Los Angeles Lakers governor Jeanie Buss is challenging her siblings’ plan to sell the Buss family’s remaining 17.8% ownership stake in the franchise to the new ownership group led by Bob Iger and Josh Kushner.
The development came shortly after the Buss family announced that it intended to sell its remaining interest in the Lakers, potentially bringing an end to the family’s nearly five-decade connection with the franchise. However, Jeanie Buss has made clear through her attorney that she does not agree with the proposed transaction and is challenging the family’s decision on legal and trust-related grounds.
The dispute is significant because selling the remaining Buss family stake could also determine whether Jeanie Buss can continue as the Lakers’ governor.
Here is what is known about the dispute, the 17.8% stake, the new ownership group and what could happen next.
Why Is Jeanie Buss Opposing the Lakers Stake Sale?
According to a letter from Jeanie Buss’ attorney, Adam Streisand, the Lakers governor is challenging the attempt by her siblings to sell the Buss family’s remaining ownership interest.
The disagreement centers on the structure of the family trust and a previous court order concerning Jeanie Buss’ position as the Lakers’ controlling owner.
Streisand argued that the proposed sale cannot simply be completed based on a vote by the Buss siblings. He maintains that the relevant trust provisions and court order require action by the trust’s current co-trustees, including Jeanie Buss.
The letter also argues that the trust’s shares must be handled in a way that preserves the minimum ownership percentage needed for Jeanie Buss to remain the Lakers’ controlling owner.
Jeanie’s objection is therefore more than a disagreement over the family’s decision to cash out. The proposed transaction could directly affect her ability to remain in charge of the Lakers.
The Buss Family Still Owns 17.8% of the Lakers
The Buss family’s relationship with the Lakers dates back to 1979, when Jerry Buss purchased the franchise.
For decades, the Buss family controlled one of the most recognizable teams in professional sports. Jerry Buss’ ownership era became closely associated with Lakers championships and stars such as Magic Johnson, Kobe Bryant and later other generations of elite players.
After Jerry Buss died in 2013, ownership of the family’s interest became structured through a family trust involving his six children: Jeanie, Jim, Johnny, Janie, Joey and Jesse Buss.
The family later agreed in 2025 to sell its controlling interest in the Lakers to Mark Walter for approximately $10 billion.
That transaction transferred majority control while allowing the Buss family to retain a minority position. Jeanie Buss remained the team’s governor under the agreement. The NBA Board of Governors approved Walter’s acquisition in October 2025.
The remaining Buss family ownership interest is now reported at approximately 17.8%.
That percentage has suddenly become central to the latest ownership battle.
What Happened to Mark Walter’s Ownership?
The latest dispute cannot be understood without looking at the Lakers’ rapid ownership changes over the past year.
In 2025, Mark Walter acquired majority control of the Lakers from the Buss family in a deal valued at approximately $10 billion. The NBA approved the transaction, and Jeanie Buss remained the Lakers’ governor.
Walter’s ownership, however, was short-lived.
In August 2026, Walter reached an agreement to sell his controlling interest to a group led by Josh Kushner and Bob Iger at a reported valuation of approximately $12.5 billion.
That transaction would establish another record valuation for an American professional sports franchise, although the deal still requires approval from the NBA’s Board of Governors.
The new ownership agreement is what triggered the latest question surrounding the Buss family’s remaining shares.
Who Are Bob Iger and Josh Kushner?
The proposed new ownership group is led by two prominent business figures: Bob Iger and Josh Kushner.
Iger is the former longtime chief executive of Disney and one of the most recognizable executives in the entertainment industry.
Kushner is a venture capitalist and founder of Thrive Capital. He and Iger had previously been associated with efforts to pursue an NBA expansion opportunity before the opportunity to acquire the Lakers emerged.
Their proposed Lakers transaction would give the group control of the franchise after acquiring the majority interest from Mark Walter, while the Buss family’s remaining stake is also targeted as part of the broader ownership transition.
If the Buss family’s remaining shares are ultimately transferred, the new ownership group would control roughly 83% of the Lakers.
But Jeanie Buss’ legal challenge means that the path to completing that ownership structure is now more complicated.
Why the 15% Ownership Threshold Matters
One of the most important details in the dispute is the 15% ownership threshold.
Jeanie Buss’ position as the Lakers’ governor is tied to her ownership interest in the franchise. Reports indicate that NBA rules require a controlling owner or governor to maintain at least a 15% ownership stake.
The Buss family’s remaining 17.8% stake is therefore only slightly above that threshold.
If the entire 17.8% interest is sold, Jeanie Buss would no longer have the ownership percentage needed to remain the Lakers’ governor under those requirements.
