Jeanie Buss, who serves as the governor of the Los Angeles Lakers, is actively opposing a plan put forward by her brothers and sisters to sell the family’s final 17.8 percent interest in the storied franchise. The dispute centers on a high‑profile transaction that was announced earlier this month, in which Josh Kushner—a prominent venture capitalist and brother‑in‑law to former President Donald Trump’s son‑in‑law Jared Kushner—and former Disney chief executive Bob Iger have agreed to acquire a controlling stake in the Lakers.
The deal values the organization at roughly $12.5 billion (about £9.3 billion), which would set a new benchmark for the price of a professional sports team. According to reports, Kushan and Iger intend to purchase roughly 65 percent of the club from current owner Mark Walter.
Walter, who also holds a share of the Los Angeles Dodgers and partners with Chelsea Football Club chairman Todd Boehly, would retain a minority interest after the transaction. If the Buss family’s remaining trust shares are also transferred to the new consortium, the combined ownership of Kushner, Iger and Walter would rise to approximately 83 percent, effectively handing over full control of the Lakers to the new partnership. Jeanie Buss has been the franchise’s governor since 2013, a role she inherited after the death of her father, Jerry Buss, who bought the team in 1979 and turned it into an NBA powerhouse. In 2022, Jeanie led the family through a landmark sale of a controlling interest to Mark Walter at a $10 billion valuation.
That agreement included a clause that allowed her to remain in her governing position until 2030, provided she retained at least a 15 percent ownership stake—a requirement stipulated by the NBA’s bylaws for anyone serving as a governor. The current proposal threatens to eliminate Jeanie’s ownership percentage below the mandated threshold, which would automatically disqualify her from the governor role.
The Buss family issued a statement on Monday indicating that they had collectively decided to sell the remaining trust shares to the Bob Iger‑Josh 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’ attorney, Adam Streisand, responded swiftly by sending a formal letter to the five other Buss siblings. In the correspondence, Streisand asserted that any attempt to divest the trust’s stake without meeting the 15 percent minimum would be "void" and constitute a breach of fiduciary duty, potentially leading to contempt of court.
He emphasized that co‑trustees are legally obligated to preserve the ownership level required for Jeanie to retain her governing position, warning that any deviation could trigger serious legal consequences. The Buss family has a long and sometimes tumultuous history with the Lakers.
Under Jerry Buss’s stewardship, the franchise captured 11 of its 17 NBA championships, cementing its legacy as one of the league’s most successful organizations. After Jerry’s passing, internal conflicts among the six siblings intensified. In 2017, Jeanie dismissed Jim Buss from his role as head of basketball operations, a move that precipitated a lawsuit filed by her brothers Jim and Johnny, who alleged that she was attempting to sideline them from the family business. More recently, in November of the previous year, Joey and Jesse Buss were also removed from their front‑office positions, further underscoring the deepening rift within the family.
Beyond the family drama, the proposed sale must also clear the NBA’s Board of Governors, a process that could take several months and is subject to extensive scrutiny. The league will examine whether the new ownership group meets its standards for financial stability, market impact, and compliance with league policies. Adding another layer of complexity, Josh Kushner’s name has been linked to a controversial FIFA initiative spearheaded by President Gianni Infantino, which sought to sell stakes in the world soccer governing body’s competitions to private investors.
That proposal, known as the FIFA Forward Enterprise, faced fierce opposition from continental confederations, including UEFA, and was ultimately abandoned after intense criticism. Kushner’s involvement in that failed venture was through Thrive Eternal, a U.S.-based venture capital firm he founded, which was slated to lead the investor group before the plan was scrapped. The episode raised questions about Kushner’s broader investment strategy and his appetite for high‑profile, sometimes contentious, deals. If the transaction proceeds, the Lakers would be under the joint stewardship of a media mogul, a tech‑savvy venture capitalist, and an experienced sports franchise owner.
Supporters argue that the infusion of fresh capital and diverse expertise could propel the Lakers into a new era of global branding, digital innovation, and on‑court success. Critics, however, worry that the loss of the Buss family’s custodial presence could erode the cultural identity that has long defined the franchise.
In summary, Jeanie Buss is fighting to preserve her legal right to remain the team’s governor by ensuring the family retains the minimum 15 percent ownership required by NBA rules. The outcome of this internal family dispute will not only shape the future leadership of one of basketball’s most iconic teams but also set a precedent for how ownership transitions are handled in the league when family trusts and external investors intersect. The next few months will be pivotal as legal arguments, league approvals, and public sentiment converge around the fate of the Los Angeles Lakers.