In a letter obtained by USA TODAY Sports and first reported by CNBC, Buss' attorney Adam F. Streisand refuted an earlier report from ESPN that all six siblings – Jim, Johnny, Janie, Jeanie, Joey and Jesse – had voted to sell their 17.8% ownership stake and that Jeanie was effectively out as team governor. He asserted that any such vote "would be and is void ab initio," or completely null and void from the moment it was made.
Streisand maintained that Jeanie Buss remains the controlling owner of the Buss family's stakes, citing a 2017 court order – also obtained by USA TODAY Sports – that established the co-trustees of the JAB Trust must "take all actions reasonably available to them" to ensure Jeanie Buss is elected controlling owner every year for the remainer of her lifetime. Selling their shares below the required 15% for Jeanie Buss to serve as the face of ownership would, Streisand says in the letter, violate the order.
"The Order remains in full force and effect," the letter reads. "There has never been a modification of the Trust. No effort has ever been made to justify to the Court that there are circumstances for modifying the Trust, and there are no circumstances that could be proven to justify any modification.
"... On behalf of Jeanie Buss, I demand that your clients make clear publicly that Jeanie Buss is the Controlling Owner of the Los Angeles Lakers and that your clients shall take no action on this supposed “vote” to sell the 17.8% stake."
The news of the Buss siblings' intention to sell comes just five days after Kusher and Iger agreed to purchase the Lakers from majority owner Mark Walter for a record $12.5 billion. That also came less than a calendar year after Walter bought the team for $10 billion, putting an end to the Buss' 47 years of majority ownership. If the tag-along sale from the family were to go through, Kusher and Iger would assume an estimated 83% total stake.
LOS ANGELES, CALIFORNIA - FEBRUARY 22: Los Angeles Lakers' Governor Jeanie Buss during the Los Angeles Lakers unveiling former head coach Pat Riley statue at Crypto.com Arena on February 22, 2026 in Los Angeles, California. (Photo by Luiza Moraes/Getty Images) | Getty Images
Jeanie Buss is not going quietly into that good night.
While Shams Charania of ESPN reported on Monday that the Buss family would be selling its remaining 17.8% stake in the Lakers, it doesn’t appear that was a unanimous decision.
“No sale of the JAB Trust’s 17.8% ownership interest in the Los Angeles Lakers, Inc. can be effectuated without approval by the current co-trustees, i.e., Jeanie, Janie and Joey Buss. Pursuant to the JAB Trust and the attached Court Order, the co-trustees are bound to vote the Los Angeles Lakers, Inc. shares to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain Controlling Owner,” Streisand says in the letter.
“Any attempt by the co-trustees to do otherwise, and any attempt to aid or abet the co-trustees as such, would constitute a breach of trust, breach of fiduciary duty and be in contempt of court,” he says.
Sam Amick of The Athletic also received a letter from Streisand with the same argument made.
In a letter obtained by @TheAthletic, the attorney for Lakers governor Jeanie Buss says the trust vote to sell is void, arguing legal standing that requires her to be controlling owner on a lifetime basis. Her lawyer is demanding that representatives of the trust make it clear…
I won’t pretend to be a lawyer or know the ins and outs of the legalities of this situation. It’s not a surprise Jeanie isn’t going down without a fight, even if it’s also going to make this particularly messy.
Her stance appears to be built around the fact that she’s a co-trustee of the family trust and wants to remain the governor of the franchise. As an outsider looking in, it looks like sour grapes and her fighting to the very end, but, again, we don’t know much as outsiders.
What isn’t up for debate is how apropo this is for Jeanie and the family. For over a decade, the family has been constant drama. This is a fitting way for it all to come to an end…if this is the end.
Mark Walter’s legacy with the Los Angeles Lakers was short-lived, but was quietly a roller coaster of a ride.
Details continue to emerge about his roughly yearlong tenure at the helm of the franchise, a period filled with behind-the-scenes upheaval that contributed to a“weird vibe” throughout last season, as one source described it in a new report by The Athletic.
Former Los Angeles Lakers owner Mark Walter. Getty Images
Walter’s brief Lakers ownership began with expectations of him elevating the franchise into one of the NBA’s finest, as he did for the Los Angeles Dodgers after he purchased them in 2012.
Instead, his legacy with the team was focused on him changing the way the team operated behind the scenes.
