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Jeanie Buss, the governor of the Los Angeles Lakers, is reigniting a legal battle with her siblings over the potential sale of the family's stake in the NBA team. The conflict, which began in 2017, has resurfaced as Jeanie opposes her siblings' decision to sell the remaining 17.8% of the Lakers to a new ownership group led by Josh Kushner and Bob Iger.
According to a report by CNBC, Jeanie Buss's lawyer, Adam Streisand, has stated that any vote to sell the family's stake is void without her consent. Streisand emphasized that Jeanie remains the controlling shareholder, and any sale must be approved by the co-trustees, which include Jeanie, Janie, and Joey Buss.
The Buss siblings, however, have expressed their intention to proceed with the sale, citing their desire to move on and exit gracefully. They released a statement through ESPN affirming their decision to sell the family's shares to the Iger group. The sale, if completed, would give Kushner and Iger an 83% ownership share in the Lakers, following their recent purchase of Mark Walter's majority stake, valued at $12.5 billion.
Jeanie Buss's opposition stems from her desire to retain her role as governor of the team. NBA rules require a minimum 15% ownership to hold this position. The ongoing dispute highlights the longstanding tensions within the Buss family, which have been a focal point since the death of Dr. Jerry Buss in 2013.
This legal battle is expected to be lengthy and could impact the Lakers' future operations. The team's performance and management decisions, including those involving star player Luka Dončić, could be influenced by the outcome of this dispute.