Jeanie Buss, the controlling owner and CEO of the Los Angeles Lakers, is in a public dispute with five of her siblings over their intention to sell the family's remaining 17.8% stake in the NBA team. The proposed buyers are Josh Kushner and former Disney CEO Bob Iger, who recently acquired a majority stake in the Lakers from Mark Walter for $12.5 billion. Jeanie Buss, through her attorney Adam Streisand, contends that the siblings cannot sell their shares without her approval, citing a 2017 court order that designates her as the controlling owner for life unless further modified by the trust.
The five siblings—Johnny, Jimmy, Janie, Joey, and Jesse Buss—have publicly stated their unified decision to sell their shares, despite Jeanie's opposition. They communicated their intention to move forward "thoughtfully, respectfully and through the appropriate process." This internal family conflict has been ongoing since the death of their father, Jerry Buss, in 2013, with various legal battles and board fights over control of the team. Jeanie Buss had emerged victorious in previous disputes, securing her role as the Lakers' governor when Mark Walter initially purchased a controlling stake.
The controversy intensified after an ESPN report, which Jeanie Buss's attorney claims falsely reported the sale and was based on "false, defamatory and pernicious 'information'" leaked by Joey and Jesse Buss. The attorney explicitly demanded that Kushner and Iger publicly acknowledge Jeanie Buss as the controlling owner and refrain from acting on the purported vote to sell the 17.8% stake. While the sale of the family's minority stake would not impact Mark Walter's prior sale of the majority stake to Kushner and Iger, it would significantly affect Jeanie Buss's future involvement with the franchise. If the siblings succeed in selling their shares, Jeanie Buss's ability to serve as the Lakers' governor could be jeopardized.
