Jeanie Buss, who serves as the governor of the Los Angeles Lakers, is actively challenging the proposal put forward by her brothers and sisters to dispose of the family’s final 17.8 percent stake in the franchise. The dispute centers on a high‑profile transaction that could reshape the ownership landscape of one of the NBA’s most storied clubs.
Earlier this month, a consortium led by venture‑capitalist Josh 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 of the arrangement, Kushner and Iger would purchase roughly 65 percent of the team from Mark Walter, a billionaire who already holds a share in the Los Angeles Dodgers and partners with Chelsea Football Club chairman Todd Boehly.
If the transaction also includes the Buss family’s remaining shares, the new owners would control approximately 83 percent of the Lakers. Jeanie Buss has been the team’s governor since 2013, a role she assumed after the death of her father, Jerry Buss, who bought the Lakers in 1979 and turned the franchise into a global brand. In 2022, Jeanie helped steer the family through a sale of a controlling stake to Mark Walter that valued the club at $10 billion. That agreement was structured to keep her in the governor position until 2030, but it also required her to retain at least a 15 percent ownership interest in order to satisfy the league’s governance rules.
The current proposal to sell the remaining 17.8 percent would drop her ownership below that threshold, effectively ending her tenure as governor. The Buss family issued a brief statement on Monday indicating that they had decided to sell the remaining trust shares to the Iger‑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’s legal counsel, Adam Streisand, promptly sent a letter to the five other Buss siblings asserting that any attempt to divest the trust’s stake would be null and void. According to ESPN, the letter warned that co‑trustees are obligated to maintain the minimum 15 percent ownership level required for Jeanie to remain the controlling owner.
Streisand cautioned that any effort to circumvent this rule would constitute a breach of fiduciary duty, a violation of the trust agreement, and could even be deemed contempt of court. The Lakers boast 17 NBA championships, 11 of which were won under the Buss family’s stewardship.
Yet the siblings have been locked in internal conflict since Jerry Buss passed away. Tensions escalated in 2017 when Jeanie dismissed Jim Buss from his role as head of basketball operations, a move that was quickly followed by a lawsuit filed by her brothers, Jim and Johnny, who sought to remove her as the controlling owner.
More recently, in November, Joey and Jesse Buss were also let go from their front‑office positions within the organization. The proposed sale to Kushner and Iger still requires approval from the NBA Board of Governors, a process that could take several months.
The deal is further complicated by external controversies surrounding Josh Kushner. Earlier this year, his firm Thrive Eternal was linked to a FIFA initiative spearheaded by President Gianni Infantino that aimed to sell stakes in the governing body’s competitions to private investors.
The proposal faced fierce opposition from continental confederations, including UEFA, and was ultimately abandoned after criticism and boycott threats. If the transaction proceeds, it would not only mark the largest valuation ever recorded for an NBA franchise but also shift the Lakers away from the Buss family legacy that has defined the club for nearly five decades. Supporters of the sale argue that the infusion of capital and new leadership could propel the Lakers into a new era of competitiveness on and off the court. Critics, however, contend that the loss of the Buss family’s guiding hand could erode the cultural identity and community ties that have long distinguished the franchise.
The situation remains fluid, with legal filings, family negotiations, and league reviews all unfolding simultaneously. As the Lakers await the NBA’s final decision, fans and analysts alike are watching closely to see whether the iconic purple and gold will remain under the stewardship of the Buss family or transition to a new ownership structure that could reshape the future of the franchise.