An attorney for Jeanie Buss says she will fight her siblings' plan to sell their 17.8% stake in the Los Angeles Lakers to former Disney chief executive Bob Iger's new majority ownership group, according to multiple media reports on Monday. The tale began with reports from The Athletic, ESPN, USA Today and Los Angeles outlets citing a Buss family statement after Iger and Joshua Kushner paid a record $12.5 billion for the team last week from prior majority owner Mark Walter.Also Read - <a href="https://www.wionews.com/sports/cristiano-ronaldo-hints-retirement-vogue-interview-al-nassr-1786940747796">‘Probably My Last Year’: Ronaldo teases football retirement after 2026/27 season</a>"We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction," the family statement said."We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can."But that was not the end of the story as a lawyer for Jeanie Buss, a co-trustee in the family trust that holds the Lakers interest, wrote a letter to her siblings that was obtained by CNBC and ESPN.Attorney Adam Streisand, representing Jeanie Buss, said in the letter to her five siblings that she has not agreed to sell the team and any vote suggesting a sale "would be and is void" because her approval as one of three co-trustees, along with Joey and Janie Buss, is needed for such a move."Co-trustees are bound to vote to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain controlling owner," the letter said."Any attempt by the co-trustees to aid or abet the co-trustees as such, would constitute a breach of trust, breach of fiduciary duty and be in contempt of court."Jeanie Buss has been the Lakers' NBA governor since 2013, taking over after the death of her father, Jerry Buss, and ESPN reported she was the only family member not to vote for the sale.She had a deal with Walter to remain as the team governor but after the sale of the family interest, she would not have the 15% stake needed to remain in that position."On behalf of Jeanie Buss, I demand that your clients make clear publicly that Jeanie Buss is the controlling owner of the Los Angeles Lakers and that your clients shall take no action on this supposed 'vote' to sell the 17.8% stake," the letter said.The Buss family sold a majority stake in the Lakers to Walter last year for $10 billion, which was then the record for the largest sale of a US sports team.Iger and Kushner would own about 83% of the Lakers provided the deal is approved by NBA club owners, a decision expected at an NBA board of governors meeting next month in New York.

Attorney Adam Streisand, representing Jeanie Buss, said in the letter to her five siblings that she has not agreed to sell the team and any vote suggesting a sale "would be and is void" because her approval as one of three co-trustees, along with Joey and Janie Buss, is needed.

An attorney for Jeanie Buss says she will fight her siblings' plan to sell their 17.8% stake in the Los Angeles Lakers to former Disney chief executive Bob Iger's new majority ownership group, according to multiple media reports on Monday. The tale began with reports from The Athletic, ESPN, USA Today and Los Angeles outlets citing a Buss family statement after Iger and Joshua Kushner paid a record $12.5 billion for the team last week from prior majority owner Mark Walter. Also Read - ‘Probably My Last Year’: Ronaldo teases football retirement after 2026/27 season "We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction," the family statement said. "We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can." But that was not the end of the story as a lawyer for Jeanie Buss, a co-trustee in the family trust that holds the Lakers interest, wrote a letter to her siblings that was obtained by CNBC and ESPN. Attorney Adam Streisand, representing Jeanie Buss, said in the letter to her five siblings that she has not agreed to sell the team and any vote suggesting a sale "would be and is void" because her approval as one of three co-trustees, along with Joey and Janie Buss, is needed for such a move. "Co-trustees are bound to vote to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain controlling owner," the letter said. "Any attempt by the co-trustees to aid or abet the co-trustees as such, would constitute a breach of trust, breach of fiduciary duty and be in contempt of court." Jeanie Buss has been the Lakers' NBA governor since 2013, taking over after the death of her father, Jerry Buss, and ESPN reported she was the only family member not to vote for the sale. She had a deal with Walter to remain as the team governor but after the sale of the family interest, she would not have the 15% stake needed to remain in that position. "On behalf of Jeanie Buss, I demand that your clients make clear publicly that Jeanie Buss is the controlling owner of the Los Angeles Lakers and that your clients shall take no action on this supposed 'vote' to sell the 17.8% stake," the letter said. The Buss family sold a majority stake in the Lakers to Walter last year for $10 billion, which was then the record for the largest sale of a US sports team. Iger and Kushner would own about 83% of the Lakers provided the deal is approved by NBA club owners, a decision expected at an NBA board of governors meeting next month in New York.

