Jeanie Buss is reportedly willing to explore buying enough Los Angeles Lakers shares to remain the franchise’s owner as the ownership battle involving her family deepens.
According to Sam Amick and Dan Woike of The Athletic, Buss would be open to finding a way to retain at least 15% ownership of the Lakers, even if the Buss family proceeds with selling its shares.
“Could there be a way for the rest of the siblings to sell and Jeanie to remain as governor? That would require her finding a way to still own at least 15 percent of the shares, but it is possible. Per a league source, Jeanie would be open to exploring that scenario.”
The possibility offers another interesting development in what has become a very complicated ownership situation for the NBA’s most famous franchise.
Mark Walter recently agreed to sell his majority interest in the Lakers to a group led by Bob Iger and Josh Kushner at a reported $12.5 billion valuation. Soon after that, it was reported that the Buss family had voted to sell its remaining 17.8% stake to the incoming ownership group.
Reportedly, Jeanie Buss was the only sibling who opposed this particular sale.
Her Attorney Adam Streisand, has since challenged the validity of the proposed transaction, arguing that the family trust and a previous court order would require the trustees to take actions that ensure Jeanie Buss remains the Lakers’ controlling owner.
And now, purchasing additional shares could potentially provide another path for Jeanie to maintain her position.
Under NBA guidelines, a controlling owner or governor must have at least a 15% interest in the franchise. The Buss family owns 17.8%, meaning that Jeanie would need to secure almost all of that stake if the ownership requirement applies in its current form.
And at a $12.5 billion valuation, 15% would theoretically represent $1.875 billion worth of equity. That makes any potential transaction a massive financial undertaking, and it raises questions about how Jeanie could structure such a purchase.
There is also a question of whether Iger and Kushner would support such an arrangement that would keep Jeanie Buss in control.
When Walter purchased the Lakers, he reportedly had an agreement that allowed Jeanie to remain governor for at least five years. Her position was initially expected to remain secure following another ownership change, but the proposed sale of the Buss family’s remaining shares has complicated those plans.
For Jeanie, remaining governor would preserve a connection to the organization that her father, Jerry Buss, transformed into one of sports’ most famous franchises.
Jerry Buss purchased the Lakers in 1979, and the franchise won 11 championships across eras under the family’s ownership. Jeanie eventually took over as governor when the Lakers captured the 2020 championship.
That history helps explain why she is not ready to simply walk away. Her siblings are prepared to cash out, but Jeanie’s reported willingness to purchase shares shows how she is exploring every possible avenue to maintain her position.
For now, nothing has been finalized. But between the legal challenge and the possibility of acquiring additional equity for herself, Jeanie is making one thing clear.
She is not ready to give up control of the Lakers without a fight.
