Jeanie Buss is contesting the sale of her family's minority stake in the Los Angeles Lakers to Bob Iger and Josh Kushner.
The dispute threatens to end the Buss family's 47-year role in the franchise's ownership [2]. While some reports indicate the family has already parted ways with the team, the governor of the Lakers maintains that the transaction is not valid.
On Monday, Aug. 17, reports emerged that the Buss family voted to sell its 17.8% minority ownership stake [1, 3]. The prospective buyers include Disney CEO Bob Iger and investor Josh Kushner [1]. This vote involved six of the Buss children [2].
Jeanie Buss argues that her siblings do not have the authority to sell the stake without her consent [2, 4]. She maintains that the move would prematurely terminate the family's legacy with the team [2, 4].
A lawyer for Jeanie Buss said any vote suggesting the Buss family is selling "would be and is void" [2].
Contradictory reports have surfaced regarding the finality of the deal. Some sources state the family officially parted ways with the franchise on Monday [4]. However, other reports indicate that because Jeanie Buss remains governor and is contesting the sale, the family would retain its involvement [2].
The conflict centers on whether the siblings' vote holds legal weight over the family's collective holdings [1, 2]. The Lakers have been a cornerstone of the Buss family's identity for nearly five decades [2].
“"any vote suggesting the Buss family is selling "would be and is void."”
This legal battle highlights a fracture in the Buss family's governance of one of the world's most valuable sports franchises. If the sale is upheld, it marks the end of a multi-generational era of family control. If Jeanie Buss prevails, it reinforces her authority as governor over her siblings' financial interests in the team.
