Jeanie Buss Challenges Lakers Stake Sale as Buss Family Dispute Escalates
Los Angeles Lakers governor Jeanie Buss is opposing her siblings’ plan to sell the Buss family’s remaining 17.8% stake in the franchise. The proposed sale would transfer the shares to Josh Kushner and former Disney CEO Bob Iger.
What Is the Dispute About?
Five members of the Buss family have said they are united in their decision to sell the family trust’s remaining Lakers shares. Jeanie Buss did not agree to the decision and is challenging it through her attorney.
The proposed transaction reportedly values the Lakers at approximately $12.5 billion. The deal is connected to the larger purchase of the franchise’s controlling interest by Bob Iger and Josh Kushner from Mark Walter.
Jeanie Buss’ Position
Jeanie Buss’ lawyer has argued that the sale cannot be completed without her approval. Her legal position reportedly relies on trust governance rules and a 2017 court ruling involving the Buss family.
Her five siblings have said they have the authority to sell the remaining family stake. That disagreement could lead to further legal proceedings or a negotiated settlement.
Why Does This Matter for the Lakers?
The dispute could affect both the ownership structure and the leadership of one of the NBA’s most valuable franchises.
Reports indicate that NBA ownership rules require a team governor or controlling owner to hold a minimum ownership percentage. If the 17.8% family stake is sold, Jeanie Buss could fall below the required threshold to remain Lakers governor.
Possible consequences include:
- Jeanie Buss’ future as Lakers governor could be questioned
- The Buss family’s long ownership era could come to an end
- A new ownership structure could be created
- The transaction may require NBA approval and legal review
[INTERNAL LINK: Lakers ownership history article URL]
The Buss Family’s Lakers History
Jerry Buss purchased the Lakers in 1979. After his death, Jeanie Buss became the team’s governor and controlling owner. She took over the leadership role in 2013 and helped guide the franchise during its 2020 championship season.
Latest Update
The five Buss siblings continue to support the planned sale, while Jeanie Buss is pursuing a legal challenge. It remains unclear whether the transaction has been completed or whether the NBA has formally approved the ownership change.
FAQ
How much of the Lakers is the Buss family planning to sell?
The family is reportedly planning to sell its remaining 17.8% stake.
Who are the proposed buyers?
Josh Kushner and Bob Iger have been identified as the proposed buyers.
Does Jeanie Buss support the sale?
No. Her attorney is challenging the planned transaction.
Why could Jeanie Buss lose her governor position?
The sale could reduce her ownership percentage below the threshold required under NBA ownership rules.
Conclusion
The Lakers ownership dispute has developed into more than a family disagreement. It could affect franchise governance, Jeanie Buss’ leadership role and the final structure of the Lakers’ new ownership group.
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