Jeanie Buss, the current governor of the Los Angeles Lakers, is actively opposing a plan put forward by her brothers and sisters to divest the family’s remaining 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 landscape of one of the NBA’s most iconic teams.
Earlier this month, two heavyweight investors—Josh Kushner, who is connected by marriage to former President Donald Trump’s son‑in‑law Jared Kushner, and former Disney chief executive Bob Iger—reached a preliminary 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.
Under the terms being discussed, Kushan and Iger would purchase roughly 65 percent of the club from Mark Walter, a billionaire who already holds a share of the Los Angeles Dodgers and partners with Chelsea FC chairman Todd Boehly. If the transaction also secured the Buss family’s residual interest, the new ownership group would command about 83 percent of the Lakers. Jeanie Buss has served as 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 built a dynasty that captured 11 of the franchise’s 17 championships.
In 2022, Jeanie led the family’s decision to sell a controlling block of the team to Mark Walter at a valuation of $10 billion. That agreement included a provision that allowed her to remain governor through 2030, but it also stipulated that she must retain at least a 15‑percent ownership share in order to keep the title. The current push by her siblings to sell the remaining trust shares threatens to drop her stake below that threshold, which would automatically terminate her governorship. The Buss family issued a brief statement on Monday announcing that they had "decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction." The statement added a courteous note: "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." Jeanie’s legal representative, attorney Adam Streisand, responded swiftly.
In a letter addressed to the other five Buss siblings, Streisand declared that any attempt to sell the trust’s holdings would be "void" and contrary to the terms of the existing trust agreement. He warned that co‑trustees are legally obligated to preserve the minimum 15‑percent ownership level required for Jeanie to remain the controlling owner.
Violating that duty, he cautioned, would constitute a breach of fiduciary responsibility, a breach of trust, and could even be deemed contempt of court. The internal family feud is not new. Since Jerry Buss’s passing, 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 accused her of trying to marginalize them. The conflict escalated further when Joey and Jesse Buss were removed from their front‑office positions in November of the previous year.
These disputes have underscored the delicate balance between family dynamics and the business imperatives of running a global sports brand. Beyond the family drama, the proposed sale still requires approval from the NBA’s Board of Governors, a process that can take several months and involves a thorough review of the buyers’ financial standing, their plans for the team, and compliance with league rules.
The involvement of Josh Kushner adds an additional layer of scrutiny, as his name was recently linked to a controversial FIFA proposal spearheaded by Gianni Infantino. That plan aimed to sell stakes in FIFA’s major competitions to private investors, a concept that faced fierce opposition from continental confederations such as UEFA and ultimately was abandoned. Kushner’s venture capital firm, Thrive Eternal, had initially been tapped to lead the investor consortium for the FIFA Forward Enterprise initiative, but the backlash forced the group to withdraw.
Critics argued that allowing private equity into the world’s governing body for soccer would compromise the sport’s integrity and open the door to profit‑driven decisions. While the FIFA episode is unrelated to the Lakers transaction, it does highlight the heightened public and regulatory attention that high‑profile investors like Kushner attract. If the sale proceeds, the Lakers would join a small club of sports franchises owned by a partnership of media, entertainment, and technology magnates.
The combined expertise of Iger—renowned for steering Disney through a period of massive growth—and Kushner—known for his venture‑capital acumen—could bring fresh revenue streams, innovative fan‑engagement strategies, and potentially new media rights deals. However, the family’s internal disagreement raises questions about governance stability and the long‑term vision for the team’s brand. For Jeanie Buss, retaining her governorship is not merely a matter of title; it represents continuity for a franchise that has long been synonymous with her family’s identity. The 15‑percent ownership rule is a safeguard designed by the NBA to ensure that a controlling owner has a meaningful financial stake in the club’s success.
By challenging the sale, Jeanie is protecting both her personal legacy and the structural integrity that the league expects from its owners. The outcome of this dispute will likely set a precedent for how family‑owned sports assets navigate generational transitions, especially when external investors bring record‑setting valuations to the table. Whether the Buss siblings can reconcile their differences, or whether the NBA will ultimately side with the new consortium, remains to be seen. What is clear is that the Lakers, a team with 17 championships—11 of which were won under the Buss era—are at a pivotal crossroads that could reshape their ownership, management, and perhaps even their on‑court fortunes for years to come.