings, Streisand asserted that any attempt to sell the trust’s stake without Jeanie’s consent would be null and void. He warned that co‑trustees are legally obligated to preserve the minimum 15 percent ownership requirement, thereby ensuring Jeanie can continue as the controlling owner.
The letter further cautioned that any breach of this duty could constitute a violation of fiduciary duty, a breach of trust, and potentially lead to contempt of court proceedings. The Buss family’s internal strife is not new. Since Jerry Buss’s passing, the six siblings have been embroiled in frequent disputes over the direction of the franchise. In 2017, Jeanie dismissed Jim Buss from his role as head of basketball operations, a move that was quickly followed by a lawsuit filed by her brothers Jim and Johnny, who alleged that she was attempting to marginalize them.
More recently, in November of the previous year, siblings Joey and Jesse Buss were removed from their front‑office positions within the organization. Beyond the family drama, the proposed sale still requires approval from the NBA’s Board of Governors, a process that can take several months. The transaction also arrives amid broader controversy surrounding Josh Kushner’s involvement in a FIFA‑related investment plan. Kushner’s venture‑capital firm, Thrive Eternal, was initially slated to lead a consortium for the FIFA Forward Enterprise proposal, which aimed to sell stakes in FIFA’s competitions to private investors.
The plan was abandoned after intense criticism and threats of boycott from major football confederations, including UEFA. If the deal ultimately closes, the Lakers would join a very exclusive club of sports franchises that have fetched double‑digit‑billion‑dollar price tags. The team’s legacy includes 17 NBA championships, 11 of which were secured during the Buss era.
The sale would not only alter the financial landscape of the franchise but also potentially shift its cultural identity, as new owners may bring different strategic priorities and branding approaches. For Jeanie Buss, the battle is as much about preserving her father’s legacy as it is about maintaining a seat at the table that governs one of the world’s most valuable sports properties. Her opposition underscores the importance of the 15 percent ownership rule, which is designed to ensure that a team’s governor has a meaningful stake in the organization’s success. Whether the NBA’s Board of Governors will side with the new investor group or uphold the existing family arrangement remains to be seen, but the outcome will undoubtedly shape the future of the Lakers for years to come.