Jeanie Buss Challenges Family Vote to Sell Remaining Lakers Stake

The Buss family’s trust, which holds a 17.8% ownership interest in the Los Angeles Lakers, is slated to be sold to the consortium of former Disney CEO Bob Iger and venture capitalist Josh Kushner. Jeanie Buss, the team’s governor and controlling owner, has filed a legal objection through her attorney, Adam Streisand, asserting that the family vote to sell is void under a 2017 court order that requires her consent for any transfer of the trust’s shares.

CNNESPNFox Business (website)CNBCDeadline Hollywood

Jerry Buss bought the Lakers in May 1979 and the family retained control for decades, overseeing 11 NBA championships. In June 2025, the majority stake was sold to Mark Walter for a then-record $10 billion, with a “tag-along” provision allowing the Buss family to sell its remaining shares at the same valuation if the majority owner sold his interest. The siblings later voted to invoke that provision after Walter agreed to a $12.5 billion sale to Iger and Kushner. The 2017 Los Angeles Superior Court order cited by Streisand mandates that any sale of the JAB Trust’s 17.8% interest must be approved by the co-trustees—Jeanie, Janie and Joey Buss—to preserve the minimum 15 % ownership needed for Buss to remain governor.

ESPNFox Business (website)CNNCNBC

• Stake size: 17.8 % of Lakers, Inc.

Deadline Hollywood

• Valuation: $12.5 billion (same as Walter’s sale price).

Fox Business (website)

• Ownership threshold: NBA rules require a governor to hold at least 15 % of a team.

ESPN

• Family vote: Reported as unanimous among five siblings; Jeanie Buss abstained.

Fox Business (website)

• Potential control shift: If the sale proceeds, Iger and Kushner would own roughly 83 % of the franchise.

CNN

• Adam Streisand’s letter: The attorney argues that the vote “would be and is void” because the 2017 court order obligates the co-trustees to maintain the 15 % ownership floor for Jeanie Buss. He warns that any attempt to bypass this order would constitute a breach of fiduciary duty and contempt of court.

CNBC

• Vote composition: ESPN and Fox Business report a unanimous 5-0 vote among the five siblings who voted, with Jeanie Buss the lone dissenting sibling who abstained.

Fox Business (website)

• Sale status: The family’s public statement declares the sale decided, while Streisand’s letter contends the vote is legally null. No definitive court ruling has been reported.

CNN

The NBA Board of Governors must approve the majority sale to Iger and Kushner at its scheduled meeting in New York City. Approval is a prerequisite for the transaction to close, and the outcome will determine whether Jeanie Buss can retain her governor status under the league’s 15 % ownership rule.

ESPN

• “If (Jeanie Buss’ siblings) try and push this, I will go to court to seek to hold them in contempt and to issue injunctions,” — Adam Streisand, through her lawyer

CNN

• “We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise,” — Bob Iger, former Disney CEO

Deadline Hollywood