Jeanie Buss Contests Family Sale of Lakers Stake to Bob Iger and Joshua Kushner

Buss' attorney demanded her brothers retract statements that the family is selling its 17.8 percent ownership stake, citing trust terms that keep her controlling owner for life; any deal still needs NBA board approval.

The Lakers were a family business for four decades, and the sibling rivalries have outlived the sale. Jeanie Buss' attorney has demanded her brothers retract statements that the Buss family is selling its 17.8 percent ownership stake to Bob Iger and Joshua Kushner, per the LA Times.

The letter cites the family trust: co-trustees are bound to vote the Los Angeles Lakers shares to maintain the minimum 15 percent ownership required to keep Jeanie Buss as controlling owner.

What the Trust Actually Says

The trust was revised in 2017 after years of legal battles between Jeanie and her older brothers Johnny and Jim, stipulating that co-trustees would take all actions reasonably available to preserve her control.

Under the terms approved when Mark Walter's purchase of the team closed last October, Jeanie Buss was to remain the Lakers governor for at least five years. A sale below the 15 percent floor would end her eligibility to serve.

The Approval Gauntlet

Any transaction still requires approval from the NBA board of governors. The league signed off on the Walter deal with the Buss family stake and governorship intact; a new structure would reopen that review.

Ownership fights move slower than trade deadlines but hit harder. The governorship question decides who speaks for the franchise at league meetings for the next decade. We will track each filing as it lands.

More from Sports