The Los Angeles Lakers are synonymous with the Buss family name. For 47 years, that connection has been the bedrock of one of the most successful franchises in professional sports. That era is effectively under siege right now, and if you think the recent headlines about the family selling their final stake are the end of the story, you aren't paying attention to the legal firestorm currently erupting in Los Angeles.
Jeanie Buss isn't going quietly.
While reports surfaced yesterday that the six Buss siblings—Jeanie, Jim, Johnny, Janie, Joey, and Jesse—voted to sell their remaining 17.8% stake to the ownership group led by Josh Kushner and Bob Iger, the reality is far messier. Jeanie’s legal team, led by attorney Adam Streisand, has fired back with a warning that the vote is legally "void."
This isn't just sibling rivalry. This is a high-stakes power struggle over the future of the Lakers organization.
The Fight For The Governor Title
The core of this dispute is simple, but the mechanics are complex. NBA rules are rigid: to serve as a team’s governor—the person who sits in the big chair and makes the final calls—you must own at least 15% of the franchise. Jeanie currently meets that requirement. By selling the family’s remaining 17.8% share, her siblings would effectively strip her of that status.
Jeanie isn't just fighting for money. She is fighting for her job.
Her legal team argues that a 2017 court order dictates that the co-trustees of the Buss Family Trust are bound by a fiduciary duty to maintain her 15% stake. According to Streisand, any attempt to sell those shares in a way that falls below that threshold is a breach of trust and potentially contempt of court.
It’s a direct challenge. Jeanie is asserting that her siblings don't have the legal authority to trigger this sale, even if they have the voting numbers to attempt it.
Why The Siblings Want Out
If you follow the money, the motivation for the other siblings becomes clear. The transaction with the Iger-Kushner group values the Lakers at a massive $12.5 billion. When the family sold a majority interest to Mark Walter last year for $10 billion, it was a record-breaking deal. Now, barely a year later, the valuation has climbed further.
For siblings like Joey and Jesse, who were removed from their team roles following that initial 2025 sale, the remaining stake might feel like dead weight. They’ve already cashed out significantly, and they seem ready to sever the final tie. They want to move on.
Jeanie, however, remains the face of the franchise. She has spent her entire professional life inside the Lakers ecosystem, guided by her father Jerry Buss’s legacy. She clearly views herself as the steward of that legacy. To her, this isn't just an asset liquidation; it’s an erasure of her father’s life work.
The Reality Of The Situation
We are looking at a battle between contractual obligations and the desire to cash out. The "public statement" released by the family, which spoke of a graceful exit, is now being framed by Jeanie’s camp as a gross misrepresentation of the legal reality.
If this heads to court, we’ll see a familiar pattern. The Buss family has dealt with public infighting for years. The resentment between the siblings didn't start yesterday. It’s a multi-year saga of leaked information, accusations of bad faith, and fundamental disagreements over how the Lakers should be run.
For the average fan, this is exhausting. But for the business of the NBA, it’s a critical moment. The Board of Governors is expected to meet in New York on September 15 and 16. They have to decide if the Iger-Kushner takeover—now reaching roughly 83% ownership—is valid. They can’t approve a deal that is tied up in active litigation, or at least they won't want to.
What Happens Next
Expect a legal showdown. If Jeanie can prove that her co-trustees are violating the 2017 court order, she can effectively freeze the sale of those specific shares. This would force the Iger-Kushner group to either negotiate a different structure or deal with a minority partner they might not want.
Don't hold your breath for a quick resolution. This is deep-seated family business.
If you are looking for clarity, keep an eye on the court filings. Ignore the press releases. The legal arguments will tell you exactly who holds the cards, and right now, Jeanie Buss is playing a defensive game that could derail the entire exit strategy.
The Lakers are entering an era of uncertainty, regardless of who ends up with the final shares.
