Jeanie Buss, the current governor of the Los Angeles Lakers, is actively challenging a proposal put forward by her brothers and sisters to dispose of the family’s remaining 17.8 percent stake in the franchise. The dispute centers on a high‑profile transaction that was first announced earlier this month, in which investor Josh Kushner – the brother‑in‑law of former President Donald Trump’s son‑in‑law Jared Kushner – and former Disney chief executive Bob Iger agreed to purchase a controlling interest in the Lakers at an unprecedented valuation of roughly $12.5 billion (about £9.3 billion).
This price would set a new benchmark for any professional sports team worldwide. According to reports, Kushan and Iger intend to acquire roughly 65 percent of the club from billionaire Mark Walter, who already holds a sizable share in the Lakers and also co‑owns the Los Angeles Dodgers with Chelsea Football Club chairman Todd Boehly. If the deal also includes the Buss family’s trust shares, the new consortium would command about 83 percent of the organization, effectively handing over day‑to‑day control to the Kushner‑Iger partnership. 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 spearheaded the family’s decision to sell a controlling stake to Mark Walter for a reported $10 billion, a transaction that secured her position as governor through 2030. That agreement required her to retain at least a 15 percent ownership interest, a legal threshold that guarantees her continued authority over the franchise. The current plan to sell the remaining trust shares would bring Jeanie’s ownership below that 15 percent floor, effectively ending her tenure as governor because league rules stipulate that a governor must hold a minimum of 15 percent of the team’s equity. In a statement released by the Buss family on Monday, the relatives said they had collectively decided to sell the leftover trust shares to the Bob Iger group as part of the broader transaction, adding: "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 counsel, attorney Adam Streisand, promptly sent a letter to the other five Buss siblings asserting that any attempt to sell the trust’s stake would be "void" under the terms of the family trust agreement.
The letter, cited by ESPN, warned that co‑trustees are obligated to maintain the minimum 15 percent ownership level to allow Jeanie to remain the controlling owner. Streisand further cautioned 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 storied history with 17 NBA championships, 11 of which were secured during the Buss family’s stewardship. Yet, internal strife among the six siblings has been a recurring theme since Jerry Buss passed away. Tensions escalated in 2017 when Jeanie dismissed Jim Buss from his role as head of basketball operations, prompting a lawsuit from her brothers Jim and Johnny who attempted to wrest control of the franchise.
More recently, in November of the previous year, siblings Joey and Jesse lost their front‑office positions within the organization. The proposed sale to Kushner and Iger still requires approval from the NBA’s Board of Governors, a process that could take several months and involves a thorough review of the buyers’ financial qualifications and compliance with league ownership rules. The transaction also arrives at a delicate moment for Josh Kushner, whose name was recently linked to a controversial FIFA initiative spearheaded by President Gianni Infantino.
The plan, known as the FIFA Forward Enterprise, sought to sell stakes in the governing body’s competitions to private investors, a proposal that faced intense backlash and was ultimately abandoned after criticism from continental confederations such as UEFA. Kushner’s venture‑capital firm, Thrive Eternal, had been slated to lead the investor group for the FIFA proposal before the scheme was scrapped amid threats of boycott. The association of his name with that contentious project adds another layer of complexity to the Lakers deal, raising questions about the broader implications of private‑equity involvement in major sports properties.
In summary, Jeanie Buss is fighting to preserve her governing role by preventing the sale of the family’s remaining shares, while her siblings argue that moving on from the trust’s ownership is the prudent path forward. The outcome will hinge on legal interpretations of the trust agreement, the NBA’s approval process, and the strategic interests of the prospective buyers. As the situation unfolds, Lakers fans and the broader sports community will be watching closely to see how one of the NBA’s most iconic franchises navigates this high‑stakes ownership battle.