Jeanie Buss, the current governor of the Los Angeles Lakers, is actively opposing her brothers and sisters’ intention to dispose of the family’s residual 17.8 percent stake in the franchise. The dispute centers on a high‑profile transaction that could reshape the ownership structure of one of the NBA’s most storied clubs. Earlier this month, a deal was announced in which Josh Kushner—brother‑in‑law to former President Donald Trump’s son‑in‑law Jared Kushner—and former Disney chief executive Bob Iger agreed to acquire a controlling interest in the Lakers. The agreement values the franchise at roughly $12.5 billion (about £9.3 billion), setting a new benchmark for professional‑sports team valuations.
According to reports, Kushan and Iger plan to purchase approximately 65 percent of the club from Mark Walter, a billionaire investor who already holds a share of the Los Angeles Dodgers and partners with Chelsea Football Club chairman Todd Boehly. If the deal also secures the Buss family’s remaining shares, the consortium would control roughly 83 percent of the Lakers. Jeanie Buss has served as the Lakers’ governor since 2013, a role she inherited after the death of her father, Jerry Buss, who bought the team in 1979 and built it into a global brand. In 2022, Jeanie shepherded a sale of a controlling stake to Mark Walter that valued the franchise at $10 billion.
That transaction was structured to keep her in the governor’s seat through 2030, but it also required her to retain at least a 15‑percent ownership interest, a condition embedded in the NBA’s governance rules. The current proposal threatens to strip Jeanie of that mandatory ownership level. If the Buss family’s remaining 17.8 percent is sold to the Iger‑Kushner group, Jeanie would fall below the 15‑percent threshold and consequently lose her governing authority. The family announced on Monday that it had decided to sell the remaining Buss Family Trust shares to the Bob Iger consortium 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’s legal representative, attorney Adam Streisand, promptly sent a letter to the five other Buss siblings asserting that any move to sell the trust’s stake is "void" under the terms of the family trust agreement. The letter, cited by ESPN, emphasizes that co‑trustees are obligated to preserve the minimum 15‑percent ownership requirement so that Jeanie can remain the controlling owner. Streisand warned that any attempt to contravene this duty would constitute a breach of fiduciary duty, a violation of the trust, and could be deemed contempt of court. The Buss family’s internal discord 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 filed by Jim and brother Johnny seeking to remove her as the controlling owner. More recently, in November of the previous year, brothers Joey and Jesse 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 slated to lead the investor group for the FIFA Forward Enterprise proposal, which aimed to sell stakes in the organization’s competitions to private capital. After intense backlash from continental confederations, including UEFA, the plan was abandoned.
If the deal proceeds, the Lakers would join a very exclusive club of sports franchises valued above $10 billion, reflecting the growing financial clout of the NBA and the global appeal of its marquee teams. The sale would also solidify the partnership between Mark Walter, Todd Boehly, Bob Iger, and Josh Kushner, creating a powerful ownership bloc that spans basketball, baseball, soccer, and media. For Jeanie Buss, the stakes are deeply personal.
Beyond the legal requirement, she has overseen the Lakers through a period of on‑court success, including the 2020 NBA championship, and has been a visible advocate for women’s leadership in sports. Losing her governing role could mark the end of an era that began with her father’s vision and continued through her own stewardship. The situation remains fluid. The NBA’s Board of Governors will need to evaluate the financial terms, the compliance with league ownership rules, and the broader implications for the league’s competitive balance.
Meanwhile, the Buss siblings must reconcile their fiduciary responsibilities with their individual ambitions and the legacy of a family that has been synonymous with Los Angeles basketball for nearly five decades. In summary, Jeanie Buss is fighting a legal battle to preserve her ownership stake and retain her position as governor, while her siblings appear ready to cash out their remaining shares.
The outcome will determine not only the future of the Lakers’ ownership structure but also the legacy of the Buss family’s long‑standing relationship with the franchise.