The Buss Family Trust: How the Lakers Stay in the Family

If you care about the Los Angeles Lakers, you care about who owns them. Stable ownership shapes big decisions, hires the right people, and sets a long view that goes beyond one season. The Buss Family Trust sits at the heart of that stability.

This is a plain-English guide to what the trust is, how it works, and why it matters. You will get a short history of Dr. Jerry Buss, how Jeanie Buss became the controlling owner, what control looks like day to day, and practical lessons any family can use.

The trust holds a majority stake in the Lakers, widely reported at about two-thirds, and its main goal is simple: keep control with the Buss family while keeping the team steady.

What Is the Buss Family Trust and Why It Matters to Lakers Fans

A family trust is a legal container. You place assets into it, name someone to manage those assets, and set rules for how the next generation benefits and makes decisions. The trust owns the asset, not any one person, which makes planning and control much cleaner.

Dr. Jerry Buss bought the Lakers and built a long-term plan for how the team would outlive him. He used a trust to pass the reins, reduce legal mess, and keep the team inside the family. The core idea is direct: the Buss Family Trust holds a majority stake in the Lakers so control stays in Buss hands.

Key people tied to the trust and leadership include:

• Jeanie Buss: controlling owner and Governor of the Lakers
• Siblings: Johnny, Jim, Janie, Joey, and Jesse, each with roles that have changed over time

Why should fans care? A trust with clear rules supports:

• Stable ownership that is hard to shake in a crisis
• Long-term thinking on hires, contracts, and development
• Fewer forced sales, which keeps direction steady
• Clearer leadership, since the Governor speaks for the team under NBA rules

Quick Background: Jerry Buss and the Birth of the Trust

• In 1979, Dr. Jerry Buss purchased the Lakers and related assets, launching a run that reshaped the franchise.
• He grew the team brand through star rosters, strong management, and entertainment-focused strategy.
• Before his passing in 2013, he built an estate plan that used trusts and business entities.
• Why a trust? To avoid messy probate, reduce taxes, lay out control rules, and keep the team in the family.

What the Trust Owns and Protects

• The trust holds a majority stake in the Lakers, widely reported at about two-thirds, with several minority owners outside the family.
• Control and cash flow are not the same thing. A trust can set who votes on key matters, as well as who receives income.
• Common trust goals include:

• Protecting against disputes by locking in voting rules
• Guarding against creditors or outside pressure
• Reducing the risk of a forced sale during hard times

Who Does What: Jeanie Buss and the Siblings

• Jeanie Buss serves as the controlling owner and NBA Governor. Under league rules, one person represents the team in votes and top-level decisions.
• Siblings have worked in different areas, from business ops to basketball ops. Roles have shifted with time and need.
• The trust sets the framework, but the front office handles day-to-day moves, like signings, scouting, and cap strategy.

Inside the Buss Family Trust: Structure, Roles, and Control

Trusts often own business interests through LLCs or corporations. Think of it like a set of nesting boxes. The trust sits at the top, then an LLC holds the team interest, and managers or a board handle operations below.

Two groups matter:

• Trustees manage the trust property according to the trust document.
• Beneficiaries receive benefits. They may receive distributions, but they do not necessarily control the asset.

In the NBA, every team names one controlling owner, called the Governor. That person votes in league matters and serves as the face of ownership for key calls.

Money flows from team operations to the ownership entities. Profits may be reinvested in payroll, facilities, or staff. Remaining funds can be distributed to owners, including the trust. The trust then decides what to distribute to beneficiaries or retain for taxes, debt, or future needs.

Trusts that hold family businesses often include guardrails:

• Voting rules that prevent sudden shifts
• Sale restrictions that require broad consent
• Clear tie-breakers so decisions do not stall

How Control Works Day to Day

The Governor’s responsibilities include:

• Voting in NBA matters
• Approving ownership-level contracts or commitments
• Hiring or approving top executives

A board or managing member group may oversee large strategic moves. Routine decisions, like player development or scouting, sit with the front office and coaching staff. Good structure keeps big calls at the top and leaves basketball work to the experts.

Trustees, Beneficiaries, and Voting Power

Trustees must:

• Follow the trust document
• Act for the benefit of the group, not themselves
• Keep records and honor reporting duties

Beneficiaries share in the economic benefits, but they do not run the team. Control sits with trustees and the Governor role. To avoid deadlock, many trust documents use supermajority or consent rules. This waterline prevents one narrow faction from blocking a healthy path forward.

