Last week, Mark Walter agreed to sell a controlling interest in the Lakers to former Disney CEO Bob Iger and venture capitalist Josh Kushner for a record $12.5 billion.
Breaking: The Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to new majority owners Josh Kushner and Bob Iger, sources tell ESPN.
The Buss family trust — composed of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse — received… pic.twitter.com/hPVqOvsuZ0
— Shams Charania (@ShamsCharania) August 17, 2026
Days later, the Buss family said in a statement reported by ESPN Shama Charania that all six siblings: Jeanie, Jim, Johnny, Janie, Joey and Jesse has agreed to sell their remaining 17.8% stake to the same Iger-Kushner group at the same valuation, adding it was time to “exit gracefully.”
The vote was put together quickly. But just days before, the Lakers’ senior vise president of finance had called an emergency meeting of the siblings to discuss dissolving the family trust altogether, with no mention of an impending sale. Then the Iger-Kushner deal surfaced the following day.
Jeanie Comes Back
Jeanie Buss says the vote never happened, at least not with her approval.
Lakers governor Jeanie Buss, through attorney Adam Streisand, has accused siblings Jesse and Joey of leaking false information to ESPN and is seeking public confirmation that she remains the team’s controlling owner.
Full letter from Jeanie Buss’ lawyer: https://t.co/zE61ZAlT7p pic.twitter.com/WlreR6EiUP
— Underdog NBA (@UnderdogNBA) August 17, 2026
Family sources told ESPN that only three siblings voted yes to sell in a prior vote months ago; this time two more siblings voted yes, with Jeanie abstaining.
NBA rules require a governor to hold at least 15% ownership, and if she loses that, her run in that role, dating back to 2013, ends.
But Iger has said he intends to honor Walter’s earlier promise to keep her as governor through 2030, though he added circumstances could still change.
Not Their First Battle
This is not new territory for the Busses. In 2017, Jeanie fired ber brother, Jim Buss from basketball operations and he and Johnny tried to remove her from her board seat before the sides settled.
Joey and Jesse, who were in the front office, were fired earlier this year after backing last year’s sale to Walter.
Whether this latest dispute will end up in court or quietly settled again is unknown.
