LOS ANGELES — The Buss family's nearly five-decade association with the Los Angeles Lakers is moving closer to an end, but not without another family fight over control of one of the most valuable franchises in professional sports.
Five of Jerry Buss' six children issued a statement Tuesday reiterating their intention to sell the family's remaining 17.8% ownership stake in the Lakers, presenting a united front one day after Jeanie Buss moved to challenge the decision.
Johnny, Jim, Janie, Joey and Jesse Buss said they remain committed to selling the family's shares as part of the pending $12.5 billion transaction that would transfer control of the Lakers from Mark Walter to Josh Kushner and Bob Iger. Jeanie Buss, the team's governor and controlling owner, was the only sibling who did not support the decision.
"The Los Angeles Lakers have never been just a basketball team. They have been one of the greatest privileges of our lives," the Buss family said in a statement provided to ESPN. "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 statement made clear that five of the six siblings have no intention of backing away from the proposed sale despite Jeanie Buss' legal challenge.
"Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family's remaining stake, and we remain united in that decision," the statement said. "We intend to move forward thoughtfully, respectfully and through the appropriate process."
The public split is the latest chapter in a long-running series of Buss family disputes over the Lakers since Jerry Buss died in 2013. Jeanie Buss has served as the franchise's controlling owner and governor, while disagreements with her siblings over the direction and management of the organization have periodically spilled into public view.
The latest disagreement carries significantly higher stakes.
Last year, the Buss family agreed to sell its controlling interest in the Lakers to Walter in a transaction valuing the franchise at $10 billion, which at the time was a record valuation for a U.S. professional sports franchise. The NBA Board of Governors approved Walter's purchase in October.
Now, less than a year after taking control, Walter has agreed to sell the Lakers to Kushner and Iger in a transaction valuing the franchise at approximately $12.5 billion. The deal, which remains subject to due diligence and NBA approval, would establish another record valuation for a professional sports franchise.
The Buss family is seeking to use a tag-along provision from its original transaction with Walter to include its remaining 17.8% stake in the new sale. According to ESPN, all of the Buss siblings except Jeanie voted Monday to exercise that provision.
Jeanie Buss, however, is challenging whether her siblings have the legal authority to do so without her approval.
Her attorney, Adam Streisand, pointed to a 2017 court ruling stemming from a previous Buss family power struggle and argued that a sale cannot be completed without approval from the three co-trustees: Jeanie, Janie and Joey Buss. In a letter to the family, Streisand demanded that the siblings acknowledge publicly that Jeanie remains the Lakers' controlling owner and refrain from taking action based on what he characterized as an invalid vote.
That creates an unusual divide within the trust. Janie and Joey are two of the three co-trustees cited by Jeanie's legal team, but both are also among the five siblings publicly supporting the sale.
The outcome could determine not only whether the Buss family completely ends its ownership of the Lakers but whether Jeanie's tenure running the franchise comes to an earlier-than-expected conclusion.
Under the previous arrangement with Walter, Jeanie was expected to remain the Lakers' governor through 2030. If the family's remaining shares are sold, however, she would no longer have the ownership stake required to continue in that role. The Associated Press reported that the Lakers' governor must hold at least a 15% ownership interest.
Kushner and Iger are expected to acquire approximately 65% of the Lakers from Walter. If the Buss family's 17.8% stake is included, their ownership group would control roughly 83% of the franchise.
The five Buss siblings supporting the transaction also offered an endorsement of the prospective new owners.
"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," the family said. "We are confident they will honor everything this franchise stands for while building upon the foundation our father created."
Kushner, the founder of Thrive Capital, and Iger, the longtime Disney executive, had previously explored pursuing a potential NBA expansion franchise in Las Vegas before pivoting toward the Lakers. Their $12.5 billion agreement with Walter came together just months after he officially became the Lakers' majority owner.
The Buss family's connection to the Lakers dates to 1979, when Jerry Buss purchased the franchise and transformed it into one of the most recognizable brands in sports. The Lakers won 10 NBA championships during his lifetime, and Jeanie Buss became the first female controlling owner to lead a team to an NBA championship when the Lakers won the title in 2020.
Now the family's ownership era could be approaching its final chapter.
Five of the six Buss siblings say they are ready to turn the page. Jeanie Buss is making clear she isn't ready to let them do it without a fight.