Feud over Lakers $12.5 BILLION sale escalates as Buss family double down on plan to sell despite legal threat from sister Jeanie

The Buss family’s feud over the ownership of the Los Angeles Lakers has taken a new twist after Jeanie Buss’ siblings are standing firm in their stance.On Monday, the Buss family trust announced they had received the necessary number of votes to sell off their remaining 17.8 percent stake to Bob Iger and Joshua Kushner, the new ownership group that is purchasing a majority stake in the team from Mark Walter.Hours after that sale was announced, team governor Jeanie Buss issued a statement through her lawyer declaring the decision null and void as she was the sole sibling that did not vote in favor of selling the team.On Tuesday afternoon, her five siblings – Jim, Johnny, Janie, Joey and Jesse – released a statement maintaining their decision to sell.’The Los Angeles Lakers have never been just a basketball team. They have been one of the greatest privileges of our lives,’ the statement read. ‘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.’ Five of the six Buss siblings (including Joey, left, and Jesse, right) are re-affirming their intentions to sell the family’s remaining 17.8 percent stake in the Los Angeles Lakers The statement comes after their sister and the team’s governor, Jeanie Buss, sent a letter through her lawyer declaring the sale void due to a 2017 court ruling  The siblings plan to sell the stake to incoming owners Joshua Kushner and Bob IgerWalter’s decision to sell the team was announced last week, with Kushner and Iger buying the team for $12.5billion. Now, the five siblings are seeking a clean transition from ownership.’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,’ the statement from the Buss siblings added. ‘We are confident they will honor everything this franchise stands for while building upon the foundation our father created.’Late on Monday, a letter from Jeanie’s lawyer, Adam Streisand, claimed that she didn’t agree to sell the team and that any vote on a sale would be ‘void ab initio.’ Streisand also filed paperwork with the Superior Court of Los Angeles Central District to stop the sale.The letter claims that any sale would have to be approved by all three of the co-trustees: Jeanie, Janie and Joey.’No sale of the JAB Trust’s 17.8% ownership interest in the Los Angeles Lakers, Inc. can be effectuated without approval by the current co-trustees, i.e., Jeanie, Janie and Joey Buss,’ Streisand said in the letter obtained by multiple outlets.’Pursuant to the JAB Trust and the attached Court Order, the co-trustees are bound to vote the Los Angeles Lakers, Inc. shares to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain Controlling Owner.’Any attempt by the co-trustees to do otherwise, and any attempt to aid or abet the co-trustees as such, would constitute a breach of trust, breach of fiduciary duty and be in contempt of court.’ The Buss family owned the Lakers for decades beginning with a purchase from Dr Jerry BussThe letter added: ‘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.’Jeanie has been the controlling owner and Governor of the team since her father’s passing in 2013, including through Walter’s ownership. In order to remain in that position, she must retain 15 percent ownership. When Walter bought the team in 2025, an agreement was reached to allow Jeanie to be the team’s Governor through 2030. Iger previously told the California Post that he and Kushner intended to honor this agreement.However, in the letter sent by her lawyer, the attorney claims that the rules of the family trust and a 2017 court ruling insist the co-trustees must ‘take all actions reasonabl[y] available to them, including voting the Trust’s shares, to ensure that [Jeanie] is elected as the Controlling Owner of the Lakers on an annual basis during [her] lifetime.’Streisand also categorized the announcement of the sale of the trust’s stake as ‘just the latest instance of a years-long pattern whereby Joey and Jesse Buss leak false, defamatory and pernicious “information”… for the malicious purpose of doing harm to the Los Angeles Lakers so long as Dr. [Jerry] Buss’ chosen successor, Jeanie Buss, carries out her father’s wishes.’In the statement announcing the sale, the other five Buss children said: ‘We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction.  Jeanie’s lawyer argues that a court ruling forces the family trust to ensure that she is a controlling owner of the Lakers for the rest of her life The Buss family sold the franchise to Mark Walter in a deal valuing the team at $10 billion’We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.’In the agreement, Kushner and Iger are buying about 65 percent of the Lakers from Walter. If the Buss family sells their share, the two investors would own roughly 83 percent of the franchise.Kushner currently has a minority ownership stake in the Miami Heat that he must sell before the Lakers deal is finalized.In addition, the NBA’s Board of Governors must approve the sale. The group is set to meet in New York on September 15 and 16.