Jeanie Buss Fighting Family's Push to Sell Remaining Lakers Stake

Jeanie Buss is pushing back against her own family’s attempt to sell its remaining stake in the Los Angeles Lakers, potentially putting her future as the team’s controlling owner in jeopardy.

Five of the six Buss siblings voted to sell the family’s remaining 17.8 percent ownership stake to Josh Kushner and Bob Iger at the same $12.5 billion valuation agreed to in Mark Walter’s recent sale, according to ESPN’s Shams Charania. Jeanie was the only sibling who did not vote in favor.

But Jeanie’s lawyer, Adam Streisand, is now challenging whether her siblings have the authority to make that move.

Streisand pointed to a 2017 court ruling that stated no sale could be “effectuated without approval by the co-trustees, i.e. Jeanie, Janie and Joey Buss,” according to a letter obtained by ESPN.

He also argued the trustees are required to protect Jeanie’s position with the franchise.

“The co-trustees are bound to vote … to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain Controlling Owner,” Streisand wrote. “Any attempt by the co-trustees … to aid or abet the co-trustees as such, would constitute a breach of trust, breach of fiduciary duty and be in contempt of court.”

The family announced its intention to move forward with the sale earlier Monday.

“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction,” the family said. “We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”

Jeanie had previously reached an agreement with Walter allowing her to remain controlling owner through 2030. Iger recently indicated he planned to honor that arrangement, but stopped short of guaranteeing it.

“If something changes, then it changes,” Iger told the California Post.

Streisand has now demanded that Jeanie’s siblings publicly recognize her as controlling owner and “take no action on this supposed ‘vote’ to sell the 17.8% stake.”

If the family’s sale is ultimately completed, Jeanie would fall below the ownership threshold required to remain Lakers governor, potentially ending the Buss family’s direct control of the franchise after nearly five decades.