Jeanie Buss Contests Lakers Stake Sale to Iger, Kushner

Jeanie Buss, the principal owner of the Los Angeles Lakers, is reportedly contesting a plan approved by her siblings to sell the family's remaining 18% stake in the National Basketball Association (NBA) franchise. The proposed sale would transfer this stake to investors Bob Iger, the CEO of The Walt Disney Company, and Josh Kushner, a venture capitalist and brother of former White House advisor Jared Kushner. This development signals a significant internal dispute within the Buss family, which has controlled the Lakers since 2013 following the death of patriarch Jerry Buss.

Jeanie Buss has been the public face and decision-maker for the Lakers since her father's passing, inheriting the role of governor of the team. Her opposition to the sale suggests a desire to maintain family control over the iconic sports franchise. The exact terms of the proposed sale, including the valuation of the 18% stake and the total amount of the transaction, have not been publicly disclosed. However, the Lakers are considered one of the most valuable franchises in the NBA, with Forbes most recently valuing the team at $6.29 billion in October 2023. This valuation implies that an 18% stake could be worth well over $1 billion.

The reported dispute centers on the differing visions for the future ownership and management of the Lakers. While the siblings who approved the sale may be seeking to monetize their inheritance, Jeanie Buss's stance suggests a commitment to preserving the legacy and operational control established by her father. The NBA has specific rules regarding franchise ownership and transfers, which would likely need to be navigated for any sale to be finalized. It remains unclear how this internal conflict will be resolved or if it could lead to legal challenges. The situation highlights the complexities of family-owned businesses, particularly those with significant public profiles and financial stakes.

Bob Iger, as CEO of Disney, has extensive experience in media and entertainment, and Josh Kushner, through his firm Thrive Capital, has a strong background in venture capital and technology investments. Their potential involvement in the Lakers ownership group could signal a strategic shift or an expansion of their investment portfolios into professional sports. The Lakers, a team with a rich history and a global fanbase, represent a high-profile asset. The outcome of this ownership dispute could have implications for the team's future direction and its relationship with its stakeholders.