Jeanie Buss says her late father would have backed Lakers stake sale to Mark Walter
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LOS ANGELES — Lakers governor Jeanie Buss told CNBC on Tuesday that her father, longtime franchise owner Jerry Buss, would have endorsed the family’s 2025 decision to sell nearly half of its majority stake to billionaire Mark Walter.
“What was important to him was that the Lakers stay at the top of the NBA, and to do that you need resources,” Buss said during the interview that aired Feb. 17, 2026. “He would want that for the Lakers, because the Lakers are his legacy.”
The Buss family trust had held 66% of the team, split equally among siblings Jeanie, Johnny, Jim, Janie, Joey and Jesse. Last June, the six agreed to sell almost 50% of their stake to Walter, valuing the club at $10 billion. The transaction closed in late October 2025, leaving the family with about 17%—just above the 15% league minimum that allows Jeanie to remain governor—and netting each sibling roughly $500 million after taxes.
Following the sale, five siblings were dismissed from their roles with the franchise, leaving Jeanie as the lone family member on the payroll under a new five-year contract. A team official previously told ESPN, “She fired everyone.”
Janie Buss later described the outcome to ESPN as “disappointing” and said she believed their father “wouldn’t be happy with the way things just went down.” Jeanie defended the move on CNBC, stating, “My siblings were involved in the decision. It’s about the Lakers, the greatness, what the fans expect. This was the best decision for all six of us.”
Buss added that she intends to serve the full five years of her agreement with Walter. “I’m not going anywhere,” she said.
Looking ahead, Buss said the new partnership gives Los Angeles “stability” as the roster shifts from being built around LeBron James to focusing on Luka Dončić. She called the 26-year-old All-Star “a young player the fans love to see.”
James is in the final season of his contract, and Buss left open the possibility of a return. “Never say never,” she said. “He’s earned the right to decide how his career will go.”
Source: ESPN
