Jeanie Buss Contests Family Vote to Sell 17.8% Lakers Stake on August 18

Jeanie Buss, the Los Angeles Lakers governor, is blocking her five siblings from selling the family’s remaining 17.8% stake in the team to Bob Iger and Josh Kushner at a $12.5 billion valuation. Through her lawyer Adam Streisand, Buss argues that a 2017 court order requires approval from all three co-trustees, including herself, before any sale can occur. The dispute threatens her role as team governor, which requires at least 15% ownership.

Why the family wants to sell

Five of the six Buss siblings voted Monday to sell their remaining stake to Iger and Kushner, citing a tag-along provision from Mark Walter’s purchase of the team last year. The family issued a statement saying they wanted to “move on and exit gracefully while we still can.” The sale would give Iger and Kushner approximately 83% ownership of the Lakers, according to ESPN.

Jeanie Buss claims the sale is void

Buss’s lawyer argues the vote is void because it violates a 2017 court order. The order states that no sale can occur without approval from the three co-trustees: Jeanie, Janie, and Joey Buss. Streisand warned that any attempt to sell would constitute breach of trust, breach of fiduciary duty, and contempt of court.

What Jeanie stands to lose

If the sale proceeds, Buss would fall below the 15% ownership threshold required to remain Lakers governor. She had an agreement with Mark Walter to stay in that role through at least 2030. Bob Iger told the California Post he intends to honor that agreement, but added, “If something changes, then it changes.” Iger met with Buss last week to discuss the transition.

What happens next

The transaction still requires approval from the NBA board of governors. A spokesperson for Kushner and Iger declined to comment on the family dispute. The Buss family has controlled the Lakers since 1979, but sold majority ownership to Mark Walter in June 2025 for $10 billion. This family feud erupts just five days after Iger and Kushner agreed to buy Walter’s controlling stake.

Final Thoughts

Jeanie Buss has a legal argument grounded in a 2017 court order, but her five siblings hold the votes. The NBA board’s approval decision and any court ruling will determine whether she keeps her governor role or loses it to the new ownership group.

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