Family drama over the sale of the LA Lakers escalates: Jeanie Buss vetoes the sale of the remaining 17.8 percent stake, while her siblings claim they sold the shares to Bob Iger and Joshua Kushner.
After it was reported last week that Bob Iger and Joshua Kushner are buying a majority stake in the Los Angeles Lakers for a record $12.5 billion, the family drama over control of the storied NBA franchise has escalated in court. Jeanie Buss, the Lakers' owner and CEO, has, through her attorney Adam Streisand, vetoed the sale of the remaining 17.8 percent family stake, which her siblings allegedly agreed to sell to the same duo.
In a letter released via CNN, Streisand demanded that it be publicly confirmed that Jeanie Buss is the controlling owner of the Lakers. "On behalf of Jeanie Buss, I demand that your clients publicly acknowledge that Jeanie Buss is the owner of the Los Angeles Lakers and that your clients take no action regarding this purported 'vote' to sell the 17.8 percent stake," the letter states.
The attorney also conveyed that "any vote by any of the Buss siblings to sell would be and is invalid" and that any attempt to sell without her approval would constitute "a breach of trust, a breach of fiduciary duty, and a disregard for the court." The letter references a 2017 court order that confirmed Jeanie Buss as the controlling owner.
On the other hand, the Buss Family Trust issued a statement to ESPN claiming that the family has sold the remaining shares. "We have decided as a family to sell the remaining shares of the Buss Family Trust to Bob Iger's group as part of the ongoing transaction. We love the Lakers, we love the Lakers fans, and we will continue to support Los Angeles, but it's time to seize this opportunity to move on and exit with dignity while we still can," the statement reads.
According to reports, at least five of the six children of the late Jerry Buss agreed to the sale. Jeanie Buss, the 64-year-old sister, disputes that decision and argues that the sale is not valid without her consent as co-trustee. Sources differ on the number of children who supported the sale, further complicating the legal situation.
This is not the first time the Buss family has found itself in conflict over control of the Lakers. After Jerry Buss's death in 2013, Jeanie became the team's governor, and in 2017 a legal battle erupted when brothers Jim and Johnny attempted to organize a meeting to remove her from the top position. Jeanie responded with a lawsuit and obtained a restraining order, and the court affirmed her status as controlling owner.
In February 2017, Jeanie fired her brother Jim from his role as vice president of basketball operations and replaced him with Magic Johnson. Jim challenged her right to fire him, and Johnny later said in the Hulu documentary series "Legacy: The True Story of the LA Lakers": "We weren't trying to get rid of Jeanie as president of the Lakers. We wanted Jeanie to understand that Dad wouldn't want you to just take complete control, hire and fire whoever you want, without involving the rest of us."
Jeanie countered in the same series: "They tried to disregard what their father wanted. It's a betrayal of all the hard work and what he did for us to make this possible. I felt there was this desire to remove me or stab me in the heart."
In November 2025, Joey Buss, the 41-year-old former alternate governor and vice president of research and development, and Jesse Buss, the 38-year-old former assistant general manager and director of scouting, were let go from the Lakers. Their sister Janie Buss, 62, resigned from an administrative position. Joey told The Athletic: "As time went on and there was a lack of communication not only between my sister and me but across the entire organization while I was dealing with various health issues, I kind of felt the writing was on the wall."
Janie told ESPN in January 2026: "I don't think my dad would be happy with how things have played out. Not at all." She added that Jeanie "has always been the big sister" and that she "had to keep us all together and happy."
The majority sale to Iger and Kushner is still awaiting approval from the NBA's Board of Governors. If approved, Joshua Kushner, the brother of Jared Kushner, son-in-law of President Donald Trump, would become the majority owner, with Iger deeply involved in a leadership role. However, Jeanie Buss maintains that the family's sale of the stake cannot proceed without her consent, citing the 2017 court order.
The Lakers have won 17 NBA championships, 11 of them while the Buss family has owned the team, with their most recent title coming in the 2019-20 season. Jeanie Buss told CNBC in February 2026: "My brothers and sisters were involved in the decision that was made. It's about the Lakers and the greatness and what the fans expect, and you need resources and direction. I think it's fair to say that my family, we all have different opinions and we live our lives, we choose what we want to do with our time, and this was the best decision for all six of us."
The Buss family has been associated with the club since 1979, when Jerry Buss bought the team from Jack Kent Cooke for $67.5 million. Last year, the family sold a majority stake to Mark Walter, owner of the Los Angeles Dodgers baseball club, for $10 billion, a deal that was supposed to secure Jeanie Buss's position as governor until 2030. Now Walter has decided to sell his stake to Iger and Kushner, reigniting the family feud.
