The Buss family officially voted to sell their remaining stake in the Los Angeles Lakers, but hold up: Jeanie Buss, the team’s governor, is straight up contesting that vote. This isn’t just a squabble, either; if the family’s sale goes through, it means Buss won’t be holding her governor role, even though she was supposed to be set through 2030. Talk about a plot twist!
The Sale That Hit A Snag
So, here’s the deal. Josh Kushner and Bob Iger, who already agreed to buy the majority share of the Lakers from Mark Walter back in October, were all set to scoop up the Buss family’s remaining chunk too. This whole sale was pegged at the same whopping $12.5 billion valuation that Walter snagged. Apparently, there’s this “tag-along provision” from Walter’s original purchase in June 2025, which gave the family the right to ride along on any sale and valuation Walter secured for his shares. ESPN’s Shams Charania reported earlier that the family was on board. The catch? Jeanie Buss is not having it.
Jeanie Buss Drops The Legal Hammer
Jeanie Buss isn’t just annoyed, she’s brought in the legal big guns. According to ESPN, her lawyer, Adam Streisand, fired off a letter to the five siblings who voted to sell, laying down the law. Streisand reminded them that a court ruled back in 2017 that no sale could be finalized without the approval of *all* the co-trustees: Jeanie, Janie, and Joey Buss. So, yeah, not just a simple majority vote among the siblings. Streisand also made it crystal clear that these co-trustees are legally bound to vote in a way that keeps the minimum 15% ownership requirement in place, which is crucial for Jeanie Buss to stay on as Controlling Owner. He warned that any move by the co-trustees to help the sale would be a “breach of trust, breach of fiduciary duty and be in contempt of court.” Oof. Streisand isn’t messing around, demanding the five siblings publicly state that Jeanie Buss is the Controlling Owner and back off from this “supposed ‘vote’” to sell the 17.8% stake.
From Family Legacy To Family Feud
This whole saga goes back to the late Dr. Jerry Buss, who first bought the Lakers from Jack Kent Cooke in 1979. He set up a trust to pass on ownership to his kids, and when he passed away in 2013, his daughter, Jeanie, took over as controlling owner as per that trust. Now, it looks like that carefully planned legacy has hit a major roadblock. Jeanie Buss’s role as the Lakers’ governor through 2030 is squarely on the line, and if this sale somehow goes through, she’s out. This isn’t just about money; it’s about control, family, and the future of an iconic franchise. The next move here could shape Lakers history for years.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Yahoo Sports.
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