Buss Siblings Seek Dismissal of Lakers Trust Petition
Janie and Joey Buss ask the court to dismiss a petition aimed at blocking the sale of remaining team shares.
Updated on Oct. 16, 2026 in Basketball
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Janie and Joey Buss have filed a legal response seeking the dismissal of a petition from Jeanie Buss intended to block the sale of Lakers shares. Five of the six siblings voted in August to terminate the family trust to sell the remaining stake.
Why it matters
The filing argues that the trustees were required to implement the vote to terminate the trust. The siblings intend to utilize a tag-along provision to maximize value for all six beneficiaries of the trust.
The Buss Family Trust currently holds a 17.82% stake in the Lakers, a portion now valued at approximately $2.2 billion following the team's $12.5 billion valuation in 2026. This is a significant increase from the original $67.5 million purchase price paid for the Lakers, the Forum, and the Kings in 1979.
The players
Jeanie Buss
She has served as the controlling governor of the Los Angeles Lakers since 2013.
Janie Buss
She is one of the six Buss siblings and a participant in the recent legal filing.
Joey Buss
He is one of the six Buss siblings involved in the request to dismiss the petition.
Jerry Buss
The late businessman was the primary owner who purchased the Lakers franchise in 1979.
Mark Walter
He is the lead investor who purchased controlling ownership of the Lakers in 2025.
The details
The dispute centers on a vote cast by five of the six Buss siblings to dissolve the family trust, triggering a termination clause. The current filing directly challenges Jeanie Buss's attempt to stop the divestiture of the remaining trust assets.
Timeline
1979: Jerry Buss purchased the Lakers.
2013: Jeanie Buss became controlling governor.
August 2026: Five siblings voted to terminate the family trust.
October 16, 2026: Janie and Joey Buss filed a court response.
December 8, 2026: Court hearing scheduled regarding the petition.
Season Trajectory
This legal challenge represents a shift in the long-term franchise ownership structure following the 2025 purchase of the Lakers by Mark Walter. The outcome of the trust termination will determine the final distribution of equity among the Buss heirs.
The potential sale of the remaining 17.82% stake in the team will finalize the liquidation of the trust's primary asset. This legal process determines if the remaining beneficiaries receive proceeds from the sale according to the siblings' vote.
The takeaway
The court's decision in December will likely resolve whether the trust remains intact or if the sale proceeds are distributed to the heirs. Beneficiaries and observers should monitor the hearing to understand the ultimate financial distribution of the legacy assets.
Further reading
For additional context on team operations and ownership, visit the Los Angeles Basketball section.
Source note: This article includes information reported by Los Angeles Times.
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