Updated: August 19, 2026
The long-running Buss family drama around the Los Angeles Lakers has flared up again. Jeanie Buss, the team’s governor and controlling owner, is locked in a fresh ownership dispute with her five siblings over the family’s remaining 17.8% stake. At the center sits a proposed sale tied to the franchise’s record $12.5 billion valuation. What began as a family legacy under Jerry Buss has turned into one of the most closely watched sports-business fights of the year.
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The Roots of the Buss Family Ownership Battle
Jerry Buss bought the Lakers in 1979 and built a championship empire. When he died in 2013, his roughly 66% stake was left in trust for his six children: Jeanie, Jim, Johnny, Janie, Joey, and Jesse. Each effectively held an equal share.
Tensions surfaced quickly. In 2017, Jeanie fired brother Jim as president of basketball operations. Jim and Johnny then tried to remove her from control. A Los Angeles court order that year affirmed Jeanie as controlling owner for life and named Jeanie, Janie, and Joey as permanent co-trustees of the family trust. The order required the trustees to protect her position.
That legal shield held for years. After the family sold majority control to Mark Walter’s group in 2025 at a $10 billion valuation, they kept a 17.8% minority stake. Jeanie stayed on as governor under an agreement that ran at least through 2030, provided the family’s ownership stayed above the NBA’s 15% threshold for governors. Months later she removed the remaining siblings from team roles, deepening the rift.
How the Latest Lakers Sale Sparked Fresh Conflict
Last week Mark Walter agreed to sell his majority stake to a group led by former Disney CEO Bob Iger and Thrive Capital’s Josh Kushner. The deal values the Lakers at a record $12.5 billion. A tag-along provision from the earlier Walter sale allowed the Buss family to sell their remaining shares at the same valuation.
Five siblings—Jim, Johnny, Janie, Joey, and Jesse—voted to sell the 17.8% stake. Jeanie did not support the move. The siblings issued a statement saying it was time “to move on and exit gracefully.” At the new valuation the family’s share is worth more than $2.2 billion, or roughly $370 million per sibling before taxes.
If the sale closes, Jeanie would fall below the 15% ownership required to remain governor. The NBA has not yet approved the larger transaction, and the family dispute could delay or complicate it.
Legal Arguments: Why Jeanie Buss Says the Sale Is Void
Jeanie’s attorney, Adam Streisand, has sent a sharply worded letter arguing the vote is void. He cites the 2017 court order and the trust terms. No sale of the JAB Trust’s 17.8% interest can happen without approval from the three co-trustees: Jeanie, Janie, and Joey. Those trustees, he argues, are bound to keep ownership above 15% so Jeanie remains controlling owner. Any attempt to do otherwise, the letter states, would breach fiduciary duty and risk contempt of court.
The other siblings maintain the tag-along right allows them to sell and that they intend to proceed through proper channels. The conflict now appears headed toward possible litigation unless the parties reach a private resolution.
What’s at Stake for the Lakers and the Family
Beyond the money, the dispute ends nearly 47 years of Buss-family stewardship of one of the NBA’s most valuable and storied franchises. Key points include:
- Jeanie’s ability to stay on as governor through at least 2030 under the prior agreement
- Whether the trust structure and 2017 court order can block a majority sibling vote
- The new ownership group’s desire for clean control and a clear governor
- The personal and financial outcomes for six siblings who have already collected large sums from the earlier sale
| Key Fact | Details |
|---|---|
| Family Stake | 17.8% remaining after 2025 majority sale |
| Current Valuation | $12.5 billion (Iger-Kushner deal) |
| Approximate Stake Value | Over $2.2 billion total |
| NBA Governor Rule | Minimum 15% ownership required |
| Co-Trustees | Jeanie, Janie, Joey Buss |
| 2017 Court Order | Protects Jeanie as controlling owner for life |
| Siblings Supporting Sale | Jim, Johnny, Janie, Joey, Jesse |
Conclusion
The Jeanie Buss siblings ownership dispute is the latest—and possibly final—chapter in a family story that has mixed championship glory with private conflict. Jeanie is fighting to preserve both her leadership role and what she sees as her father’s intent. Her siblings see a clean exit at peak value. Courts, the NBA, and quiet negotiations will decide the outcome. For Lakers fans the on-court product remains the priority, yet the off-court drama underscores how even the most successful sports empires can fracture when family, money, and control collide. The coming weeks will show whether this chapter closes with a sale, a settlement, or another round of courtroom battles.