Buss Siblings File Legal Case to Sell Family Stake in Los Angeles Lakers

Five siblings of Los Angeles Lakers controlling owner Jeanie Buss formally moved to challenge her leadership in court this week, seeking to finalize a sale of the family’s remaining 17.82% stake in the franchise. The filing, submitted Wednesday, October 7, 2026, in Los Angeles Superior Court, pits Johnny, Jim, Janie, Joey, and Jesse Buss against their sister in a legal battle that could carry massive implications for the team’s front office.

The dispute centers on the siblings’ desire to liquidate their collective 17.82% interest, a stake currently valued at approximately $2.23 billion based on a total franchise valuation of $12.5 billion. While the siblings are pushing to exercise what they describe as “tag-along” rights in a larger ownership transition, Jeanie Buss has maintained that she is legally required to retain her position.

The 15% Threshold and the 2017 Precedent

The primary legal defense for Jeanie Buss rests on a 2017 court order. According to her legal team, that ruling mandates her role as the Lakers’ controlling owner for life. Under NBA regulations, a team governor must maintain a minimum 15% ownership stake to hold that title and represent the franchise on the NBA Board of Governors.

If the 17.82% family stake is sold in its entirety, Jeanie Buss’s personal holding would fall below that required 15% threshold, effectively forcing her to step down from her leadership role. Her representatives argue that the 2017 ruling serves as a permanent safeguard for her control, intended to prevent the very type of liquidation currently being sought by her brothers and sisters.

The siblings, however, argue that the previous court order only required them to take “reasonable steps” to ensure her leadership, which they contend does not override their fundamental right to sell their shares at a time of record-high valuations. The $12.5 billion figure attached to the Lakers represents a new benchmark for NBA franchise values, significantly exceeding previous team sales.

Upcoming Court Proceedings

The Los Angeles Superior Court has scheduled a hearing for December 8, 2026, to determine whether the sale can proceed over Jeanie Buss’s objections. The court’s decision will likely hinge on whether the 2017 agreement takes precedence over the trust beneficiaries’ right to exit their investment.

While the majority of the Buss family is now aligned against Jeanie in this filing, other minority stakeholders remain on the sidelines. Patrick Soon-Shiong, the billionaire who holds a 4% stake in the Lakers, has confirmed that he is not participating in the transaction and intends to retain his shares regardless of the outcome of the Buss family litigation.

Should the court rule in favor of the siblings, the Lakers would face their most significant leadership transition since the passing of Dr. Jerry Buss. If Jeanie Buss prevails, she will solidify her “owner for life” status, potentially blocking any major family share sales for the foreseeable future.

The post Buss Siblings File Legal Case to Sell Family Stake in Los Angeles Lakers appeared first on World Weekly News.