What keeps a storied NBA franchise stable across generations? In the case of the Los Angeles Lakers, the answer is a plan, written before it was needed, called the buss family trust. It is the structure that holds the team, guides leadership, and keeps control in the family.
Here is the setup in simple terms. Dr. Jerry Buss bought the Lakers decades ago. He later placed ownership into a trust so the team would stay in the family when he passed. After his death in 2013, that plan took effect.
The trust kept a controlling stake in the franchise and placed family leadership on a clear track. Today, Jeanie Buss serves as controlling owner and the team’s governor to the NBA, and the trust still holds the controlling interest.
In this article, I explain how the buss family trust works, how control is handled day to day, and the lessons any family can use when planning for a business, a property portfolio, or a legacy that needs to last.
What the Buss Family Trust Is and Why It Matters
At its core, a trust is a legal tool to hold assets for people named as beneficiaries. Think of it as a plan that lives on paper and then lives on in practice. The buss family trust holds a controlling interest in the Lakers, which supports stable ownership and smooth leadership from one generation to the next.
The Buss family includes Jeanie Buss and her siblings. Some work in or around the business, others focus on different paths. A trust can set rules for how votes are cast, who leads at the team and board level, and how and when money gets paid to beneficiaries. Those guardrails matter in a high-profile, high-value asset like an NBA team.
A simple definition of a family trust
I see a trust as a legal box that holds property. The trust document creates the box and sets the rules. A trustee manages what is inside the box based on those rules. The people named to receive benefits are the beneficiaries.
Money can be paid out based on the plan, or it can be held for growth. The trust can also say who gets to vote on big choices, who runs the business, and when control changes. None of this needs heavy legal terms to make sense. It simply puts decisions and distributions in writing before emotions and pressure make those choices harder.
How Dr. Jerry Buss set up long-term control
Dr. Jerry Buss wanted the Lakers to stay in the family. Planning for that future meant he had to think about succession and taxes while he was alive. He placed the team’s ownership into the buss family trust and spread interests among his children.
The trust set guardrails for who would control votes and leadership after his passing. The exact terms are private, as most trusts are, and that privacy also helps the plan work without noise.
He died in 2013. The succession plan turned from paper to practice. The trust’s structure helped avoid a forced sale and protected the franchise’s direction.
Who leads today and who benefits
Jeanie Buss is the controlling owner of the Lakers and serves as the team’s NBA governor. Her siblings are beneficiaries of the trust, and several have held roles related to the team or business over time. Beneficiaries do not have to manage daily decisions.
The trust rules and the board guide roles, voting, and strategy. Trustees administer the trust based on the document. Those names and powers are mostly private, which is normal for estate planning.
Why the Buss Family Trust matters to fans and the city
A clear control plan supports long-term decisions. That includes front office hires, coaching changes, luxury tax spending, and arena or media strategy. Fans feel the ripple effects when stability allows a front office to plan beyond one season.
The city benefits from a franchise tied to local roots, community programs, and business partners. The buss family trust helps anchor the team in Los Angeles and reduces the chance of a sudden shift in ownership.
How the Buss Family Trust Controls the Lakers Today
Control often gets fuzzy in sports, so I keep it plain. The buss family trust holds a majority stake in the Lakers, often reported as about two thirds. That voting power lets the trust choose the team governor, guide board seats, and make major calls, all within NBA rules. Minority owners hold the balance, but they do not control the franchise.
A key test came in 2017, when a public family dispute raised questions about leadership. The outcome affirmed Jeanie Buss as controlling owner, and the trust’s plan held. That moment made clear how the trust divides votes and authority.
What a controlling stake means in practice
A controlling stake is voting power. It sets the direction at the board level. It selects leadership, approves major budgets, and decides on capital plans. The trust can also set how dividends work and how cash is managed.
