Lakers Governor Jeanie Buss’ family rift grows as siblings issue scathing letter after $12.5 billion sale

The Los Angeles Lakers sale drama continues to unfold publicly after incumbent Governor Jeanie Buss’ siblings issued a statement after a legal challenge against Jeanie.

The Lakers were sold by the Buss family to Mark Walter for $10 billion in October 2025, but Walter’s recent legal troubles led him to sell the franchise for $12.5 billion less than 15 months later to Bob Iger and Joshua Kushner.

The 17.8% stake in the Lakers that the Buss family retained when they sold to Walter is what the current dispute is over, as Jeanie attempts to block her siblings from selling the remaining stake through a legal petition that the siblings have now responded to.

Buss siblings claim Jeanie Buss’ attempt to block the Lakers sale is ‘legally and factually baseless’

The siblings’ statement against Jeanie outlined the lack of legal foundation for any attempt to block the family stake sale.

“Jimmy, Johnny, Janie, Joey and Jesse Buss, the five of six siblings who voted to sell the Trust’s shares in the Lakers, today filed their formal opposition, demonstrating that Jeanie Buss’s petition is legally and factually baseless.”

“While discussions among the siblings continue, their focus remains on facilitating the proposed transaction and the Trust’s participation in it, while ensuring that all beneficiaries, including Jeanie, are treated equally. Today’s filing is a necessary step to protect those interests and ensure the transaction proceeds on schedule.”

Jeanie filed a motion with the Los Angeles Superior Court against her siblings’ action of selling their stake to the Iger-Kushner group.

If the Buss family owns less than 15% of the Lakers, Jeanie will be ousted from her position as the team’s Governor, as NBA rules require any Governor to own at least 15% of the team.

Jeanie will start the 2026 season as the team’s Governor since the Buss family stake cannot be sold until the matter is presented before a judge, with the first scheduled hearing on December 6, 2026.

If Jeanie loses her legal motion and the Buss family stake, worth an estimated $2.2 billion, is sold, she will receive a sixth of the payment and be forced to give up her seat at the Board of Governors, ending 47 years of Buss family control over the Lakers.

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