Buss Family Drama Rocks the Los Angeles Lakers: What’s at Stake?

The Los Angeles Lakers are in the midst of a dramatic off-court fight, as Jeanie Buss contests the sale of her family’s 17.8% stake in the team. The sale, which is set to be finalized with Bob Iger and Josh Kushner, has been met with opposition from Jeanie, who claims that any vote to sell the remaining family shares without her consent is void.

According to a letter obtained by CNBC, Jeanie’s lawyer, Adam Streisand, wrote that any sale of the JAB Trust’s 17.8% ownership interest in the Los Angeles Lakers, Inc. would require the approval of the current co-trustees, including Jeanie, Janie, and Joey Buss. Streisand emphasized that the co-trustees are bound to vote the Los Angeles Lakers, Inc. shares to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain Controlling Owner.

The Buss family has owned a portion of the Lakers for 47 years, with Dr. Jerry Buss purchasing the team in 1979. The family’s stake in the team has been a subject of controversy, with Jeanie’s five siblings reportedly in favor of selling their shares. However, Jeanie has disputed the sale, claiming that a 2017 court order prevents any vote to sell the remaining family shares without her consent.

The sale of the team to Walter in 2025 was reportedly driven by Jeanie, who was long described as the swing vote in a possible sale. The sale included an unusual provision, which allowed Jeanie Buss to remain the governor of the team for no less than five years. However, NBA rules only allow for someone to remain the governor of a team if they own at least 15% of it. If the sale of the Buss stake goes through, Buss could no longer retain her position as governor of the team.

The stakes are high, with Luka Dončić set to become a free agent in the summer of 2028. Dončić has been a key player for the Lakers, signing a contract extension last offseason. However, the team’s off-court drama may impact his decision to remain with the team.

The Buss family legacy with the Lakers is complex, with Dr. Jerry Buss being widely considered the greatest owner in NBA history. However, since his passing, the team has struggled, with a six-year playoff drought between 2013 and 2019 being the longest in franchise history.

The drama surrounding the sale of the Lakers is a reminder of the complex web of relationships and interests that exist within the team. As the situation unfolds, it remains to be seen how the sale will impact the team’s future and the Buss family’s legacy.