Jeanie Buss has moved to block a reported sale of the Los Angeles Lakers ownership stake by her brothers Joey and Jesse Buss to Bob Iger and Joshua Kushner. Her attorney sent a letter declaring any such vote void because NBA approval and co-trustee consent are required under a 2017 court ruling. The Buss Family Trust originally held 17.8% of the team after Jerry Buss's passing in 2013, with Jeanie set to remain governor through at least 2028 following Mark Walter's purchase last October. Any deal would need NBA board of governors approval, and if completed, Jeanie would lose her governor role since owners must hold at least a 15% stake. Last result: Los Angeles Lakers 110-115 Oklahoma City Thunder (2026-05-12). Recent form (last 5): 1W-0D-4L (LLLLW, most recent first); lost the last 4.
What happened?
ESPN reported that the six Buss siblings voted to sell their remaining shares to Iger and Kushner as part of Walter's broader transaction valuing the franchise at $12.5 billion. Jeanie Buss, the current Lakers governor, says her brothers Joey and Jesse cannot unilaterally approve the sale without her and younger sister Janie's consent as co-trustees. The trust agreement, revised after legal battles with older brothers Johnny and Jim in 2017, mandates that co-trustees vote shares to keep Jeanie as controlling owner during her lifetime. Her attorney cited this ruling, stating any attempt to bypass her would breach fiduciary duty and constitute contempt of court.
Why it matters for Los Angeles Lakers
If the sale proceeds, Jeanie Buss would no longer qualify as a governor, ending the family's 47-year direct control since Jerry Buss bought the team in 1979. The NBA requires governors to maintain at least a 15% ownership stake, and selling the Buss Trust shares would drop her below that threshold. Meanwhile, Mark Walter's group faces ongoing probes from the Department of Justice, SEC, and state insurance regulators, adding uncertainty to the broader transaction. The Buss family told ESPN they love the Lakers and fans but feel it is time to exit gracefully, though no price for their stake was disclosed.
What comes next?
The NBA board of governors must review the proposed sale before it can move forward, giving Jeanie Buss and her allies time to challenge the vote legally. Until approval, the Lakers remain under Walter's controlling ownership, with Jeanie still serving as governor. Fans can monitor developments through our [fixtures](/fixtures) page as the team prepares for upcoming games. The outcome will shape not only ownership but also the franchise's direction in free agency, draft strategy, and long-term planning amid a competitive Western Conference.
