Buss siblings vote to sell remaining Lakers stake to Iger and Kushner amid legal dispute

The six heirs of former Lakers owner Jerry Buss have approved a “tag-along” transaction that would transfer their remaining 17.8% share of the franchise to former Disney chief Bob Iger and venture-capitalist Josh Kushner. The deal, valued at roughly $370 million per sibling before taxes, follows last summer’s sale of a majority stake to billionaire Mark Walter, which gave the new owners control of the team.

Jeanie Buss, who serves as the Lakers’ governor and controlling owner under a 2017 court order, has announced that she will challenge the vote. Her attorney, Adam Streisand, said the trustees “are bound to vote … to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain Controlling Owner,” and that any attempt to bypass that requirement would constitute a breach of fiduciary duty and contempt of court.

“Shams Charania of ESPN falsely reported … that my client, Jeanie Buss, is ‘out’ as controlling owner,” the statement read.

The Buss family’s internal dispute has resurfaced after Walter, who is under a federal investigation, agreed to sell his majority interest after just one season. The proposed sale to Iger and Kushner values the Lakers at $12.5 billion. While the financial terms are clear, the legal battle centers on the trust’s “tag-along” clause, which could allow the controlling owner to block or delay the transaction if the required ownership thresholds are not met.

Bob Iger told reporters that the new owners intend to honor Jeanie Buss’s existing agreement to remain governor through the 2029-30 season, adding, “If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she represents.”

The outcome will determine whether the Buss family fully exits the Lakers or retains a minority stake, and could influence the broader ownership structure of the franchise moving forward.