Lakers Ownership in Turmoil as Family Votes to Sell, Jeannie Buss Vows Fight

A significant ownership dispute is brewing within the Los Angeles Lakers organization, potentially complicating the sale of the iconic NBA team. Josh Kushner and Bob Iger have reportedly agreed to a $12.5 billion deal to acquire the Lakers, but a rift within the Buss family, who has owned the team since 1979, threatens to derail the transaction.

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The team, in which many stars have played, most recently Luka Dončić, has been owned by the Buss family since 1979, and after almost five decades, this era could end.

At the heart of the conflict is a 17.8% stake in the team, held by a trust for the late Jerry Buss's children. While Jeannie Buss currently serves as governor, a position requiring at least a 15% stake, a majority vote from the trust's beneficiaries is needed to approve any sale. Recently, a majority of the family members voted to sell their shares, against Jeannie Buss's wishes.

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A real family drama is unfolding, Jeannie will not give up her position as team governor – which she can only hold if she has at least a 15 percent stake – without a fight.

Jeannie Buss is now asserting that a 2017 court ruling mandates her consent for any sale to be valid. Her legal team has stated that any vote without her agreement is void. The other family members reportedly disagree, indicating a legal battle is imminent. This internal turmoil creates uncertainty for the team, including players like Luka Dončić, as the ownership situation remains unresolved, potentially delaying any significant strategic decisions for the franchise.

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Through her lawyers, she announced that a court already decided in 2017 that she must also agree to the sale for it to be valid, otherwise any such vote is meaningless.