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Buss Family Feud: Lakers Sale Faces Legal Hurdle
8 Oct
Summary
- Jeanie Buss' siblings oppose her attempt to block the Lakers sale.
- The trust's stake is valued at approximately $2.2 billion.
- Jeanie's role as governor requires 15% ownership, threatened by sale.
The dispute over the Los Angeles Lakers' future has escalated in court, with Jeanie Buss' five siblings formally contesting her attempt to halt the sale of the family trust's remaining stake in the franchise. Jimmy, Johnny, Janie, Joey, and Jesse Buss have labeled their sister's petition "legally and factually baseless" as they seek to maintain the timeline for the estimated $2.2 billion transaction.
Their opposition follows their August vote to include the Buss Family Trust's 17.82% interest in the Lakers in the reported $12.5 billion sale from Mark Walter to an ownership group led by Bob Iger and Joshua Kushner. Jeanie challenged this decision approximately two weeks later, asserting that her siblings' plan contravened the terms of the family trust.
The crux of the contention lies in Jeanie's position as the Lakers' controlling governor. NBA rules mandate that a team governor must retain at least a 15% ownership interest. The siblings argue that the trust allows the sale, as a two-thirds majority of Jerry Buss's six living children approved it, and accuse Jeanie of acting to protect her own interests.
This legal conflict arises after a significant shift in the franchise's ownership. The Buss family concluded over four decades of majority control in 2025 when they sold the Lakers to Mark Walter for approximately $10 billion. Jeanie was slated to remain the team's controlling governor for at least five years as part of that deal.
