The Lakers’ ownership situation has become increasingly complicated following Mark Walter’s agreement to sell his controlling interest to Josh Kushner and Bob Iger at a $12.5 billion valuation.
Attention has now shifted to the Buss family’s remaining 17.8% stake. Five of Jerry Buss’ six children reportedly supported including those shares in the transaction, while Jeanie Buss opposed the move and is challenging whether her siblings have the authority to proceed.
Her argument centers on a 2017 court order governing the family trust. Attorney Adam Streisand maintains that selling the stake requires approval from co-trustees Jeanie, Janie and Joey Buss.
“No sale of the JAB Trust’s 17.8% ownership interest in the Los Angeles Lakers, Inc. can be effectuated without approval by the current co-trustees, i.e., Jeanie, Janie and Joey Buss,” Streisand wrote.
The dispute is particularly important for Jeanie because NBA rules require a controlling owner to hold at least 15% of a franchise. Selling the family’s remaining interest would therefore threaten her ability to continue as Lakers governor.
Her legal team argues that the trust requires its shares to be handled in a way that protects that position.
“Pursuant to the JAB Trust and the attached Court Order, 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,” Streisand said.
Jeanie’s siblings see the situation differently. They reportedly believe a “tag-along” provision established during the family’s previous sale to Walter gives them the ability to participate in a later transaction involving his shares.
Their position is that four of the six Buss siblings constitute the majority needed to authorize the trust’s participation in the sale. With five reportedly supporting the move, they believe the necessary threshold has been reached.
The disagreement leaves the fate of the Buss family’s Lakers stake unresolved. Unless the two sides reach an agreement, the increasingly bitter ownership battle could ultimately return to court.
What Jeanie Buss’ court order means for family’s attempt to sell Lakers https://t.co/EPJx67ikZy pic.twitter.com/F4QyghfiSi
— New York Post (@nypost) August 19, 2026