That is why the ownership dispute is also a dispute over Jeanie Buss’ future with the Lakers.
What Does Jeanie Buss’ Lawyer Say?
Jeanie Buss’ attorney, Adam Streisand, has challenged the validity of the proposed transaction.
According to reports on the letter, Streisand argues that the trust’s co-trustees have obligations under the family trust and a 2017 court order.
The letter states that the current co-trustees include Jeanie Buss, Janie Buss and Joey Buss and argues that the Lakers shares cannot be sold without the required trustee approval.
The attorney also argues that the trust and court order require steps to preserve the ownership level necessary for Jeanie Buss to remain the Lakers’ controlling owner.
Streisand further warned that proceeding contrary to those requirements could constitute a breach of trust or fiduciary duties and could conflict with the court order.
These are Jeanie Buss’ legal arguments; they have not been established as a final court ruling on the proposed sale.
Did the Other Buss Siblings Vote to Sell?
Reports indicate that the Buss Family Trust announced its intention to sell its remaining Lakers shares to the Iger-Kushner group.
The trust is associated with Jerry Buss’ six children, and reports say a majority of the siblings supported the transaction.
Jeanie Buss, however, is contesting the decision.
That distinction is important.
The family has announced its intention to sell, but Jeanie Buss’ legal challenge means that the ownership transfer is now subject to a dispute over whether the trust’s voting and governance procedures allow the transaction to proceed as planned.
A New Chapter in the Buss Family’s Lakers Dispute
The latest disagreement is part of a much longer history of tension within the Buss family.
After Jerry Buss’ death, his children inherited interests in the Lakers through the family trust. Over the years, disagreements emerged over how the franchise should be managed and who should have authority within the organization.
Jeanie Buss eventually became the team’s governor in 2013 and took a leading role in the franchise’s basketball and business operations.
Family tensions became especially visible as different siblings took different positions on the team’s direction and ownership.
ESPN previously reported extensively on the internal disputes that preceded the 2025 sale to Mark Walter, describing the Lakers as a major source of tension within the family.
The current ownership dispute is therefore not an isolated disagreement. It represents another chapter in the complicated relationship between the Buss family, the Lakers and the trust created by Jerry Buss.
The 2025 Lakers Sale Changed Everything
The current situation is also a reminder of how quickly the Lakers’ ownership structure has changed.
For most of the franchise’s history under the Buss family, the Lakers were controlled by one family.
That changed in 2025 when Mark Walter acquired the majority interest for a valuation of approximately $10 billion.
At the time, the NBA emphasized that the Buss family would retain an ongoing interest and that Jeanie Buss would remain the team’s governor for at least five years following the transaction.
The subsequent agreement involving Iger, Kushner and Walter has created another major ownership transition only months later.
If the Buss family’s remaining 17.8% stake is also transferred, the family would effectively end its direct ownership connection to the Lakers.
Jeanie Buss is fighting to prevent that outcome, at least in its current form.
What Could Happen Next?
There are several important steps still ahead.
1. The Legal Dispute Could Continue
Jeanie Buss’ objection could lead to further legal proceedings concerning the family trust, the 2017 court order and the authority of the co-trustees.
The outcome could determine whether the Buss family’s remaining shares can be transferred in the manner currently proposed.
2. The NBA Must Approve the New Ownership
The broader Lakers ownership transaction involving Bob Iger and Josh Kushner also requires approval from the NBA’s Board of Governors.
Until that approval occurs, the ownership transition is not completely finished.
3. Jeanie Buss’ Future With the Lakers Is Uncertain
If the full 17.8% Buss family stake is ultimately sold and Jeanie Buss no longer maintains the required ownership interest, her position as Lakers governor could be affected.
That would mark a major change for a franchise she has led since 2013.
4. The Buss Family’s Ownership Era Could End
If the transaction survives the legal challenge and receives the necessary approvals, the Buss family’s direct ownership of the Lakers would come to an end.
That would close a relationship with the franchise that began when Jerry Buss purchased the team in 1979.
What This Means for the Lakers
For Lakers fans, the ownership dispute comes at a particularly significant moment.
The franchise is entering a new business era while also dealing with major changes on the basketball side.
The proposed ownership group led by Iger and Kushner would inherit one of the most valuable and globally recognizable sports brands in the world.
But before that new era can fully begin, the ownership group must navigate the Buss family’s internal dispute and complete the required NBA approval process.
The situation also illustrates how much the Lakers’ ownership landscape has changed in a remarkably short period.
In 2025, the Buss family transferred majority control to Mark Walter.
In 2026, Walter agreed to sell his controlling interest to Bob Iger and Josh Kushner.
Now, the Buss family’s remaining 17.8% stake has become the center of another ownership battle.