Los Angeles Lakers’ Luka Doncic during an NBA game against the Brooklyn Nets. Corey Sipkin for NY Post
According to The Athletic, the organization had multiple rounds of layoffs last season while there was a significant increase in season ticket prices — some by more than 40 percent.
Lakers basketball executives reportedly were frustrated last season after the team made the abrupt decision to relocate its G League team from El Segundo to the Coachella Valley as they believed they were being “distanced from their developmental players and coaches.”
Just a month before Walter sold the team, the Lakers organization had another major shift as LeBron James announced his departure after eight seasons, and would later sign with the Philadelphia 76ers.
On Monday, the Lakers organization had one last seismic change: The Buss family, which spent most of the past 47 years as the majority owners of the team, sold the remainder of their shares to Iger and Kushner, and Jeanie Buss will no longer serve as the team’s governor.
The Buss family trust, which includes six of Jerry Buss’ children — Jeanie (64), Johnny (69), Jim (66), Janie (62), Joey (41) and Jesse (37) — needed a majority vote (four out of six) to allow the trustees to sell their shares.
Now, the trustees will execute the sale.
Jeanie Buss — CEO, Governor and co-owner of the Los Angeles Lakers — holds a new Lakers jersey during the 2021–22 season. Los Angeles Times via Getty Images
ESPN reported Jeanie didn’t vote to sell the family’s ownership stake in the Lakers, while the other five siblings in the trust did.
So, what does the Buss family’s decision mean for Jeanie?
Once the sale is official, she will no longer be able to be the Lakers Governor. She’s been the franchise’s Governor after her father died in February 2013.
The NBA requires that all Governors have an ownership stake of at least 15% of the franchise to be in the role.
Jeanie Buss and her brother, Jim Buss. Getty ImagesLakers superstar Luka Dončić chats with Jeanie Buss. IMAGN IMAGES via Reuters Connect
The Buss family’s remaining shares in the Lakers was close to 18% of the franchise.
An NBA franchise’s Governor is the official representative and voting member on the league’s Board of Governors.
“We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise,” Iger told The Post. “And we have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she represents in the organization.”
Looks like things changed.
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Aug 4, 2024; Cleveland Browns defensive end Za'Darius Smith (99) points during practice at the Browns training facility in Berea, Ohio. Mandatory Credit: Bob Donnan-USA TODAY Sports | USA TODAY Sports via Reuters Con
Uh, oh. Here we go again, perhaps.
Sunday afternoon, we covered a report that former Cleveland Browns DE Za’Darius Smith was expected to rejoin the team after a visit to Berea. Smith seemed a bit confused by that report, as he commented on social media that he had another workout lined up with another team before deleting that comment.
DE Jared Verse talked on Monday about the potential addition of Smith and getting to pick the veteran’s brain.
Could things be repeating themselves, this time with a bit of Kevin Stefanski revenge added to it?
Potential twist: Veteran pass rusher Za’Darius Smith, who has been expected to sign with the #Browns, worked out for the #Falcons.
Atlanta has lost both James Pearce Jr. (8-game suspension) and Jalon Walker (torn ACL). Smith played for Kevin Stefanski in Cleveland. pic.twitter.com/bhO6q47MXr
Stefanski was fired in Cleveland following the 2025 season and quickly hired as the Atlanta Falcons head coach during the cycle that brought Todd Monken in to coach the Browns. According to Mary Kay Cabot, who had the initial report that Smith would sign back in Ohio, the team thought they had a deal done:
Za'Darius Smith, who was expected to sign with the #Browns, tried out for the #Falcons and his former Cleveland coach Kevin Stefanski today: —> https://t.co/cwdPCUp8pP
As noted, Smith could help fill a big need for the Falcons and rejoin Stefanski instead of rejoining Cleveland, where he played for Stefanski for almost two years before being traded.
In his 11 years in the NFL, Smith compiled 343 tackles, 176 QB hits, 87 tackles for loss, and 70.5 sacks.
Do you want Smith to return to the Browns? Would his joining Stefanski instead of Cleveland bother you even more than Clowney choosing the Texans?
The Buss family has agreed to sell its remaining 17.8% of the Lakers to the team's incoming owners, Josh Kushner and Bob Iger, a story broken by ESPN’s Shams Charania and since confirmed by multiple sources.
When the Buss family first sold its majority stake to Mark Walter last year, the family retained that 17.8%, enough for Jeanie Buss to remain on as Governor for the next five years, something written into the sales agreement. Now, without the ownership stake required by the league, Buss will no longer serve that role. Most likely, Iger will fill that role, he has been the face of the new ownership, although it could be Kushner.
