Filing Details Jeanie Buss’s Side Deal to Remain Lakers Governor

When Mark Walter acquired a controlling stake in the Lakers last year, an intriguing detail emerged: Jeanie Buss would continue her role as team governor, overseeing day-to-day operations. The Buss siblings' filing, made in response to Jeanie's petition, clarified the arrangement. Under the October 30, 2025 agreement, Walter committed to fulfilling all actions "reasonably required or requested by Jeanie" to maintain her directorship and controlling ownership for five years.

This was contingent on her or her affiliated entities retaining a minimum 15% stake in the Lakers, the NBA's threshold for team governor status. After five years, Buss would retain the right to serve as alternate governor as long as she or her affiliated entities held at least 5% of the team. The terms were more detailed in the filing than initially reported when Walter's acquisition was announced.

The Buss siblings wanted to sell their 17.8% stake, held in a family trust, and the filing stated Walter must notify them of their right to participate in any sale before proceeding. Jeanie Buss contested their plan, citing a 2017 court order requiring her family to take actions to keep her as governor, including not reducing their stake below 15%.