Los Angeles – A legal showdown is unfolding over the proposed sale of the remaining 17.8% ownership stake in the Los Angeles Lakers. Jeanie Buss, who serves as the team’s controlling owner and chief executive officer, has instructed her attorney, Adam Streisand, to demand that the buyers publicly acknowledge her controlling status and to halt any vote on the transaction.
Family disagreement becomes a courtroom battle
Streisand’s letter, obtained by CNN, states that ESPN’s report of the sale was false and that the Buss siblings – Jim, Johnny, Janie, Joey and Jesse – have a “years‑long pattern” of leaking inaccurate information. The letter further asserts that any vote by the siblings on the sale would be void because a 2017 court order designates Jeanie Buss as the controlling owner of the Lakers.
According to the letter, Jeanie Buss is prepared to seek contempt proceedings and injunctions if her siblings attempt to move forward without her consent. “Any ‘vote’ by any of the Buss siblings on the sale to Iger and Kushner would be and is void from the beginning,” Streisand wrote.
Background on the transaction
Last week, former Disney chief executive Bob Iger and venture capitalist Josh Kushner purchased a majority stake in the franchise from Mark Walter for a record‑breaking $12.5 billion. The deal, which would make Iger and Kushner the primary owners, still requires approval from the NBA Board of Governors.
In a statement to ESPN, the Buss family announced that it had agreed to sell the remaining trust shares to the Iger‑Kushner group, describing the move as an “opportunity to move on and exit gracefully while we still can.” The statement added that the family loves the Lakers and its fans and will continue to support the team and the city of Los Angeles.
Potential implications for team leadership
If the NBA Board of Governors approves the transaction, sources tell CNN that Josh Kushner – brother of former White House senior adviser Jared Kushner – could become the controlling owner, while Bob Iger would assume a deep leadership role within the organization.
The Lakers, a storied franchise with 17 championships, most recently captured the title in the 2019‑20 season. Ownership stability has long been a hallmark of the organization, and the current dispute highlights the tension between family governance and the interests of new investors.
Legal context
The 2017 court order that named Jeanie Buss as the controlling owner was intended to preserve continuity and protect the franchise’s value. Under that order, any transfer of the family’s minority stake requires her written approval. The Buss siblings’ alleged willingness to sell without her consent, if true, would directly conflict with that legal framework.
Both sides have yet to comment publicly beyond the statements released to the press. CNN has reached out to Thrive Capital, the firm representing Josh Kushner, for comment.
What’s next?
The dispute is expected to move to the courts if the parties cannot reach an agreement. Meanwhile, the NBA Board of Governors will review the proposed ownership change as part of its standard approval process. Fans and stakeholders will be watching closely, as the outcome could set a precedent for how family‑owned sports franchises handle future ownership transitions.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