There are six Buss family members in the trust — Jeanie Buss, Jim Buss, Johnny Buss, Janie Buss, Joey Buss, and Jesse Buss (all children of the late owner Jerry Buss) — and four of them had to vote to ask for this. The other five Buss family members approached Jeanie, asking to sell the remaining stake, reports Yaron Weitzman (who wrote a book on the Lakers). The family released this statement to ESPN.
"We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction. We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can."
This is the real end of an era. Jerry Buss bought the Lakers — along with the Fabulous Forum, where the team played through the Showtime era, as well as the Los Angeles Kings of the NHL — in 1979. Jerry Buss was an innovative owner who realized long before others that the league was selling an entertainment product. That led to innovations like a dance team, the Laker Girls, as well as in-arena music during the games and breaks, and much more.
As everything around the league changed and evolved, the Buss family ownership of the Lakers did not — and the team thrived under their ownership. The team won 11 championships under 46 years of Buss ownership, appeared in many more NBA Finals, and evolved into an iconic brand, the biggest one in the sport.
They did that because of all the stars who came through under their watch: Magic Johnson, Kareem Abdul-Jabbar, James Worthy, Shaquille O'Neal, Kobe Bryant, up through LeBron James.
After all that stability, the Lakers have now been sold twice in 14 months. First to Mark Walter, who also owns the Los Angeles Dodgers. However, as Walter is staring down a federal and SEC investigation into potential fraud tied to insurance companies in his holdings — as well as the sports teams he owns and their valuations — he reportedly needed to pay down debt. Selling the Lakers may have been how he got that cash.
One thing to watch out for: Lakers general manager Rob Pelinka recently got a contract extension and isn't going anywhere soon, but Jeanie Buss was his friend and protector within the organization. With her gone, his safety net is gone.
EL SEGUNDO, CA - AUGUST 10: Jim Buss and his sister Jeanie Buss of the Los Angeles Lakers attend a news conference where Dwight Howard was introduced as the newest member of the team at the Toyota Sports Center on August 10, 2012 in El Segundo, California. The Lakers acquired Howard from Orlando Magic in a four-team trade. In addition Lakers will receive Chris Duhon and Earl Clark from the Magic. (Photo by Kevork Djansezian/Getty Images) | Getty Images
It turns out burning bridges with all of your siblings might come back to haunt you.
On Monday, the Buss Family Trust agreed to sell its remaining nearly 18% of the Lakers to Bob Iger and Josh Kushner, a surprising final twist in the family’s ownership of the team. Whatever Hollywood-esque storyline you can come up with about how this played out probably won’t live up to the finale that played out.
According to reporting from Dave McMenamin of ESPN, an emergency meeting of the siblings was called last week where Jeanie tried one last power play.
The meeting was held Tuesday. During the meeting, there was no mention of a pending sale between Mark Walter and Bob Iger/Josh Kushner, sources told ESPN. The next day, Walter’s agreement to sell the team was reported by ESPN’s @ramonashelburnehttps://t.co/xuJJD7HPSs
However, Jeanie’s fraught history with her siblings came back to bite her as there was a reason for the emergency meeting. As it turns out, the family executed the tag-along clause, which allows minority owners to join the sale if a majority owner sells.
The other Buss siblings took the chance to cash in on the sale and, in the process, oust Jeanie as governor.
Follow-up reporting: The tag-along clause was executed after the other five siblings sent Jeanie signatures stating that they wanted the family to sell its shares, according to a source. https://t.co/OD06hOjVah
What an incredible bit of drama. I’d say to bring back “Winning Time” so that we could eventually see this play out on screen, but this feels like something straight out of “Succession” anyway.
Truly, it couldn’t be scripted any better.
Jeanie thought she had the final say by siding with Mark Walter on the sale, securing her spot as team governor and firing the last members of her family from the team over the last year. As it turns out, the dominoes had already started falling, as Walter had his own issues with the federal government that may have prompted the sale, leading us to this point.
Imagine the siblings’ realization when it dawned on them that they could not only pocket another couple hundred million dollars but also force Jeanie out in the process.
It’s a show that’d win all the awards in Hollywood.
