The future of the Los Angeles Lakers is once again under a microscope as the Buss family moves to block a proposed sale of their remaining 17.8% stake to venture‑capitalist Josh Kushner and former Disney chief Bob Iger.
Jeanie Buss warns the sale would end her role
In a legal filing, Jeanie Buss, the current governor of the franchise, argues that the agreement violates trust provisions that require a 15% ownership threshold for her continued involvement, and she contends the deal would effectively remove her from the ownership structure.
The transaction, valued at roughly $12.5 billion, would give Kushner and Iger control of about 83% of the team, a figure that dwarfs the $10 billion Mark Walter previously paid for a controlling interest. Walter, who is currently under a federal tax investigation, has positioned himself as the conduit for the new ownership group.
Jerry Buss, who built the franchise into a basketball powerhouse after purchasing the team in 1979, had originally bequeathed his shares to his children, including Jeanie, with the expectation that they would preserve the family’s influence over the club. The siblings have been locked in a series of disputes since his death in 2013, with Jeanie having previously sued her brothers over control of the franchise.
The NBA’s board of governors must still approve the sale, a process that could stretch for months as the league scrutinizes the financial and governance implications. While the siblings claim they have unanimous approval of the transaction, Jeanie’s opposition raises the prospect of a protracted legal battle that could reshape the ownership landscape of the storied franchise.
Adam Streisand, an attorney representing the Buss siblings, has publicly emphasized that the family’s legal position is grounded in the original trust agreements and that any attempt to bypass the 15% ownership requirement would be invalid under California probate law.