Jeanie Buss, who serves as the governor of the Los Angeles Lakers, is currently fighting against a proposal put forward by her brothers and sisters to dispose of the family’s lingering 17.8 percent equity stake in the franchise. The dispute has drawn considerable attention because it intersects with a larger, high‑profile transaction that could reshape the ownership structure of one of the NBA’s most storied clubs. Earlier this month, a consortium led by venture‑capitalist Josh Kushner and former Disney chief executive Bob Iger announced a tentative agreement to acquire a controlling interest in the Lakers. The deal, valued at roughly $12.5 billion (about £9.3 billion), would set a new benchmark for the price of a professional sports franchise.
According to reports, Kushan and Iger intend to purchase roughly 65 percent of the team from current majority owner Mark Walter, a businessman who also holds a share of the Los Angeles Dodgers and partners with Chelsea Football Club chairman Todd Boehly. If the transaction also incorporates the Buss family’s remaining shares, the new owners would command about 83 percent of the club. Jeanie Buss has been the Lakers’ governor since 2013, a role she assumed after the death of her father, Jerry Buss, who bought the team in 1979 and turned it into a global brand. In 2022, Jeanie helped orchestrate the sale of a controlling stake to Mark Walter at a $10 billion valuation, a deal that secured her position as governor through 2030.
That arrangement required her to retain at least a 15 percent ownership stake, a threshold mandated by the NBA for anyone serving as a team governor. The current push by her siblings to sell the family trust’s remaining shares would bring her ownership below that floor, effectively ending her tenure. The Buss family issued a brief statement on Monday indicating that they had decided to sell the remaining trust shares to the Iger‑Kushner group as part of the broader 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 Buss’s attorney, Adam Streisand, responded swiftly. In a letter addressed to the five siblings who act as co‑trustees of the Buss Family Trust, Streisand asserted that any attempt to sell the trust’s stake would be "void" and a breach of fiduciary duty.
He reminded the co‑trustees that they are legally obligated to preserve the minimum 15 percent ownership required for Jeanie to remain governor, warning that any deviation could constitute contempt of court. The internal family conflict is not new. Since Jerry Buss passed away, the six siblings have frequently clashed over the direction of the franchise. In 2017, Jeanie dismissed Jim Buss from his role as head of basketball operations, a move that sparked a lawsuit from her brothers who sought to remove her as the controlling owner.
More recently, Joey and Jesse Buss were let go from their front‑office positions in November of last year, further deepening the rift. The proposed sale to Kushner and Iger still requires approval from the NBA Board of Governors, a process that could take several months.
The transaction also arrives at a time when Kushner’s name has been linked to a controversial FIFA proposal. Gianni Infantino, the president of FIFA, had floated a plan to sell stakes in the organization’s competitions to private investors. Kushner’s venture‑capital firm, Thrive Eternal, was initially slated to lead the investor group for the so‑called "FIFA Forward Enterprise" initiative, but the plan was abandoned after intense criticism and threats of boycott from continental confederations, including UEFA.
If the deal proceeds, the Lakers would join an exclusive club of sports franchises that have changed hands for double‑digit‑billion‑dollar sums, underscoring the growing financial clout of professional basketball. The sale would also likely influence the NBA’s broader landscape, as ownership groups with deep pockets and media connections could reshape everything from media rights to global expansion strategies. For Jeanie Buss, the stakes are personal as well as professional.
Retaining her governorship means preserving a legacy that spans three generations of Buss stewardship, during which the Lakers captured 17 NBA championships, 11 of them under the family’s watch. The outcome of the family dispute will determine whether she can continue to guide the franchise through its next chapter or whether the baton will pass entirely to the new investors.
In summary, the Lakers are at a crossroads. A record‑setting sale involving Josh Kushner and Bob Iger looms, while Jeanie Buss fights to protect her mandated ownership level and, by extension, her role as governor. The resolution will hinge on legal arguments about fiduciary duty, NBA approval processes, and the broader strategic interests of the prospective owners.
Regardless of the final outcome, the saga highlights how deeply intertwined family dynamics, corporate finance, and league governance have become in the modern era of professional sports.