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 final 17.8 percent interest in the franchise. The dispute centers on a high‑profile transaction that was announced earlier this month, in which venture‑capitalist Josh Kushner—who is also the brother‑in‑law of former President Donald Trump’s son‑in‑law Jared—and former Disney chief executive Bob Iger have agreed to purchase a controlling stake in the Lakers. The deal values the storied NBA club at roughly $12.5 billion (about £9.3 billion), setting a new benchmark for the price of a professional sports franchise. According to reports, Kushan and Iger intend to acquire roughly 65 percent of the team from Mark Walter, a billionaire investor who already holds a share in the Los Angeles Dodgers and partners with Chelsea Football Club chairman Todd Boehly.
If the transaction with the Buss family is also completed, the new ownership group would control about 83 percent of the Lakers, effectively giving them decisive authority over the club’s future. 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 interest to Mark Walter at a valuation of $10 billion, 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 that is mandated by the NBA’s governance rules for anyone who wishes to serve as a team’s controlling owner. If the remaining family trust shares are sold, Jeanie would fall below that 15‑percent floor and would consequently lose her governor title. The Buss family released a statement on Monday indicating that they had decided to sell the leftover shares held in the Buss Family Trust to the Bob Iger‑Josh Kushner 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 attempt to sell the trust’s stake would be null and void. The correspondence, cited by ESPN, warned that co‑trustees are legally obligated to preserve the minimum 15‑percent ownership level to keep Jeanie in her governing role.
Streisand warned that any effort to contravene this requirement would constitute a breach of fiduciary duty, a violation of trust law, and could be deemed contempt of court. The Lakers boast a record 17 NBA championships, 11 of which were won under the Buss family’s stewardship.
Yet the siblings have been locked in a series of internal battles since Jerry Buss’s passing. Tensions escalated in 2017 when Jeanie dismissed Jim Buss from his position as head of basketball operations, a move that sparked a lawsuit filed by Jim and Johnny Buss as they sought to remove her as the controlling owner. More recently, in November of the previous year, brothers Joey and Jesse Buss were also let go from their front‑office roles within the organization. The proposed sale to Kushner and Iger still requires approval from the NBA’s board of governors, a process that could stretch over several months.
The deal also arrives amid broader controversy surrounding Josh Kushner’s involvement in a FIFA‑related initiative. 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 the governing body’s competitions to private investors. After intense backlash from continental confederations, including UEFA, the plan was abandoned, casting a shadow over Kushner’s reputation in the sports‑investment arena. In the midst of these high‑stakes negotiations, the Lakers’ future leadership remains uncertain.
Jeanie Buss, who has guided the franchise through multiple championship runs and a major ownership transition, now faces a legal and familial showdown that could reshape the power structure of one of basketball’s most iconic teams. The outcome will not only determine whether she retains her governor title but also influence the strategic direction of the Lakers as they navigate the evolving landscape of professional sports ownership. If the sale proceeds without Jeanie’s continued involvement, the new ownership group—combining the financial muscle of Mark Walter, the media expertise of Bob Iger, and the political connections of Josh Kushner—could usher in a new era for the Lakers, potentially leveraging synergies across the Dodgers, Chelsea FC, and other entertainment properties.
Conversely, a successful legal challenge by Jeanie could preserve the Buss family’s legacy and maintain continuity in the club’s governance, albeit possibly at the cost of a lower valuation for the franchise. The situation underscores how deeply intertwined family dynamics, corporate finance, and league governance can become when a multi‑billion‑dollar sports asset changes hands. As the NBA board deliberates and the courts weigh the trust‑law arguments, fans, analysts, and investors will be watching closely to see whether the Lakers remain under the Buss family’s guiding hand or transition to a new coalition of owners with ambitions that extend far beyond Los Angeles.