Jeanie Buss Sues to Block Sale of Family’s 17.8% Lakers Stake at $12.5 Billion

Q: With a November 2026 court date looming, can Jeanie Buss legally block her siblings from cashing out their multibillion-dollar Lakers inheritance?

Yes—possibly, but only if a judge agrees that the family trust and the 2017 court order give her veto power or otherwise require the trustees to preserve her control position. Jeanie Buss’s case is not really about whether her siblings want to cash out; it is about who has legal authority to sell shares held in the Buss family trust. Her lawyers argue that the trust is controlled by three co-trustees—Jeanie, Janie and Joey—and that the 2017 Los Angeles court order required those trustees to take all reasonable steps to keep Jeanie as the Lakers’ controlling owner. Because NBA rules require the governor to hold at least 15%, her side says selling the family’s full 17.8% stake would unlawfully strip her of that status. On that reading, any vote without her consent is void. Her siblings appear to have a nonfrivolous counterargument. Reporting indicates they believe the trust allows action by majority vote and that the 2025 sale documents gave them tag-along rights to sell on the same terms as Mark Walter. If that interpretation is correct, they may argue Jeanie cannot unilaterally block a sale that five of six beneficiaries support. So the answer turns on documents that are not public in full: the trust terms, the 2017 order, and the 2025 tag-along agreement. Until the Nov. 5, 2026 hearing, Jeanie has a credible legal basis to delay or challenge the sale. Whether she can permanently stop it is uncertain and will depend on how the court interprets those governing documents.

3 articles · Updated · USA TODAY · Aug 27

Jeanie Buss asked Los Angeles County Superior Court to stop her five siblings from selling the family’s 17.8% Lakers stake, saying the move would strip her of control of the franchise.
The petition accuses the siblings of a "scheme" to circumvent the family trust, cites ESPN reports that five siblings had united to sell, and seeks contempt findings against three brothers.
NBA ownership rules require the Buss family to keep at least 15% for Jeanie Buss to remain controlling owner, despite a 2025 deal that sold a majority stake to Mark Walter and preserved her role through Oct. 30, 2030.
The fight revives a long-running family feud: Jerry Buss left equal shares to his six children in 2013, and Jeanie Buss previously sued Jim and Johnny in 2017 over an effort to oust her.
The dispute comes after Josh Kushner and Bob Iger agreed to buy the Lakers at a record $12.5 billion valuation, though Jeanie Buss says some minority owners also believe the team’s value will keep rising.