The Buss siblings are not backing down following a legal challenge from their sister Jeanie to their plan to sell the family’s remaining share of the Los Angeles Lakers. A day after the initial announcement, Jim, Johnny, Janie, Jesse and Joey Buss released a statement thru Shams Charania of ESPN that they intend to move forward with their plan to sell their collective 17.8% share of the Los Angeles Lakers. Tuesday’s statement is a response to their sister Jeanie, who challenged that plan in a letter from her lawyer Monday declaring that any sale of the Buss family share was “void.”
“The Los Angeles Lakers have never been just a basketball team,” the statement from the five Buss siblings reads, per Charania. “They have been one of the greatest privileges of our lives. Our focus has always been on what we believe is best for the Lakers, the fans who have supported this franchise for generations and the greater Los Angeles community. “Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family's remaining stake, and we remain united in that decision. We intend to move forward thoughtfully, respectfully and through the appropriate process. “We have tremendous respect for Bob Iger and Josh Kushner and believe they understand what the Lakers represent to Los Angeles and our incredibly loyal fan base. We are confident they will honor everything this franchise stands for while building upon the foundation our father created.”
Jeanie has been the Lakers’ governor since the 2013 death of their father, Jerry Buss, who had held majority ownership of the Lakers since he bought the team in 1979. Buss left his 66% majority stake in the Lakers in equal parts to his six children upon his death, and Jeanie took over as team governor. The Busses sold their majority share to Mark Walter in 2025 at a $10 billion valuation, but retained a collective 17.8% ownership via multiple trusts. Walter then agreed to sell his majority share to Iger and Kushner last week. On Monday, the five Buss siblings not named Jeanie announced their intent to sell that remaining share in a statement they shared with Charania. Hours after that announcement, Jeanie issued a scathing response through her attorney Adam Streisand challenging the planned sale.
"No sale … can be effectuated without approval by the current co-trustees, i.e., Jeanie, Janie and Joey Buss," Streisand wrote. "On behalf of Jeanie Buss, I demand that your clients make clear publicly that Jeanie Buss is the Controlling Owner of the Los Angeles Lakers and that your clients shall take no action on this supposed "vote" to sell the 17.8% stake."
This story will be updated.