Attorney Adam Streisand, representing Jeanie Buss, said in the letter to her five siblings that she has not agreed to sell the team and any vote suggesting a sale "would be and is void" because her approval as one of three co-trustees, along with Joey and Janie Buss, is needed.

Jeanie Buss to fight sibling over sale of NAB's LA Lakers

In a landmark deal, billionaire Mark Walter is set to become the new majority owner of the Los Angeles Lakers, a premier team in the <a href="https://www.wionews.com/tags/nba">National Basketball Association (NBA)</a>. The record-breaking $10 billion purchase marks the most expensive sale in the U.S. professional sports history and ends the Buss family's 45-year-long ownership of the iconic NBA franchise.Walter is a prominent figure in the sports investment space. He is the CEO and chairman of TWG Global, a company that holds stakes in several sports ventures. His portfolio comprises ownership in the Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), the Professional Women’s Hockey League, the Billie Jean King Cup, and the Cadillac Formula 1 team.&nbsp;Also Read | <a href="https://www.wionews.com/sports/carlos-alcaraz-to-win-wimbledon-2025-history-is-on-his-side-and-so-is-form-1750330888011">Carlos Alcaraz to win Wimbledon 2025? History is on his side and so is form</a>Despite the change in ownership, Jeanie Buss will stay on as the Lakers' governor. The Buss family has controlled the Lakers since 1979, when the late Dr. Jerry Buss purchased the team for just $67.5 million. Under their leadership, the Lakers went on to win 11 NBA championships, more than any other team since 1980.&nbsp;So why did the Buss family decide to sell the iconic team?A major reason is the franchise’s skyrocketing valuation over the years. Earlier in 2025, Forbes valued the Lakers at around $7 billion, but Walter offered $10 billion. The team earns around $400 million annually from television and streaming deals, further boosting the revenue.Family dynamics may also have influenced the decision. Since Jerry Buss died in 2013, Jeanie Buss has had internal conflicts with her siblings, particularly Jim and Johnny, over the team's control. Though she eventually took full charge, the ongoing pressure of family politics may have pushed the family to sell the majority of stakes in Lakers. &nbsp;

The record-breaking $10 billion (Rs 86.73 crore) purchase marks the most expensive sale in U.S. professional sports history and ends the Buss family's 45-year-long ownership of the iconic NBA franchise.

In a landmark deal, billionaire Mark Walter is set to become the new majority owner of the Los Angeles Lakers, a premier team in the National Basketball Association (NBA). The record-breaking $10 billion purchase marks the most expensive sale in the U.S. professional sports history and ends the Buss family's 45-year-long ownership of the iconic NBA franchise. Walter is a prominent figure in the sports investment space. He is the CEO and chairman of TWG Global, a company that holds stakes in several sports ventures. His portfolio comprises ownership in the Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), the Professional Women’s Hockey League, the Billie Jean King Cup, and the Cadillac Formula 1 team. Also Read | Carlos Alcaraz to win Wimbledon 2025? History is on his side and so is form Despite the change in ownership, Jeanie Buss will stay on as the Lakers' governor. The Buss family has controlled the Lakers since 1979, when the late Dr. Jerry Buss purchased the team for just $67.5 million. Under their leadership, the Lakers went on to win 11 NBA championships, more than any other team since 1980. So why did the Buss family decide to sell the iconic team? A major reason is the franchise’s skyrocketing valuation over the years. Earlier in 2025, Forbes valued the Lakers at around $7 billion, but Walter offered $10 billion. The team earns around $400 million annually from television and streaming deals, further boosting the revenue. Family dynamics may also have influenced the decision. Since Jerry Buss died in 2013, Jeanie Buss has had internal conflicts with her siblings, particularly Jim and Johnny, over the team's control. Though she eventually took full charge, the ongoing pressure of family politics may have pushed the family to sell the majority of stakes in Lakers.

The record-breaking $10 billion (Rs 80,000 crore approx) purchase marks the most expensive sale in U.S. professional sports history and ends the Buss family's 45-year-long ownership of the iconic NBA franchise.

Mark Walter set to purchase Los Angeles Lakers in record $10 Billion deal

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Jeanie Buss to fight sibling over sale of NAB's LA Lakers

Mark Walter set to purchase Los Angeles Lakers in record $10 Billion deal