The Buss family has reaffirmed its decision to sell its remaining stake in the Los Angeles Lakers, with five of the six siblings supporting the move despite an ongoing dispute with current team governor Jeanie Buss.
Johnny, Jimmy, Janie, Joey and Jesse Buss have all backed the decision to sell the family’s remaining 17.8% ownership stake, while Jeanie was the only sibling to abstain from Monday’s vote.
In a statement, the family said they remain united and intend to proceed with the sale while emphasizing their respect for the Lakers and their late father Jerry Buss’ legacy.
The development follows a dramatic change in ownership for the franchise. The Buss family agreed last year to sell the Lakers to Mark Walter at a then-record valuation of $10 billion. However, the team is now set to change hands again, with Josh Kushner and Bob Iger agreeing to purchase approximately 65% of the franchise from Walter at a valuation of $12.5 billion.
The Buss family is using a tag-along provision from the original agreement with Walter to sell its remaining shares alongside the deal. If completed, Kushner and Iger would control roughly 83% of the Lakers.
However, Jeanie Buss is challenging the family’s decision and argues that the sale of the remaining shares requires her approval. Her legal team has cited a 2017 court ruling that she says requires approval from the co-trustees, including herself.
Jeanie’s lawyer has also demanded that the family publicly recognize her as the Lakers’ controlling owner and take no action based on what she considers an invalid vote.
The dispute could have major consequences for Jeanie, who has served as the Lakers’ governor and represented the franchise in league matters. If the sale proceeds, she could lose her position despite previously reaching an agreement with Walter to remain as governor through 2030.
The Buss family, meanwhile, expressed confidence in the incoming ownership group, saying they believe Iger and Kushner understand the significance of the Lakers to Los Angeles and its supporters.
The ownership battle now leaves the future of one of the NBA’s most iconic franchises in the middle of an unprecedented transition.
