Los Angeles Lakers governor Jeanie Buss is fighting her siblings’ plan to sell the family’s remaining 17.8% ownership stake to Josh Kushner and Bob Iger. Her attorney argues that a 2017 court order requires her consent and maintains her position as controlling owner, setting up a high-stakes legal clash.
The dispute shatters what had appeared to be a unified family exit from the marquee NBA franchise. Just days after Iger and Kushner agreed to buy a controlling majority stake from Mark Walter in a deal valued at $12.5 billion, the six Buss siblings released a statement declaring their intent to sell out entirely.
The family statement added: We love the Lakers, Lakers fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.
Adam Streisand Letters and the 2017 Court Order Protecting Jeanie Buss
The legal battlefield centers on governance protections put in place nearly a decade ago. In a letter to the legal representation for Jeanie’s five siblings—Jim, Johnny, Janie, Joey, and Jesse—attorney Adam Streisand asserted that any vote to sell the remaining shares would be and is void
, as reported by CNBC.
Streisand contends that under a 2017 court order stemming from previous family infighting, no sale of the JAB Trust’s ownership interest can occur without the approval of current co-trustees Jeanie, Janie, and Joey Buss. The legal framework was established after Jeanie ousted Jim Buss from basketball operations, leading to a settlement that secured her ongoing control.
How Mark Walter’s $12.5 Billion Sale Triggered the Family Division
The current crisis traces back to business pressures and ownership shifts that accelerated last year. The Buss family originally sold a majority stake in the Lakers to Mark Walter, who also owns the Los Angeles Dodgers. That 2025 transaction included an unusual provision allowing Jeanie Buss to remain team governor through 2030, even though the family no longer held a majority.
Walter’s recent decision to flip his majority stake to Iger and Kushner at a $12.5 billion valuation included a tag-along clause. That clause gave the other Buss siblings the legal opening to demand that their remaining 17.8% share be bought out at the same valuation.
Tensions inside the family escalated sharply the week prior to the announcement. That meeting reportedly alarmed family members, prompting the five siblings to push forward with their vote to cash out following Walter’s deal with Iger and Kushner.
Controlling Ownership and the NBA 15% Rule Stakes
At the heart of the dispute is the NBA’s strict governance threshold. League rules mandate that any individual serving as a team governor must personally own at least 15% of the franchise. If the family trust sells its remaining 17.8% share, Jeanie Buss will drop below that ownership floor, stripping her of her eligibility to sit on the NBA board of governors or run the team.
Representatives for Kushner and Iger declined to comment on the escalating legal dispute. With Streisand demanding that the sibling faction publicly clarify Jeanie’s status as controlling owner, the franchise faces an intense off-court legal battle that threatens to complicate one of the largest ownership transitions in sports history.
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