Money Basics: Distributions, Taxes, and Reinvestment

Owning a pro team is capital intensive. Teams often reinvest in:

• Player payroll and development
• Facilities and technology
• Scouting and analytics staff

A trust can distribute income to beneficiaries or hold funds to pay taxes or debt. Estate tax planning is a large concern for family owners. The current federal estate tax exemption is set to shrink after 2025. Families often use tools like:

• Life insurance trusts to create cash for taxes
• Intra-family loans with clear terms
• Business entities that help manage control and valuation These tools help avoid a forced sale when taxes come due.

Sale Limits and Deadlock Breakers

Many family business trusts include clauses that make a sale difficult without broad family agreement. Think consent provisions, cooling-off periods, or rights of first refusal. To break ties, documents may:

• Name a controlling owner with final say in defined areas
• Bring in neutral votes for limited issues
• Set fallback steps with clear timeframes

Key Moments and Disputes: How the Buss Family Trust Held the Line

A clear plan matters most when the stakes rise. After 2013, the Buss family moved through a tough stretch yet kept control and direction.

Here is a simple timeline of key moments:

Year	Event	Impact
2013	Jerry Buss passes; trust structure takes effect	Control shifts to the next generation
2017	Boardroom dispute among siblings	Jeanie Buss remains Governor and controlling owner
2019	Front office retooling and roster moves	Clearer structure around decision-making
2020	Lakers win the NBA title	Stable ownership supports long-term planning
Ongoing	Minority stake changes outside the trust	Majority control remains with the Buss family trust

2013 Transition: Estate Taxes and Control After Jerry Buss

When a business owner dies, estate taxes can come due fast. Without a plan, families often sell prized assets to pay the bill. The Buss plan used a trust, entities, and sources of liquidity to help meet demands while keeping the team. This is what many owners want, a structure that keeps the engine running while the family adjusts.

2017 Power Struggle and Settlement

In 2017, a dispute broke into the open. It involved board control and the Governor role. After legal and governance steps, Jeanie Buss retained the Governor title and controlling ownership voice. That outcome kept the direction clear and removed the risk of a split message at the top.

Stability Since: Titles, Front Office, and Long-Term Focus

The Lakers won the 2020 championship. The front office continues to balance star talent and development. Ownership stability does not promise wins, but it helps. A steady plan makes it easier to invest in scouting, facilities, and staff, and to ride out cap cycles and injuries.

Practical Lessons Any Family Can Use From the Buss Family Trust

You do not need an NBA team to learn from this. Families with businesses, real estate, or valuable collections can borrow key steps.

Set the Structure Early

• Use a revocable trust during life, then shift to an irrevocable plan at death.
• Place business interests in LLCs for clear ownership and easier transfers.
• Put it in writing: who leads, who votes, and how ties get broken.

Plan for Taxes Without a Fire Sale

• Work with a CPA and attorney to forecast estate and income taxes.
• Line up liquidity with insurance, loans, or buy-sell agreements.
• Write rules that discourage rushed sales when cash is tight.

Write Clear Roles and a Succession Path

• Name the controlling owner or managing member in the documents.
• Separate family status from business jobs. Choose leaders for skill and fit.
• Create a short family charter that covers values, conflict steps, and meeting cadence.

Checklist to Discuss With Your Attorney

• Who serves as trustee now, and who serves next?
• How will votes work for a sale, big debt, or mergers?
• What liquidity exists for taxes and buyouts?
• How will disputes be handled without hurting the business?
• How often will the plan be reviewed, given the 2026 estate tax sunset risk?

Conclusion

The Lakers did not stay family-owned by luck. The Buss Family Trust and related planning set roles, smoothed the transfer, and supported long-term focus. Any family with a business can take a page from this playbook.

Build a clear trust structure, define leadership, and plan for taxes before a crisis. If you own a company or key assets, talk with an estate attorney and a CPA now. Set the structure, pick the leaders, and line up liquidity so your plan holds when it counts.

Quick FAQs About the Buss Family Trust and Lakers Ownership

Q1.Who controls the Lakers today?

Jeanie Buss is the controlling owner and NBA Governor of the Lakers. The Buss Family Trust holds the majority stake.

Q2.Can the Buss family sell the team?

Any sale would be difficult without broad agreement under the trust and ownership rules. The plan favors keeping the team in the family.

Q3.How many Buss siblings share in the trust?

There are six siblings tied to the family interests: Johnny, Jim, Jeanie, Janie, Joey, and Jesse. Their roles and jobs have changed with time.

Q4.Does the trust pay taxes?

Trusts can owe income tax. The estate of a deceased owner may owe federal estate tax. Good planning, like insurance or loans, helps cover taxes without selling core assets.