The Lakers' offseason has already had enough plot twists to fill a full season, and they’re not done yet…
The Los Angeles Lakers sit in the middle of a $12.5 billion ownership change, but what looked like a clean handover has turned into a family dispute involving Jeanie Buss and the remaining Buss stake in the franchise.
The Lakers were essentially rented and flipped by Mark Walter
Earlier this week, Mark Walter agreed to sell his controlling interest in the Lakers to a group led by investor Josh Kushner and former Disney chief Bob Iger, valuing the team at $12.5 billion. That comes just over a year after Walter agreed to take control at a $10 billion valuation. It’s a classic business flip that left fans angry and confused.
The Buss family still owns 17.8% of the Lakers, and five of Jerry Buss' six children have voted to sell those remaining shares to the Kushner-Iger group at the same valuation.
Legendary former owner Jeanie Buss is the holdout.
Her lawyer argues that a 2017 court ruling means the shares cannot simply be sold without approval from the trust's co-trustees, Jeanie, Janie and Joey Buss. Jeanie was the only sibling who did not vote in favour of the latest sale.
The dispute matters because it could also end Jeanie's time as Lakers governor.
Her agreement with Walter let her remain the team's controlling owner through 2030, but selling the Buss family's remaining shares would leave her without the ownership percentage required to keep that role.
For Lakers fans, that makes this feel bigger than a normal ownership transaction.
Jerry Buss bought the franchise in 1979, and the family name has been tied to almost every major Lakers era since, from Magic Johnson and the Showtime teams to Kobe Bryant and, most recently, the 2020 championship with LeBron.
If the remaining stake is sold, that connection could finally be coming to an end.
Could This Affect the Lakers' Title Chances?
The timing adds another layer of uncertainty to a team already undergoing a major basketball reset.
LeBron James left the Lakers this summer after eight seasons, and Los Angeles made it clear its long-term plans would now be built around Luka Dončić. The franchise wanted greater flexibility to add younger players and complementary pieces around its new superstar.
Dončić, crucially, has publicly committed himself to that future.
“Being a Laker means everything to me, and I'm excited to get back on the court and bring a championship to LA,” he posted on X.
That gives the Lakers the most important piece of their next era, but the situation above him is becoming increasingly unsettled.
LeBron has gone, Walter is selling, new owners are preparing to arrive, and Jeanie Buss is fighting over its remaining stake.
None of that automatically weakens the Lakers on the court, but building a title contender around Dončić will require clear decisions on recruitment, spending and roster construction.
The Lakers have chosen their superstar. Now they need the stability around him to match.