In sports, big moves still follow league bylaws, collective bargaining rules, and salary cap mechanics. Control does not remove those guardrails. It determines who gets to push the buttons, how choices are made, and what the long-term path looks like.
The NBA governor role and board decisions
Every NBA team has a governor who serves as the official voice to the league. The governor signs off on transactions, hires, and big agreements, subject to internal approvals. Jeanie Buss is the Lakers governor. The board, officers, and advisors handle details, finance, and operations. The governor, supported by the board, aligns those parts with the team’s strategy.
Key moments that tested control, and what changed
Two points matter. First, the 2013 transition after Dr. Buss passed. The trust took effect, and leadership moved under the plan. Second, the 2017 conflict. Court filings and NBA procedures supported Jeanie Buss as controlling owner. That outcome affirmed the trust’s structure, clarified roles, and kept the franchise’s direction intact.
How money flows without losing control
A trust can pay beneficiaries from profits, dividends, or other distributions. The trick is funding those payments, and any taxes, without selling the core asset. Families use tools like life insurance, smart credit lines, or sales of small interests to raise cash while keeping control. The buss family trust model shows how careful planning can cover cash needs and still protect the majority stake.
Estate Planning Lessons From the Buss Family Trust
The story is more than basketball. It is a case study for any family that owns a business or valuable assets. The lessons are simple, and they scale to different sizes.
Keep a family business in the family
A trust can lock in ownership, set who votes, and stop forced sales. That stability preserves brand value, vendor ties, and jobs. In sports, it also supports long-term roster and facility planning. In other fields, it keeps factories, farms, or offices on a steady path.
Put clear rules in writing to limit fights
Fights grow in the gaps. When documents spell out board seats, buy-sell rules, trustee powers, and voting procedures, conflicts lose oxygen. Clear roles for siblings and heirs reduce stress, protect relationships, and speed decisions. Put the rules in writing while everyone is calm.
Plan early for estate taxes and cash needs
Big estates face big tax bills. That fact can force sales if planning waits too long. Common tools help: life insurance held in the right structure, loans secured by interests, or sales of small nonvoting pieces to raise cash. Early planning protects control and buys time for smart choices. The buss family trust shows how a well-timed plan can keep prized assets intact.
Choose leaders for skill, not just title
Family does not always mean fit. Pick a controlling owner or lead manager based on skill, track record, and temperament. Add a board, outside advisors, and clear accountability. Strong leadership, backed by good governance, beats a title without support.
Conclusion
The core idea is simple. The buss family trust protects control of the Lakers, guides leadership, and pays heirs without forcing a sale. That benefits fans, the team, and Los Angeles by keeping decisions stable and long-term goals in focus.
If I boil it down to takeaways any family can use, here is the list. Plan early, write clear rules, pick capable leaders, and protect cash flow. Consider the future owner and the next one after that. If you want a plan that fits your needs, talk with a qualified advisor and start the work while time is on your side.
Common Questions About the Buss Family Trust and Lakers Ownership
Fans, business owners, and estate planners all ask similar questions. Here are direct answers based on public facts. I use the term buss family trust a few times for clarity.
Q1.Is the Buss Family Trust public or private?
The buss family trust is private. Trust documents are not public records. Some details appear in court filings, news reports, or league paperwork, but the full terms are not disclosed.
Q2.Could the Lakers be sold or moved?
A sale would require approval by the trust decision makers and by the NBA. Moves are rare and require league approval, arena deals, and market analysis. The buss family trust was built to keep the team in Los Angeles, so a move is not part of the plan the family has followed.
Q3.How do beneficiaries get paid from the trust?
The trustee follows the trust document. Payments may come from team profits or dividends. At times, the trust may retain earnings for growth or to fund taxes or capital needs. The approach balances cash flow and the goal of keeping control.
Q4.Who owns the rest of the Lakers?
Minority investors hold the balance of the team. They do not control it. The buss family trust holds the controlling interest and guides the team’s direction through voting power and board leadership.
