Jeanie Buss, the governor of the Los Angeles Lakers, recently discussed her decision to sell the family's majority stake in the team to billionaire Mark Walter in 2025. In a CNBC interview, she revealed that her late father, Jerry Buss, would have supported this move, emphasizing his desire for the Lakers to maintain their dominance in the NBA. Jeanie explained that resources and unity are crucial for staying at the top, and Jerry's legacy would be best served by ensuring the team's continued success.
The Buss family's 66% ownership was divided equally among Jeanie, Johnny, Jim, Janie, Joey, and Jesse, all of whom held roles within the franchise. Last June, the siblings agreed to sell almost 50% of their stake to Walter for $10 billion. The sale was completed in late October 2025, with each sibling receiving approximately half a billion dollars after taxes. Despite the sale, Jeanie retained her role as governor, signing a five-year contract and remaining the driving force behind the transition.
However, the sale and subsequent changes have caused some family tension. Janie Buss, one of the siblings, expressed disappointment and felt disrespected after being terminated from her role. She believes her father would be unhappy with how the situation unfolded. Jeanie, in her interview, acknowledged the differing opinions within the family but maintained that the decision was made with the team's best interests in mind.
The Lakers are now transitioning from a LeBron James-led team to one centered around Luka Doncic. Jeanie expressed pride in Doncic's acquisition and the stability it brings to the team's future. She also left the door open for James' potential return, stating that it's not impossible but not guaranteed. The Lakers' strategy and player acquisitions are key to their continued success and dominance in the NBA.
