As the Los Angeles Lakers change hands yet again, internal drama is brewing behind the scenes that threatens to disrupt the delicate transition. With billionaire Mark Walter on his way out, it raises questions about what will happen to the previous owners, specifically former Lakers governor Jeanie Buss.
Even with an agreement to keep running the team through 2030, Buss may be forced out as part of a tag-along provision from the original sale. Buss herself voted against selling her family’s shares, but all of her five siblings voted in favor of a cashout. Today, they issued a formal statement directly to the fans, seemingly saying goodbye after nearly 50 years.
“The Los Angeles Lakers have never been just a basketball team,” the statement read, per Shams Charania. “They have been one of the greatest privileges of our lives. Our focus has always been on what we believe is best for the Lakers, the fans who have supported this franchise for generations, and the greater Los Angeles community.”
The Buss family has been tied to the Lakers since 1979, when Dr. Jerry Buss bought the team from Jack Cooke. Under his leadership, they enjoyed their most prosperous eras in franchise history, including the legendary ‘Showtime Lakers’ and the iconic Kobe–Shaq dynasty. But ever since Dr. Buss’ passing in 2013, his children have been at odds over control of the team.
Jeanie even fought a vicious battle in court against her siblings, where they ruled that she had the final say on any decision related to the family’s ownership stake. She would later go on to fire them, severing ties completely. Nevertheless, this latest change has opened the door for them to sell their remaining shares, and they intend to move forward with or without Jeanie’s approval.
“Johnny, Jimmy, Janie, Joey, and Jesse have made the decision to sell the family’s remaining stake, and we remain united in that decision. We intend to move forward thoughtfully, respectfully, and through the appropriate process. We have tremendous respect for Bob Iger and Josh Kushner and believe they understand what the Lakers represent to Los Angeles and our incredibly loyal fan base. We are confident they will honor everything this franchise stands for while building upon the foundation our father created.”
Jeanie never wanted to sell in the first place, but she felt confident in Walter’s vision for the future. At the time, nobody could foresee that his legal situation would take such a drastic turn for the worse. That’s why his sudden sale of the Lakers was an embarrassment for the Buss family, who took it as the final straw in their involvement with the team.
“Jeanie told [her siblings] this sale to [Walter] was in the best interest of the long term, but it ended up being an embarrassing one, and it was time to move on cleanly,” Charania reported.
Ultimately, despite Jeanie’s best efforts, she’s losing her grip on the Lakers, and there’s no going back now. While she reportedly intends to fight for her family’s shares, there may be nothing she can do to stop the process now. In many ways, it’s the end of an era for both the Buss family and the Lakers franchise.
As for the incoming owners, Bob Iger and Josh Kushner, this is hardly the way they wanted to start their run. With expectations already so high, the Lakers cannot afford any distractions, and this Buss family drama is a bad look for everyone. That’s why, in their ideal scenario, they would just buy out the family’s shares and be done with the entire ordeal.
