The Buss family trust, made up of the six children of late owner Jerry Buss, voted to sell their remaining 17.8% stake in the Los Angeles Lakers to Bob Iger and Josh Kushner on August 17, 2026 [1, 2, 3]. The sale is part of a larger transaction in which Mark Walter, who acquired a controlling interest in the Lakers from the Buss family about 14 months ago for $10 billion, agreed last week to sell the franchise to Iger and Kushner for a record $12.5 billion [1, 2, 3].
However, Jeanie Buss, the Lakers’ governor since 2013 and recognized controlling owner per a 2017 court ruling, is contesting the sale [1, 2, 3]. She claims as a co-trustee of the family trust her approval is required to complete any sale of the remaining family stake. Jeanie Buss’s lawyer called any vote to sell without her consent void and accused her brothers Joey and Jesse Buss of leaking false information to ESPN about the deal [3].
Jeanie Buss owns at least 15% of the Lakers, the NBA’s minimum ownership stake required for controlling ownership and governance, a status confirmed by a Los Angeles Superior Court ruling in 2017 [1, 2, 3]. Following Walter’s purchase of the controlling interest in June 2025 for about $10 billion, the Lakers remained under a deal that ensured Jeanie Buss’s position as governor until 2030 [1, 2, 3].
The Buss family issued a statement affirming their decision to sell the remaining shares, saying, “We love the Lakers, Lakers 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.” [1] If the family stake sale is completed, combined ownership among Walter, Iger, and Kushner would total roughly 83% of the franchise [3].
The dispute highlights a rift within the Buss family between Jeanie and some of her siblings over control of the Lakers. Jeanie’s efforts to block the sale could delay or complicate the closing of the transaction. The parties are expected to address the ownership and trustee consent issues in the coming weeks.
