Buss Siblings Submit Court Filing to Uphold Vote for Lakers Stake Sale

Joey and Janie Buss filed a 29-page document challenging Jeanie Buss's petition to oust them as trustees following a vote to sell the family's 17.82% stake in the Lakers.

Five Buss siblings submitted a 29-page legal filing to the Los Angeles Superior Court on Friday, defending a 5-1 vote to sell the family trust's remaining 17.82% stake in the Los Angeles Lakers. The document, filed on behalf of Joey and Janie Buss, opposes a petition by acting governor Jeanie Buss that sought to remove them as co-trustees and void the sale. The siblings intend to sell their 185.59 shares to an ownership group led by Josh Kushner and Bob Iger, who reached an agreement to buy the team at a $12.5 billion valuation.

The filing argues that the trust requires only a two-thirds majority for a sale, a threshold the siblings exceeded. It further contends that a 2017 court order regarding Jeanie’s status as controlling owner became moot once the vote to terminate the trust was held. The siblings are utilizing a "tagalong" provision secured during Mark Walter's 2025 transaction, which allows them to sell at the new $12.5 billion valuation rather than a separate $10 billion "put right" option.

Attorneys for the siblings claim the sale maximizes value for all six beneficiaries and note that the trust contains no restrictions on selling stock connected to Jeanie's lifetime. While the NBA requires a controlling owner to maintain a 15% stake, the filing asserts this figure is absent from the original trust documents. Kushner and Iger are expected to take control of the franchise following an NBA board of governors vote scheduled for November.