Five of the six Buss siblings have now publicly reaffirmed their intention to sell the family’s remaining 17.8 percent stake in the franchise, despite Jeanie Buss challenging whether they have the authority to do so.
Johnny, Jimmy, Janie, Joey and Jesse Buss all voted to move forward with the sale, while Jeanie abstained, according to ESPN’s Shams Charania.
The five siblings made their position clear in a statement provided to Charania on Tuesday.
“The Los Angeles Lakers have never been just a basketball team. They have been one of the greatest privileges of our lives,” the Buss family said. “Our focus has always been on what we believe is best for the Lakers, the fans who have supported this franchise for generations and the greater Los Angeles community.
“Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family’s remaining stake, and we remain united in that decision. We intend to move forward thoughtfully, respectfully and through the appropriate process.”
The family is attempting to use a tag-along provision from its 2025 sale to Mark Walter to include its remaining shares in Walter’s new deal with Josh Kushner and Bob Iger.
Walter purchased control of the Lakers last year at a $10 billion valuation. Just over a year later, Kushner and Iger are set to acquire approximately 65 percent of the franchise at a $12.5 billion valuation. Adding the Buss family’s shares would increase their ownership to roughly 83 percent, according to ESPN.
The five siblings also threw their support behind the prospective new owners.
“We have tremendous respect for Bob Iger and Josh Kushner and believe they understand what the Lakers represent to Los Angeles and our incredibly loyal fan base,” the family said. “We are confident they will honor everything this franchise stands for while building upon the foundation our father created.”
Jeanie, however, is fighting the move. Her attorney, Adam Streisand, argues a 2017 court ruling means a sale requires approval from co-trustees Jeanie, Janie and Joey Buss.
If the remaining stake is ultimately sold, Jeanie would lose her position as Lakers governor despite previously having an agreement with Walter to remain in the role through 2030.
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