Jeanie Buss Fights Family Vote to Sell Lakers Stake to Iger and Kushner
Jeanie Buss is challenging her siblings' vote to sell the Buss family's remaining 17.8% stake in the Los Angeles Lakers to investors Bob Iger and Josh Kushner, setting up a legal showdown over who controls one of sports' most storied franchises.
ESPN's Ramona Shelburne reported on 18 August 2026 that Buss's attorney, Adam Streisand, sent correspondence to her five siblings — Jesse, Jim, Johnny, Janie and Joey — who had voted to approve the sale. In the letter, obtained by ESPN, Streisand cited a 2017 court ruling stating that no sale of the Lakers could be completed without the approval of three co-trustees: Jeanie, Janie and Joey Buss (ESPN).
The family had said in a statement earlier on Monday that they voted to sell their remaining shares to Kushner — founder of investment firm Thrive Capital — and Iger, the former CEO of Disney. ESPN reported on 12 August, citing multiple sources, that the pair agreed to buy the Lakers for $12.5 billion, a record price for any sports franchise (ESPN). ESPN's Shams Charania reported on 17 August that the Buss family decided to sell its remaining 17.8% stake to the new majority owners (ESPN).
Jeanie Buss says that vote does not stand. Her lawyer stated that she has not agreed to sell and that any vote suggesting the family is selling the team "would be and is void," according to CNBC (CNBC). Her attorney also demanded that her brothers retract their statements regarding the sale, Yahoo Sports reported (Yahoo Sports). The Athletic's Sam Amick reported that Buss is contesting the vote and characterised the family's strategy as a "breach of trust" (The Athletic).
The roots of the dispute stretch back nearly a decade. In 2017, following litigation, Jeanie Buss was designated the controlling owner of the Lakers through 2030 (Variety). Her lawyers assert that designation gives her the right to approve any sale of the team.
The ownership picture shifted again in 2025. Mark Walter, CEO of Guggenheim Partners, acquired the Lakers from the Buss family in a deal that closed in October 2025, according to Variety. The family retained a minority stake — the 17.8% now at the centre of this dispute.
Iger has reportedly met with Jeanie Buss and vowed to honour her agreement with Walter to remain at the helm of the Lakers through 2030, Variety reported. Whether that pledge, and the 2017 trust arrangement, hold up against the family's vote to exit entirely is now the question.
ABC7 reported that if the sale proceeds, Jeanie Buss will no longer remain governor of the team — the person who represents the franchise at the NBA's Board of Governors (ABC7). ESPN separately reported that infighting within the Buss family drove the sale process in the first place (ESPN).
For a family that has owned the Lakers since Jerry Buss bought the team in 1979, the stakes are both financial and personal. A $12.5 billion valuation, a controlling-owner designation under legal fire, and six siblings divided over the exit — this is a story about who gets to decide the future of a franchise, and whether a family's internal rules can override a majority vote.
