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It also addresses Jeanie's side agreement with Walter when he took over the team in October 2025 that arranged for her to remain director and controlling owner for five years, subject to NBA approval. The filing contends that Jeanie is only acting in her own self-interests to preserve her position with the Lakers by preventing the sale that has already been voted in agreement on by her five siblings.
According to a source with knowledge of the siblings’ thinking, who spoke on condition of anonymity to discuss an ongoing legal dispute, their goal is for the Lakers’ sale to Kushner’s ownership group to close without legal delays. The siblings also want to ensure that any arrangement that could allow for Jeanie Buss to retain shares in the Lakers be offered equally to all other siblings.
Shams Charania: The five Buss siblings who voted to sell the family trust’s Lakers shares – Jim, Johnny, Janie, Joey and Jesse – filed in courts their formal opposition Wednesday to Jeanie Buss’ petition seeking to prevent the sale. This comes after unresolved settlement discussions. Statement: "Jimmy, Johnny, Janie, Joey and Jesse Buss, the five of six siblings who voted to sell the Trust’s shares in the Lakers, today filed their formal opposition, demonstrating that Jeanie Buss’s petition is legally and factually baseless. "While discussions among the siblings continue, their focus remains on facilitating the proposed transaction and the Trust’s participation in it, while ensuring that all beneficiaries, including Jeanie, are treated equally. "Today’s filing is a necessary step to protect those interests and ensure the transaction proceeds on schedule."
The initial court hearing as part of Lakers Governor Jeanie Buss’ petition to stop her siblings from selling the family’s ownership shares of the Lakers has been rescheduled. Jeanie Buss’ attorney, Adam Streisand, filed a continuation (postponement) in her petition in Los Angeles Superior Court after the hearing was initially scheduled for Nov. 5. The continuation request was granted, with the hearing being rescheduled for Dec. 8.
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Jeanie Buss, who was chosen by her late father and longtime Lakers owner, Jerry Buss, as his successor before he died in 2013, called her siblings’ behavior “devious” and said in the court filing that they should be held in contempt while also being “liable for damages.” She also called for the removal of Joey and Janie Buss as co-trustees of a trust that holds the family’s remaining stake in the Lakers (17.8 percent), citing breach of fiduciary duty. NBA rules mandate that team governors own at least 15 percent of the team.
Jeanie Buss has petitioned a Los Angeles Superior Court asking that a judge block her five siblings from selling the family’s remaining stake in the Los Angeles Lakers, while accusing them of secretly orchestrating a deal to try to remove her as the team’s governor. The petition, which was processed by the court on Wednesday, is the strongest sign yet that this feud won’t be ending anytime soon.
Jeanie Buss argued in the petition that selling doesn’t make financial sense given the team’s “continuously skyrocketing value,” adding that her goal is to carry out her father’s legacy and create value for fans and the Buss family. That stock will only rise under the new ownership group, she argued.
Several Lakers legends weighed in on the stunning ownership upheaval surrounding one of sports’ most recognizable franchises, speaking exclusively with the California Post at the Harold & Carole Pump Foundation’s 26th Anniversary Celebrity Dinner on Thursday night at the Beverly Hilton. “I don’t think he [Dr. Jerry Buss] would be very happy with the state of the Lakers right now,” three-time Lakers champion Byron Scott said when asked about the family dispute.
“That would be sad,” Horry told the California Post. “It would be strange and very, very sad.” Horry pointed beyond championships and banners to Jerry Buss’ lasting fingerprints on the NBA — the marriage of basketball and Hollywood, the Showtime Era, the Laker Girls and the Forum Club. “There are so many things like that that he brought to basketball that all these other organizations kind of piggybacked off of,” Horry said. “So for the Buss family not to be involved in some way would be such a sad thing.”
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As the fight over what will happen to the Buss family's stake in the Los Angeles Lakers begins in the wake of Mark Walter's shocking sale of his majority ownership of the franchise to Bob Iger and Josh Kushner, one of the team's minority owners, Dr. Patrick Soon-Shiong, has no plans to sell his part of the team. "Dr. Patrick is absolutely not selling his minority share of the Lakers," Chuck "Tiger" Kenworthy, the Soon-Shiong family attorney, told ESPN on Thursday. "Bob Iger and Josh Kushner are good friends, and we will be joining them as supportive, active and engaged partners once they close the transaction with Mr. Walter. We are extremely excited about the Lakers' future and look forward to many more championship years."
Dr. Soon-Shiong, 74, bought into the team in 2010, purchasing a 4% stake from iconic Lakers star Magic Johnson. Known for his innovative cancer research and treatment, Dr. Soon-Shiong is also a successful businessman and surgeon, with a net worth north of $15 billion, according to the Bloomberg Billionaires Index.
If the Buss siblings do sell their part of the team, leaving Jeanie with just under 3% ownership, she would need to acquire an additional 12% of the team in order to hold the requisite 15% to serve as acting governor under the NBA guidelines. Buss would be interested in doing so, The Athletic reported Wednesday, however that number could be difficult to reach without Iger and Kushner -- or some of her siblings -- selling her back a part of the team. With Dr. Soon-Shiong's 4% off the market, the only other minority owner Buss could target in that scenario would be Ed Roski Jr., who owns approximately 3% of the Lakers.
A source with knowledge of Mark Walter’s thinking told The Athletic that the current Lakers owner didn’t believe the latest Buss family disagreement would threaten his deal with Iger and Kushner, which values the Lakers at a record $12.5 billion. Two other league and team sources also said they don’t expect the conflict to impact the transaction that will push the Lakers into their next chapter. In that sense, who the Lakers’ majority owner will be when the 2026-27 season begins isn’t the pressing question at hand.