Jeanie Buss has reportedly reached an agreement with Mark Walter that would allow her to continue as the Lakers' alternate governor beyond the initial five-year term, contingent on her maintaining at least a five-percent ownership stake in the team. This arrangement is complicated by a legal dispute with her five siblings, who have filed a case against her regarding the sale of the family's remaining shares in the franchise.
Buss has challenged the legality of her siblings' vote to sell the family's 17.82% ownership stake, while they argue that her refusal to sell her shares is "legally and factually baseless." The family’s shares are expected to be sold after an NBA board of governors vote in November, potentially generating $2.2 billion through a tag-along provision involving buyers Josh Kushner and Bob Iger. A court hearing originally set for November 5 has been postponed to December 8.
The core issue is that while Buss's reported governance agreement provides a pathway for her to remain in her role, it hinges on her retaining sufficient ownership. If the shares are sold and she no longer meets the ownership requirement, her position as governor could be jeopardized, creating significant uncertainty around the Lakers' ownership structure.