PHILADELPHIA, PENNSYLVANIA - MAY 08: Joel Embiid #21 of the Philadelphia 76ers drives past Karl-Anthony Towns #32 of the New York Knicks during Game Three of the Second Round of the NBA Eastern Conference Playoffs at Xfinity Mobile Arena on May 08, 2026 in Philadelphia, Pennsylvania. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Emilee Chinn/Getty Images) | Getty Images
For many fans in Philadelphia (maybe all of them), I’m not sure the 2026-27 Sixers will feel like a real team until we see them play a game. Adding Jaylen Brown and none other than LeBron James in one offseason was a truly breathtaking turn of events for this team, and it’s not too long now until we see the Sixers take to the court.
The team has now revealed their preseason schedule, starting at home on Oct. 5 against the Knicks.
A rematch, albeit a preseason one, against the Knicks seems like a fitting way for the Sixers to return following their second-round defeat against New York. From there, a matchup against the Nets is the least interesting game of the bunch, closed out by two contests against the Celtics. If we see Brown take to the court for the first time against his old team, that alone is a good enough storyline to make things more intriguing than a normal preseason game.
The main thing to wonder in the meantime ahead of October is how much we see of the team’s new starting five. Will Joel Embiid play at all, or just take some extra rest? Similarly, does LeBron play or save his Sixers debut for the regular season? Even if we don’t see much of them, there are obviously still other storylines to look forward to, like Brown’s likely debut, or a first look at V.J. Edgecombe as he enters his sophomore season with a full summer of work under his belt.
If the big stars do take to the court, it’s unlikely to be for long. No matter how brief their time together is in preseason, though, it’s still extra reps to start gelling as a group. The absurd talent and potential of this new team still feels surreal, but it will understandably take time for them to maximize how to play off one another, get used to how they’ll share usage, orchestrate new actions, and how Nick Nurse optimizes stagger patterns of his stars.
Jeanie Buss watches Game 5 of the Lakers' first-round NBA playoff series against the Houston Rockets from the sideline at Crypto.com Arena. (Robert Gauthier / Los Angeles Times)
The end of an era.
The Buss Family Trust is selling its 17.8% stake of the Lakers, according to media reports Monday, giving its final shares of the team to new majority owners Joshua Kushner and Bob Iger, who bought the controlling ownership stake from Mark Walter last week for a record valuation of $12.5 billion. The sale ends a 47-year reign for the Buss family, which turned the Lakers into one of the most recognizable teams in the world.
“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction,” the Buss family said in a statement to ESPN, which first reported the news. “We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”
The transactions still need to be approved by the NBA board of governors. Jeanie Buss, who remained the Lakers governor even after Walter’s purchase of the team was approved last October, would no longer be eligible to serve on the board, which requires minority owners to have at least a 15% stake.
The Buss family has owned the team since 1979, when Jerry Buss bought the franchise for $67.5 million. The family patriarch leveraged Hollywood glamour with entertainment spectacle to elevate the team into an internationally recognized brand. When Buss died in 2013, the team was passed to a trust for his six children: Jeanie, Jim, Johnny, Janie, Joey and Jesse.
Despite being one of the most recognizable franchises in the world, the Lakers remained a family-run business. Soon, the booming sports business caught up. The team started falling behind in resources and revenue compared to other organizations that controlled their own arenas and media deals. The Buss family voted to relinquish a majority ownership of the team in 2025, bringing in Walter, who also owns the Dodgers.
Jeanie was to remain the governor of the team for five years under Walter, but the investment mogul who is under federal investigation for unpaid loans shockingly sold his stake in the Lakers last week to Kushner and Iger. Kushner, a co-founder of a venture capital firm Thrive Capital and the permanent holdings company Thrive Eternal, will have to divest a minority stake in the Miami Heat before the Lakers purchase can be approved. Iger is the longtime Disney chief executive who already owns Angel City FC and previously flirted with NFL ownership by trying to build an NFL stadium in Carson before the project ultimately went to Stan Kroenke-led SoFi Stadium in Inglewood.
When the duo agreed to buy Walter’s share last week, Kushner and Iger released a statement that in part praised the Buss family’s work with the Lakers.
“We have immense respect for the leadership and vision of Jerry and Jeanie Buss,” the statement read. “Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”
Jordyn Woods and Karl-Anthony Towns tie the knot during a wedding ceremony on August 15, 2026, in Malibu, California.
It’s not easy winning a NBA championship and getting married in the same offseason.
