Buss family divided over Lakers stake sale
Five of Jeanie Buss’ siblings filed a formal opposition Wednesday in Los Angeles Superior Court to her petition arguing that the Buss Family Trust cannot sell its stake in the Lakers.
Jimmy, Johnny, Janie, Joey and Jesse Buss maintain that the trust can include its approximately 17.8% stake in the pending sale of the franchise.
In a statement, the five siblings described Jeanie’s petition as legally and factually baseless.
“While discussions among the siblings continue, their focus remains on facilitating the proposed transaction and the Trust’s participation in it, while ensuring that all beneficiaries, including Jeanie, are treated equally.”
They added that Wednesday’s filing was necessary to protect those interests and keep the transaction on schedule.
$12.5 billion Lakers sale
The dispute comes as a new ownership group prepares to acquire majority control of the Lakers.
A group led by Joshua Kushner, which includes former Disney CEO Bob Iger, agreed this summer to purchase Mark Walter’s majority stake at a record $12.5 billion valuation.
When the Buss family sold control to Walter in 2025, it retained the right to “tag along” its shares in any subsequent sale.
The five siblings voted 5-0 to exercise that right, while Jeanie abstained.
Jeanie challenges the vote
Jeanie, Janie and Joey Buss currently serve as the trust’s co-trustees.
Jeanie and her attorneys argue that the vote was invalid. She has also asked the court to remove Janie and Joey as trustees and hold all five siblings in contempt.
A hearing is scheduled for December 8.
Jeanie’s Lakers governor position at stake
The dispute could have major consequences for Jeanie Buss’ position as Lakers governor.
NBA rules require a governor to hold at least 15% of a team without partners. The family-ownership exception allows Jeanie to meet that requirement through the trust’s stake.
However, if the trust sells its shares as part of the current transaction, Jeanie would not be able to remain governor under the current arrangement.
2017 ruling could be crucial
Jeanie’s attorneys are also relying on a 2017 ruling, issued after Jim and Johnny Buss attempted to remove her from the board.
Her lawyers argue that the ruling requires the trust to keep Jeanie in power for life.
The legal battle between the Buss siblings could therefore determine not only whether the family’s Lakers stake is sold, but also who will continue to represent the franchise as its governor.
Source: Dan Woike/The Athletic
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