Story perspectives

Buss Siblings Vote to Sell Lakers 17.8% Stake for $12.5B

8/19/2026

Summary

Story summary

Five of Jerry Buss’s children voted on August 18, 2026 to sell the Lakers’ 17.8% stake for $12.5 billion.
Jeanie Buss, Lakers governor, challenged the sale, citing a 2017 court order requiring co-trustee approval.
The siblings invoked a tag-along clause from the 2025 $10 billion Mark Walter deal.
The sale would drop the Buss family below the 15% threshold needed for Jeanie Buss to stay governor, possibly prompting legal action and NBA Board approval.

History

Historical Context

Jerry Buss bought the Lakers in 1979 for $16 million, establishing family ownership. After the 2025 sale of the majority interest to Mark Walter’s group, the Buss heirs retained a 17.8% share; a 2026 vote to sell it would drop them below the NBA’s 15% ownership rule that permits a minority owner to serve as governor, likely forcing a new league governor appointment.

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Story summary

Five of Jerry Buss’s children voted on August 18, 2026 to sell the Lakers’ 17.8% stake for $12.5 billion.
Jeanie Buss, Lakers governor, challenged the sale, citing a 2017 court order requiring co-trustee approval.
The siblings invoked a tag-along clause from the 2025 $10 billion Mark Walter deal.
The sale would drop the Buss family below the 15% threshold needed for Jeanie Buss to stay governor, possibly prompting legal action and NBA Board approval.

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