Jeanie Buss Contests Sale of Lakers Family Stake

Lakers governor Jeanie Buss is legally contesting a vote by the Buss Family Trust to sell its remaining 17.8% minority stake in the Los Angeles Lakers to Bob Iger and Josh Kushner. The move follows a recent agreement in which majority owner Mark Walter sold his stake to Iger and Kushner at a record $12.5 billion valuation. If the family sale proceeds, Iger and Kushner would own approximately 83% of the franchise.

Jeanie Buss's attorney, Adam Streisand, argues the vote is void, citing a 2017 court order that requires the trust to ensure Jeanie remains the controlling owner for her lifetime. Under NBA guidelines, a minimum 15% ownership stake is required to serve as team governor. Because the sale would drop her ownership below this threshold, Jeanie Buss would lose her leadership role. She further alleges that siblings Joey and Jesse Buss leaked false information to the media to undermine her.

In contrast, five of the Buss siblings—Jim, Johnny, Janie, Joey, and Jesse—issued a statement declaring they are united in the decision to exit the franchise gracefully. While Bob Iger previously stated he intended to honor an agreement for Jeanie Buss to remain governor, the loss of the required ownership stake makes that arrangement legally impossible. The transactions currently await approval from the NBA Board of Governors during their September 15-16 meeting in New York.