The latest chapter in the Buss family-Los Angeles Lakers saga is messy and complicated. With five members of the family looking to sell the Buss Family Trust's 17.8% stake in the Lakers, Jeanie Buss is fighting this sale, seeing as it could effectively end her tenure as Lakers governor, a position which requires at least a 15% stake in ownership.
This doesn't look like it's going to be a clean legal victory in either direction. Jeanie and her attorney have already cited a 2017 Los Angeles Superior Court order that instructs the co-trustees of the Buss Family Trust -- Jeanie, Janie, and Joey -- to take all reasonable actions to keep Jeanie as controlling owner for her lifetime unless the arrangement is later modified in court.
By the tenets of this court order, Jeanie's attorney is reportedly asserting that any attempt to sell coming from the Buss Family Trust is a breach of trust and even perhaps a contempt of court.
The Buss family's desire to sell its Lakers stake appears to conflict with 2017 court order
I'm no legal expert, but it does appear that selling the entire 17.8% stake -- as the "Buss 5" siblings are looking to do -- would make complying with the above court order impossible.
On the other hand, ESPN's Dave McMenamin, also conceding that he's not a lawyer, interestingly said this week that he'd be surprised if a judge ruled in favor of Jeanie. McMenamin's view might stem from the feeling that the Buss siblings' unified front and overall strength in numbers will end up being more impactful than a pure, literal reading of the 2017 court order, seeing as there is often so much gray area in family-trust litigation.
The siblings will presumably assert that neither the original trust nor the 2017 court order specifically bans a sale.
Lakers fans hoping for a simple ending to the Buss sale will probably be disappointed
There are arguments to be had on both sides of this legal feud, which is why I personally predict that this won't be a quick or decisive courtroom outcome. But do the Lakers really want to see this thing dragging on for months and years and serving as a distraction? No. That's why I think the ultimate conclusion of this will be a settlement that gives both the Buss 5 and Jeanie a portion of what they're seeking.
The motives are clear here. The Buss 5 want to cash out, and Jeanie wants to do the opposite and stay on as governor of the Lakers through 2031, as was her original deal. The new ownership duo of Bob Iger and Joshua Kushner had previously come out and pledged to honor Jeanie's governorship terms, although the language of that pledge was a bit vague.
There must be a way to orchestrate a partial sale that keeps Jeanie above the 15% line required for governorship while also allowing the siblings to receive liquidity for most of their shares.
In a situation with so many powerful lawyers involved, the above solution feels like a more likely outcome than either the court backing the full sale and the ousting of Jeanie (leaving a vacancy in the governor's chair), or going in the other direction and enforcing the 2017 order and blocking the Buss Family Trust sale entirely.
This isn't going to be a definitive knockout in either direction, is my guess. Some sort of settlement will be reached that gives each side enough of what they're desiring in full. And while it's in the best interest of the Lakers that this all gets sorted as soon as possible, I highly doubt it'll be settled before the 2026-27 season tips off.
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