Los Angeles – Five of the six Buss siblings who inherited a minority stake in the Los Angeles Lakers have again confirmed their intention to sell the family trust’s remaining 17.8% ownership in the NBA franchise. The siblings – Johnny, Jimmy, Janie, Joey and Jesse – issued a statement to ESPN on Tuesday, saying they remain “united in that decision” and will move forward “thoughtfully, respectfully and through the appropriate process.”
Background on the ownership structure
The Buss family trust acquired its original stake when Jerry Buss purchased the Lakers in 1979. After his death in 2013, the trust’s holdings were split among his six children. In 2024, majority control was sold to Mark Walter for a reported $10 billion valuation, with Jeanie Buss retaining the role of team governor through at least 2030.
Earlier this week, the five siblings voted to sell the trust’s remaining minority interest to a partnership led by venture investor Josh Kushner and Disney executive Bob Iger. The proposed transaction would increase the franchise’s valuation to roughly $12.5 billion, potentially netting each sibling close to half a billion dollars.
Jeanie Buss’s opposition
Jeanie Buss, who has served as the Lakers’ governor since her father’s passing, responded with a letter from her attorney, Adam Streisand, asserting that the siblings cannot sell the trust’s shares without her consent. She argues that her approval is required under the terms of the family trust and the existing ownership agreement.
If the sale proceeds without Jeanie’s consent, she would lose the governor position, a role that grants her significant influence over league matters and team operations. The governor seat is slated to remain with her until at least 2030 under the Walter deal.
Family tensions and prior disputes
The Buss family has experienced frequent internal conflict since Jerry Buss’s death. In 2017, Jeanie removed brother Jim from his role as head of basketball operations, leading to a lawsuit from the brothers alleging an attempt to oust her as controlling owner. More recently, Joey and Jesse were terminated from front‑office positions in November 2025.
Mark Walter, the current majority owner, is under a federal investigation for alleged tax issues, adding another layer of complexity to the ownership transition.
Implications for the Lakers
Should the minority stake change hands, the new owners – Kushner and Iger – would join Walter as majority stakeholders, potentially reshaping the franchise’s strategic direction. The Lakers, a 17‑time NBA champion, remain one of the league’s most valuable properties, and any shift in ownership could affect everything from player contracts to arena negotiations.
For now, the dispute remains unresolved. The siblings have pledged to follow the legal process, while Jeanie Buss continues to explore legal avenues to block the sale. The outcome will likely hinge on the interpretation of the trust agreement and any applicable state corporate law.
What’s next?
Both parties have indicated they will pursue the matter through the courts. Observers note that the resolution could set a precedent for how family‑owned sports franchises handle internal ownership disputes, especially when minority stakes are involved.
Fans and local stakeholders will be watching closely, as the Lakers’ ownership saga unfolds amid ongoing discussions about the future of professional sports franchises in Los Angeles and across the nation.
Original reporting: Alexandria, VA News – WTOP News — read the source article.
