In a CNBC interview that aired Tuesday, Los Angeles Lakers governor Jeanie Buss explained the 2025 decision to sell the Buss family’s majority stake in the team to billionaire Mark Walter, adding that her late father Jerry Buss would’ve supported the move.
“What was important to him was that the Lakers stay at the top of the NBA, and to stay at the top of the NBA, you need to have the resources,” Buss told CNBC. “You need to have everybody pulling together. And he would want [that for] the Lakers, because the Lakers are his legacy.”
Buss died in 2013 and left behind a family trust that secured the family’s 66% ownership equally among Jeanie, Johnny, Jim, Janie, Joey and Jesse Buss, who all held roles within the franchise.
Last June, the six Buss siblings agreed to sell almost 50% of the family’s stake to Walter at a $10 billion valuation. The sale closed in late October 2025, with the siblings each pocketing about a half billion dollars after taxes. They still own about 17%, just meeting the 15% threshold required by NBA rules for Jeanie to remain governor.
After the sale closed, five of the six siblings were terminated from their roles within the Lakers; the only Buss still part of the team is Jeanie, who received a five-year contract and was the driver of the sale to Walter.
“She fired everyone,” a team official told ESPN in a story last month that chronicled tumult within the family leading up to and following the sale.
After being terminated, Janie Buss previously told ESPN that she felt disappointed and disrespected.
“I don’t think my dad would be happy with the way things just went down,” Janie said. “Not at all.”
Jeanie, in her CNBC interview, said, “My siblings were involved in the decision that was made. It’s about the Lakers and the greatness and what the fans expect, and you need resources and you need a direction. I think it’s fair to say that my family — we all have our different opinions and [are] living our lives, choosing what we want to do with our time, and this was the best decision for all six of us.”
When asked by CNBC whether she’ll say on for the full five years of her term as governor, Jeanie said, “That’s what I agreed to. Mark Walter and I are very comfortable with the way things are set up. And I expect things to go on and be successful. And you know, I’m not going anywhere.”
She also discussed the team’s transition from being built around LeBron James to its future with Luka Doncic. “The partnership will give us the stability to continue to move forward as we build towards a team around Doncic,” Buss said. “We couldn’t be more proud that he is a Laker. He is a young All-Star that the fans love to see.”
James is in the final year of his contract with the Lakers, and Jeanie said she isn’t ruling out him returning next season.
“Never say never, but you know, he certainly hasn’t given an indication,” Buss said. “He’s earned the right to decide how his career will go, and you know, he continues to impress.”
