Lakers Ownership Dispute
Jeanie Buss Files Court Petition to Block Siblings From Selling Lakers Stake
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Key Points
1
The majority-stake sale to Josh Kushner and Bob Iger was valued at $12.5 billion, following Mark Walter's earlier purchase of the Lakers from the Buss family for about $10 billion—reflecting a rapid rise in the franchise's valuation.
2
Under NBA governance rules, team governors must own at least 15% of the franchise; Jeanie holds 17.8% but a full sale to Kushner/Iger could strip her of the governor role if control passes to the new majority owners.
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The 97-page petition outlines five Causes of Action, including instructing co-trustees to comply with the 2017 court order to keep Jeanie as the controlling owner and declaring a purported go-along sale resolution void.
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Jeanie contends she was 'blinded' by the deal, 'never consulted,' and 'never informed,' and characterizes her siblings' conduct as 'devious' with a public statement she says was 'knowingly false.
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There has been talk, including reports from The Athletic, that NBA Commissioner Adam Silver could become involved in the Lakers' ownership dispute.
Jeanie Buss filed a Los Angeles Superior Court petition to block her siblings from selling the Lakers' remaining 17.8% stake, claiming they breached fiduciary duties and acted with "devious" motives. Press Enterprise reported that Buss seeks to void the votes of co-trustees Joey and Janie Buss, remove them from their positions, and hold multiple family members liable for damages.
The disputed sale to Josh Kushner and Bob Iger is valued at $12.5 billion. Jeanie argues she was never consulted about the deal and that losing her 17.8% stake would strip her of the governor title—a role protected by a 2017 court order and required by NBA rules demanding at least 15% ownership.
Jeanie Claims Family Sidestepped Her Authority
The 97-page petition outlines five legal claims against her siblings. Jeanie contends she was "blinded" and "never informed" of the deal, and characterizes her siblings' conduct as deceitful. Daily Breeze noted that she wants the court to enforce the 2017 order keeping her as controlling owner and void the siblings' resolution to sell.
Under NBA governance rules, governors must own at least 15% of their team. Jeanie's 17.8% stake qualifies her now. But if the sale closes, control could shift to Kushner and Iger, stripping her of the governor role she has held.
Lakers Valuation Nearly Doubled In Two Years
Mark Walter bought the Lakers from the Buss family for roughly $10 billion. Now Kushner and Iger's group is paying $12.5 billion—a $2.5 billion jump in just two years. OC Register reported that Jeanie argues the franchise's rising value makes selling the remaining stake now ill-advised.
The rapid rise reflects the team's growing brand power and NBA franchise appreciation. Jeanie contends her siblings ignored this upside by rushing to complete the deal without consulting her or other stakeholders who favor keeping her in control.
Multiple Family Members Named In Lawsuit
The petition targets all five of Jeanie's siblings: Joey, Jesse, Jim, Johnny, and Janie Buss. Daily News reported that Jeanie seeks contempt findings and damages against multiple family members. She argues co-trustees Joey and Janie violated their fiduciary duties by approving the sale without her input.
The filing signals the family dispute remains unresolved and could escalate further. There is speculation that NBA Commissioner Adam Silver may eventually weigh in on the ownership fight, given the league's stakes in who controls one of its marquee franchises.
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