Legal battle erupts as Jeanie Buss contests family's decision to sell their minority ownership in the Lakers
Category: Sports
In a dramatic turn of events, Jeanie Buss, the controlling owner of the Los Angeles Lakers, has publicly contested her family's reported decision to sell their remaining 17.8% stake in the team to a group led by Bob Iger and Josh Kushner. The controversy erupted following a report by ESPN's Shams Charania, which indicated that the Buss family had voted to proceed with the sale, potentially ending their nearly five-decade ownership of one of the NBA's most storied franchises.
According to Charania, the Buss family had agreed to sell their minority stake as part of a larger transaction valued at $12.5 billion involving the Lakers' majority owner, Mark Walter. This deal would mark a historic change in ownership and signify the end of Jeanie Buss's role as the team's governor, as NBA rules require a governor to hold at least 15% of the franchise. Jeanie Buss has held the title since her father, Jerry Buss, passed away in 2013.
In a letter addressed to her siblings' legal representatives, Jeanie Buss's attorney, Adam Streisand, asserted that any vote to sell the family's stake was null and void without her consent. The letter emphasized that the family's trust requires approval from all co-trustees, including Jeanie, Janie, and Joey Buss, before any sale can proceed. "No sale of the JAB Trust’s 17.8% ownership interest in the Los Angeles Lakers, Inc. can be effectuated without approval by the current co-trustees," the letter stated.
The situation has escalated tensions within the Buss family, which has a long history of internal conflict over the control of the Lakers. In a pointed accusation, Streisand claimed that Joey and Jesse Buss have engaged in a "years-long pattern" of leaking false information intended to undermine Jeanie's authority. He called the reported vote to sell the stake a malicious act aimed at harming both Jeanie and the team. "This is just the latest incident of defamation against my client," he remarked.
Initially, Charania's report suggested that all six Buss siblings had voted in favor of the sale, but this was later corrected to indicate that only five had supported the move. This discrepancy has raised questions about the reliability of the information being reported, especially in light of Jeanie Buss's strong objections.
The Buss family's ownership of the Lakers began in 1979 when Jerry Buss purchased the franchise. Under his leadership, the team became one of the most successful and popular in sports history, winning 17 NBA championships. Following Jerry's passing, Jeanie Buss took over as the controlling owner, but her tenure has been marked by disputes among her siblings, particularly concerning their respective roles within the organization.
In 2017, Jeanie Buss fired her brother Jim from his position as head of basketball operations, leading to a series of legal battles among the siblings over control of the franchise. Joey and Jesse Buss were later dismissed from their front-office roles, indicating a fractious relationship that has only worsened over time. The current dispute over the sale of the family's remaining stake highlights the culmination of these long-standing tensions.
As the Lakers prepare for the upcoming season, the implications of this ownership struggle could affect the team's management and its performance on the court. With the franchise now under the prospective control of Iger and Kushner, questions remain about how this will impact the Lakers' future direction and stability.
As Jeanie Buss continues to contest the sale, the legal ramifications of her family's vote will likely play out in the coming weeks. Should the sale proceed without her approval, Jeanie's role as governor would be jeopardized, as she would no longer meet the NBA's ownership requirements. This situation places her at a crossroads, forcing her to navigate a complex family dynamic and legal framework to maintain her position.
The Buss family's internal conflict could result in prolonged legal battles, which may distract from the Lakers' preparations for the 2026-27 season. With the NBA's investigation into the Clippers also gaining attention, the league is currently scrutinizing various ownership dynamics, making this a particularly tumultuous time for basketball in Los Angeles.
ESPN's reporting on the situation has come under fire, as the network faces criticism for the accuracy of its sources and the characterization of events. As the story develops, the credibility of NBA insiders like Shams Charania may be tested, potentially impacting how fans and analysts view future reports.
In the aftermath of these developments, Jeanie Buss remains steadfast in her commitment to the Lakers. Her legal team is expected to pursue all avenues to contest the sale and uphold her status as the team's controlling owner. The outcome of this dispute will determine the future of the Buss family's legacy with the Lakers and shape the franchise's direction as it moves forward into a new era.