The Knicks’ championship run in June didn’t give Karl-Anthony Towns and Jordyn Woods much time to plan their nuptials, which took place on Aug. 15 in Malibu — and Woods took over planning Towns’ wedding look, the model shared in an interview published Monday with Vogue.
“So Karl is in this thing called the NBA Finals so he didn’t have time to design his looks. He knew he wanted a Ralph Lauren suit, [and] I took it from there,” said Woods, who wore three custom wedding looks by Danielle Frankel.
” I actually got a swatch of the [Italian] silk from Danielle’s team, dropped it off to Ralph, and I said, ‘Can you please match his suit jacket to this?'”
Towns looked dapper in his black Ralph Lauren tuxedo.
Jordyn Woods and Karl-Anthony Towns tie the knot during a wedding ceremony on August 15, 2026, in Malibu, California. CPR / Dsanchez / BACKGRID
The couple, who met through mutual friends in Los Angeles in 2017, began dating in 2020 during the COVID-19 pandemic, and Towns popped the question on Christmas Eve in 2025.
“Karl said, ‘I want to get married this summer,’” Woods recalled. “With his job, he only has summer to get married, so I knew, ‘OK, this summer means I have such a short window.’”
New York Knicks center Karl-Anthony Towns celebrates with teammates after defeating the San Antonio Spurs to win the NBA Championship at the Frost Bank Center in San Antonio, Texas, on Saturday, June 13, 2026. Charles Wenzelberg / New York Post
The entrepreneur added that “everybody” told her she wouldn’t get a wedding dress in six months.
“I made four showroom appointments,” she said. “Danielle [Frankel] was the first showroom that I went to. There’s something about that Italian silk that she used that just complemented my skin tone so perfectly.”
Woods’ wedding ceremony dress featured a strapless top with ruching throughout and a handmade ivory-colored veil.
Jordyn Woods shares details of her three wedding looks, designed by Danielle Frankel, with Vogue. Su Mustecaplioglu/@sumustecaplioglu
Her second look was a lace gown with a lifted hem and lace sleeves.
Her final look, for the pair’s welcome dinner, was a silk satin slip dress with an asymmetric scarf drape knotted at the strap, falling across the shoulders into a shawl train at the back.
Jordyn Woods is pictured during her wedding ceremony to Karl-Anthony Towns on August 15, 2026, in Malibu, California. CPR / Dsanchez / BACKGRID
The star-studded guest list included Kylie Jenner, Timothée Chalamet, Justin Bieber, Hailey Bieber, Jada Pinkett-Smith, Teyana Taylor, Gayle King, Michael B. Jordan, Ben Stiller and Christine Taylor.
Several of Towns’ Knicks teammates were in attendance, including NBA Finals MVP Jalen Brunson, power forward OG Anunoby and guard Josh Hart.
The Knicks won four of five against the Spurs in the 2026 NBA Finals to clinch their first championship in 53 years.
They celebrated with a parade in New York City on June 18 and made the rounds in media.
Towns and Woods made a joint appearance at Fanatics Fest in July.
“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction,” the Buss family said Monday in a statement. “We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”
The Busses had retained a minority position after the June 2025 sale to Walter. According to ESPN, the six children of late Lakers owner Dr. Jerry Buss held a vote as part of the Buss family trust to consider the sale of the remaining shares to Kushner and Iger’s group. The deal required four of six votes.
Monday’s decision now ends the family’s memorable 47-year run with the franchise.
Jerry Buss bought the Lakers in May 1979 for $67.5 million, in a deal that also included the NHL’s Los Angeles Kings and the arena where both franchises played, the Great Western Forum in Inglewood, California.
Under the Buss family’s direction, the Lakers ushered in the “Showtime” era and oversaw a stretch of consistent competitiveness. The Lakers won 11 championships during the family’s reign as majority owners.
Under the Busses, the Lakers recorded just 10 seasons with a win percentage below .500 and missed the playoffs only nine times. In fact, Los Angeles clinched postseason berths in the first 14 years of Buss's ownership of the team. A number of franchise icons and eventual Hall of Fame players — names like Magic Johnson, Shaquille O'Neal and Kobe Bryant — starred with the Lakers under the Buss family.
With Monday’s decision, Jeanie Buss can no longer serve as governor of the Lakers. When Walter first bought the majority stake of the franchise in June 2025, he had agreed to allow Jeanie, the daughter of Jerry, to serve as governor of the Lakers through the 2030 season. On Wednesday, Iger had told the California Post that he and Kushner had “every intention to honor” the agreement that Jeanie Buss had made with Walter to remain on as governor.
