LA Lakers Dynasty Faces Internal Fracture as Jeanie Buss Moves to Halt Family Sale
Constantvpn.com – The woman who steered the Los Angeles Lakers to their 2020 NBA title — the first female controlling owner ever to do so in the league’s history — is now locked in a bitter dispute with her own siblings over the franchise’s future. Jeanie Buss, who has served as Lakers governor since her father’s passing in 2013, is preparing to challenge a family vote that would liquidate the remaining 17.8% stake held by the Buss Family Trust.
The sale she opposes would hand the controlling interest in one of sport’s most storied franchises to a consortium led by Josh Kushner and former Walt Disney Company chairman Bob Iger. The two men struck a deal last week to acquire the majority position from Mark Walter for $12.5 billion (£9.3 billion), a figure that, if ratified by the NBA’s board of governors next month, would set a new benchmark as the priciest sports-team transaction ever recorded.
The Family Vote and Its Aftermath
The Buss name has been attached to the Lakers in some ownership capacity since 1979, when Jerry Buss purchased the franchise — along with the Los Angeles Kings hockey club and the venue now branded the Kia Forum — in a $67.5 million (£50 million) transaction. Following Jerry’s death in 2013, control devolved to his six children, with Jeanie assuming the governor role.
Last year, the family sold a controlling share to Walter for roughly $10 billion (£7.45 billion). That arrangement included a provision guaranteeing Jeanie’s position as governor through 2030. Yet on Monday, the family issued a public statement announcing a collective decision to divest the residual 17.8% holding to the incoming ownership group.
“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction. We love the Lakers, Lakers fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”
That statement, however, did not account for Jeanie’s position within the trust’s governance structure. Her attorney, Adam Streisand, responded with a formal letter addressed to her five siblings, asserting that any vote authorizing the sale “would be and is void” because Jeanie, as one of three co-trustees alongside siblings Joey and Janie Buss, must consent to such a disposition.
Legal Grounds for the Challenge
Streisand’s letter lays out a layered argument. He contends that the co-trustees carry an obligation to preserve the minimum 15% ownership threshold so that Jeanie can continue functioning as controlling owner. He warns that any co-trustee who facilitates or supports a sale vote without her participation would commit a breach of trust, a breach of fiduciary duty, and conduct amounting to contempt of court.
“On behalf of Jeanie Buss, I demand that your clients make clear publicly that Jeanie Buss is the controlling owner of the Los Angeles Lakers and that your clients shall take no action on this supposed ‘vote’ to sell the 17.8% stake.”
The dispute raises questions about how family-held sports assets are governed when multiple heirs hold joint fiduciary roles. In practice, the outcome could reshape not only who controls the Lakers but also whether Jeanie’s governorship — enshrined in the prior transaction’s terms — survives intact.
Walter’s Windfall and the Kushner Connection
For Walter, the Kushner-Iger deal represents a remarkably swift return on capital. Having acquired his position from the Buss family for approximately $10 billion last year, he would realize a profit of around $2.5 billion (£1.9 billion) within roughly twelve months. Walter, who also holds a minority stake in the Los Angeles Dodgers alongside Chelsea Football Club chairman Todd Boehly, has built a portfolio spanning multiple marquee Los Angeles franchises.
Kushner’s involvement carries additional scrutiny. He is the brother of Jared Kushner, son-in-law of President Donald Trump, and his venture-capital firm Thrive Eternal was positioned to anchor an investor group for FIFA’s Forward Enterprise proposal — a plan to monetize stakes in the governing body’s competitions. That initiative was ultimately shelved amid controversy surrounding FIFA president Gianni Infantino, lending a layer of institutional controversy to Kushner’s current sports-ownership ambitions.
What the Lakers Legacy Looks Like
The franchise at the centre of this dispute carries 17 NBA championships, eleven of which were won during the Buss era of ownership. That tally sits one title behind the Boston Celtics’ all-time record. For Jeanie, the question is whether her role as governor — and the continuity of family influence she helped preserve through the 2020 title run — can survive a transaction she did not authorize and does not endorse.
The NBA board of governors is expected to consider the Kushner-Iger acquisition next month. Until that vote occurs, the Lakers’ ownership structure remains in flux, and the Buss family’s four-decade relationship with the franchise hangs in the balance of a courtroom dispute between siblings.
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