A high-stakes legal battle regarding the future ownership of the Los Angeles Lakers escalated on Wednesday as five of the six Buss siblings formally filed their opposition against acting governor
In a statement released following the filing, Jimmy, Johnny, Janie, Joey, and Jesse Buss characterized Jeanie's previous legal petition as both factually and legally baseless. The siblings maintained that their primary objective remains the facilitation of the proposed transaction, which is valued at $12.5 billion, while ensuring that all trust beneficiaries—including their sister—are treated equitably.
Legal arguments and the 2017 court order
The conflict originated in August when Jeanie Buss, represented by attorney Adam Streisand, filed a 97-page petition seeking to block the sale. The siblings' 36-page response directly challenges the arguments presented by Jeanie’s legal team, specifically addressing a 2017 court order that Jeanie contends prevents the family from selling the team without her consent as the controlling owner.
The siblings argue that the 2017 order, which appointed Joey and Janie as co-trustees alongside Jeanie, was intended to maintain her status as controlling owner but did not strip the beneficiaries of their separate rights to terminate the trust. They assert that the current termination provision they are exercising is distinct from the stipulations established in that previous order.
Financial stakes and allegations of conflict
The filing highlights the significant financial implications of the proposed deal, noting that the trust stands to gain $2.2 billion through a tag-along provision if the sale to the Kushner-Iger group proceeds. The siblings further allege that Jeanie is acting out of personal interest to preserve her own position as director and controlling owner, a role she secured through a side agreement with Mark Walter in October 2025.
According to the filing, Jeanie’s efforts to block the sale conflict with her fiduciary obligations to the trust and its beneficiaries. The legal proceedings, which were originally slated for November 5, 2026, have been rescheduled for December 8, 2026. The sale itself is reportedly contingent upon a vote by the NBA Board of Governors, which is expected to take place in November.