Yet, NBA rules mandate that a person must retain at least a 15% ownership stake in a franchise to act as governor.
It is unclear who will serve in that role moving forward. With their addition of the 17.8% stake that had belonged to the Buss family, the Kushner and Iger group will now control north of 82% of the franchise.
The sale to the Kushner and Iger group will still need approval from the NBA’s board of governors. The next session will be held in September in New York, though a vote on the transfer of ownership may not take place then.
Whenever it does, approval will require 75%, or at least 23 of the 30 owners.
Clippers owner Steve Ballmer congratulates Kawhi Leonard after he scored 55 points durin ga win over the Pistons in December at Intuit Dome. (Katelyn Mulcahy/Getty Images)
The NBA investigation into whether payments from Clippers team sponsors to star player Kawhi Leonard were a prohibited attempt to circumvent the salary cap has moved to a contentious discussion phase between the team and the league, people with knowledge of the case not authorized to discuss it publicly confirmed to The Times on Monday.
ESPN reported that the probe conducted on behalf of the NBA by high-powered New York law firm Wachtell Lipton Rosen & Katz has found no evidence establishing that Clippers owner Steve Ballmer funneled money through Aspiration Partners, Daktronics or other team sponsors to pay Leonard millions of dollars in excess of his player contract.
However, the NBA issued a statement that read: “ESPN’s article regarding the LA Clippers investigation — for which the NBA declined to cooperate — contains numerous and significant inaccuracies. The results in this matter will be made clear once the investigation is concluded.”
The Clippers’ stance has not changed since it was reported on Pablo Torre’s podcast 11 months ago that Ballmer invested $60 million in Aspiration, a self-described “socially-conscious and sustainable banking services” firm that in turn promised Leonard $28 million in an endorsement deal.
“The Clippers introduced players, including Kawhi Leonard, to companies with which we had business relationships,” the Clippers said Monday in a statement to The Times. “Making introductions between players and team partners is both an ordinary practice by NBA teams and a common request of players and representatives.
“From there, Kawhi and his representatives handled their own negotiations. The Clippers did not negotiate or dictate the terms of Kawhi’s endorsement agreements or determine what he would be paid.”
There is no evidence that Leonard did endorsement work for Aspiration, which went bankrupt and saw its co-founder Joseph Sanberg sentenced to 14 years in prison in June for defrauding investors and lenders of over $248 million.
ESPN reported that the NBA probe has shifted from Ballmer’s involvement to whether the Clippers’ introduction of Leonard to team sponsors was done in an acceptable manner. The outlet reported the two sides met recently to discuss the probe’s preliminary findings as well as a resolution, but no agreement has been reached. The Clippers can request arbitration if they oppose the findings.
The Clippers contend they did nothing different than numerous other teams across the sports landscape do by introducing a player to a potential sponsor. The difference, they say, was that Leonard’s Aspiration deal was made public when the company filed for bankruptcy.
“The fact that a player has an endorsement relationship with a company that also does business with his team is not evidence of salary-cap circumvention,” the Clippers said in their statement. “After nearly a year of scrutiny, the central fact remains true and unchanged: the Clippers did not funnel money to Kawhi Leonard, arrange for others to compensate him on our behalf, or otherwise provide him with undisclosed compensation outside of his NBA contract.”
Over time, the case has added layers of complexity. Torre reported on his podcast Aug. 6 that Leonard had a second lucrative undisclosed sponsorship agreement with a company doing business with the team. Scoreboard manufacturer Daktronics, which built the $100-million video board at the Clippers’ Intuit Dome, hired Leonard to a multimillion-dollar endorsement deal for which he did no work, according to Torre.
The topic was raised on the podcast by a person identified as an “anonymous high-level source under contract for Intuit Dome.” The person alleged in an interview that the sponsorship deal was “1,000% a way to circumvent the salary cap. It was funneling money from the Clippers through Daktronics back to Kawhi.”
The endorsement deal with Daktronics raised suspicion because the company doesn’t do business with the general public and doesn’t need prominent athletes or celebrities to pitch its products.
