The Los Angeles Lakers are currently in flux, with Mark Walter recently agreeing to sell his majority stake in the franchise to Bob Iger and Josh Kushner, and the Buss family following that up by voting to sell their remaining shares to the tandem as well. However, the drama doesn’t end there, as current Lakers governor Jeanie Buss is contesting that vote and seeking to remain in power with L.A. despite her siblings wanting to sell.
This situation is one of the biggest sources of drama the NBA has had in years, along with the L.A. Clippers Aspiration scandal. The team’s governor is entering into a grizzly legal battle with her own family to try and keep control of the team. It’s unclear exactly how the legalese of the fight will work out, but Buss is willing to do anything to maintain the 15% required to stay governor, including buying her own shares, per Sam Amick and Dan Woike of The Athletic:
Could there be a way for the rest of the siblings to sell and Jeanie to remain as governor? That would require her finding a way to still own at least 15 percent of the shares, but it is possible. Per a league source, Jeanie would be open to exploring that scenario.
Buss had a written agreement with Walter when he purchased the majority stake of the team that she would remain governor for at least five years. That was expected to continue with Iger and Kushner running the team, although Iger left open the possibility that things could change.
In order to be a governor of an NBA team, an individual must own at least 15% of said team. The Buss siblings own a combined 17.8%, which means Jeanie would essentially have to buy all of her siblings’ shares to remain governor. It remains to be seen if Iger and Kushner would be on board with that.
This will be a tricky and fascinating story to watch unfold over the next few months. It’s unlikely to resolve quickly and will assuredly go well into the 2026-27 season, when Luka Doncic and the roster will be trying to form a winning culture on the court.
Lakers facility is business as usual
Behind the scenes, this ownership struggle is going to be a massive deal. But when it comes to the boundaries of a court, things don’t seem like they’re going to change in L.A. It was reported that everything inside the Lakers facility is running as usual, unaffected by the drama surrounding the franchise.
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