Ballmer, the former Microsoft CEO and one of the wealthiest people in the world, was added as a defendant in a civil lawsuit against Sanberg and others associated with Aspiration — renamed Catona Climate in 2025 just before the bankruptcy filing — brought by 11 investors in the company. Ballmer and other defendants are accused of fraud and aiding and abetting fraud, with the plaintiffs seeking at least $50 million in damages.
“Ballmer was the perfect deep-pocket partner to fund Catona’s flagging operations and lend legitimacy to Catona’s carbon credit business,” says the amended complaint viewed by The Times. “Since Ballmer had publicly promoted himself as an advocate for sustainability, Catona was an ideal vehicle for Ballmer to secretly circumvent the NBA salary cap while purporting to support the company as a legitimate environmentalist investor.”
Leonard was traded by the Clippers to the Toronto Raptors on June 30, but the teams put the deal on hold pending the outcome of the investigation after the NBA stated the Raptors would inherit any sanctions on Leonard triggered by the probe if it finalized the trade. NBA commissioner Adam Silver is pressing for the case to be wrapped up before the regular season begins in October.
The salary cap limits what teams can spend on player payroll to ensure parity and prevent the wealthiest teams from outspending smaller-market teams to acquire the best players. Silver has called attempts to circumvent it a “cardinal sin.”
Salary-cap circumvention allegations first surfaced with Leonard during his free agency in 2019 after he led the Raptors to the NBA championship and was being courted by the Lakers and Clippers.
Negotiations with the Lakers ceased when Leonard’s uncle, Dennis Robertson, requested a house, the use of private aircraft, guaranteed off-court earnings and an ownership stake in the team, according to the Athletic. The Lakers informed Leonard’s representatives that those requests violated the NBA collective bargaining agreement and Leonard eventually signed with the Clippers, where he played the past seven seasons.
NEW YORK, NEW YORK - APRIL 09: Head Coach Jordi Fernandez of the Brooklyn Nets reacts during the second half against the Indiana Pacers at Barclays Center on April 09, 2026 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Jordan Bank/Getty Images) | Getty Images
Welcome to SB Nation Reacts, a survey of fans across the NBA. Throughout the year we ask questions of the most plugged-in Nets fans and fans across the country.
Whatever win total you have in mind for the Brooklyn Nets, double it before you ask Jordi Fernandez.
For whatever it means to the Nets, oddsmakers and pundits don’t project win totals based on what a head coach thinks about his team. Brooklyn added three-time All-Star Julius Randle and clearly improved this offseason, but the Eastern Conference only got stronger following the Knicks first championship in 53 years.
Eastern Conference Offseason Moves: Which NBA Stars Moved East?
LeBron James joined a loaded 76ers team with Joel Embiid, Tyrese Maxey, Jaylen Brown in Philadelphia.
Kawhi Leonard is headed to the Toronto Raptors. Still pending.
Trae Young, Anthony Davis, and 2026 No. 1 overall pick AJ Dybantsa are all new additions for the Washington Wizards.
That’s at the very least. Tyrese Haliburton (torn Achilles tendon) returns to an Indiana Pacers team that made the NBA Finals two seasons ago. Giannis Antetokounmpo is headed to the Miami Heat from Milwaukee, jolting a new championship-contending era for Pat Riley and Erik Spoelstra.
With all of this said, it’s all talk until the games are played. FanDuel has the Nets winning 24.5 games this season after they won 20 in 2025-26.
How many games do YOU think the Nets will win in the 2026-27 season?
The family, which has had ownership stakes in the Lakers since the late Dr. Jerry Buss purchased the franchise in 1979, is selling its remaining ownership stake in the franchise to businessman Josh Kushner and former The Walt Disney Company CEO Bob Iger.
Jeanie Buss during a Lakers game on Oct. 13, 2023. ZUMAPRESS.com / MEGA
“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction,” the family said in a statement to ESPN. “We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”
Once the sale is official, Jeanie Buss will no longer be able to be the Lakers Governor.
She’s been the franchise’s Governor after her father died in February 2013.
The NBA requires that all Governors have an ownership stake of at least 15% of the franchise to be in the role.
The Buss family’s remaining shares in the Lakers was close to 18% of the franchise.
When Walter purchased the majority ownership of the Lakers from the Buss family, the league announced that Buss would remain the team’s Governor for a period of at least five years.
“We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise,” Iger told the Post. “And we have every intention to honor the agreement that was made between Mark and Jeanie. If things change, they’ll change, but we’re going into this with enormous respect and appreciation for who she is and what she represents in the organization.”
Things changed.
The Buss family trust, which includes six of Jerry Buss’ children – Jeanie, Johnny, Jim, Janie, Joey and Jesse – needed a majority vote (four out of six) to allow the trustees to sell their shares.
Now, the trustees will execute the sale.
ESPN reported Jeanie didn’t vote to sell the family’s ownership stake in the Lakers, while the other five siblings in the trust did.
Kushner and Iger are buying around 65% of the Lakers in their deal with Walter, meaning they’ll own around 83% of the franchise once the sales are official.
Walter, who’s the CEO of Guggenheim Partners and TWG Global, will wind up being the majority owner of the Lakers for less than a year.
The news of him selling the Lakers came amid a federal investigation into Walter and some of his business practices. It was recently reported that the FBI seized Walter’s phone and laptop, as well as a top Guggenheim Investments executive last year.
That news prompted speculation that the Lakers sale was a quick way to liquify assets for any potential legal troubles facing Walter.
It could take several weeks, or months, before the sales of the Lakers are official.
The transactions still need to be approved by the league’s Board of Governors, with the next board meeting scheduled for mid-September in New York.
Kushner also must sell his minority ownership stake in the Heat before he can officially become the Lakers’ co-majority owner.
The Buss family has owned the Lakers since May 1979, when Jerry Buss bought the franchise from Jack Kent Cooke for $67.5 million. The deal also included the NHL’s Kings and the Forum in Inglewood.
Buss sold the Kings to Bruce McNall in 1988, and sold the Forum in 1999 ahead of the Lakers’ move to Staples Center (now known as Crypto.com Arena).
The Lakers have won 11 championships since Jerry Buss purchased the franchise 1979, which is the most by any NBA team during that span.
Los Angeles, CA - February 22: Jeanie Buss during the statue unveiling for former Lakers coach Pat Riley in Star Plaza in front of Crypto.com Arena in Los Angeles on Sunday, February 22, 2026. Riley won 4 championships as Lakers head coach. (Photo by Keith Birmingham/MediaNews Group/Pasadena Star-News via Getty Images) | MediaNews Group via Getty Images
The Buss family, officially, no longer owns the Los Angeles Lakers.
Less than a week after Bob Iger and Josh Kushner purchased Mark Walter’s stake in the franchise, the Buss family opted to sell its remaining nearly 18% in the Lakers to the pair as well, as reported by Shams Charania of ESPN.
Breaking: The Buss family has decided to sell its remaining 17.8% ownership stake in the Los Angeles Lakers to new majority owners Josh Kushner and Bob Iger, sources tell ESPN.
The Buss family trust — composed of siblings Jeanie, Jim, Johnny, Janie, Joey and Jesse — received… pic.twitter.com/hPVqOvsuZ0
“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction. We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”
Iger and Kushner will not own 100% of the team — at least not yet — as Patrick Soon-Shiong still maintains a minority stake in the Lakers. The LA Times reported last week that he intended to remain a minority owner.
Among the many ramifications of this sale is that Jeanie Buss will no longer be governor of the team. League rules mandate the team’s governor must own at least 15% of the team.
However, according to Yaron Weitzman, who has been around the Lakers since writing a recent book on the LeBron James era, the five other siblings decided to sell the team, ousting Jeanie as governor in the process.
Follow-up reporting: The tag-along clause was executed after the other five siblings sent Jeanie signatures stating that they wanted the family to sell its shares, according to a source. https://t.co/OD06hOjVah
This sale will completely remove the Buss family from the Lakers. Calling it the end of an era would certainly be an understatement.
Dr. Jerry Buss bought the team in 1979 and the family maintained majority ownership through the sale to Mark Walter in 2025. When/if this sale becomes official, it will end over four decades of ownership by the Buss family.
While the transition from the Buss family to Walter felt like an attempt to keep something close to the status quo, particularly with keeping Jeanie involved, this feels like wiping the slate clean. That certainly may not be a bad thing.
Since Dr. Buss’s passing, drama has defined the family’s ownership. Over the last 10 years, Jeanie has fired every sibling from the franchise, culminating in Joey and Jesse’s abrupt end last fall. However, it appears the siblings made the biggest call.
Now, we’ll head into a completely new era of the Lakers, a phrase that’s been repeated multiple times over the last 18 months. But with the Buss family out and LeBron no longer donning the purple and gold, the franchise will get a fresh start on and off the court.
