Buss trying to block her siblings' sale of family stake in Lakers — SkimNews
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- Jeanie Buss is moving to block her five siblings' sale of the Buss family's remaining 17.8% Lakers stake, with her lawyer calling any sale vote "void" without her approval as one of three co-trustees.
- The Buss family stated Monday that they "decided as a family to sell" to the Bob Iger group, saying it is "time to move on and exit gracefully while we still can."
- Josh Kushner (brother of Trump's son-in-law Jared) and former Disney CEO Bob Iger agreed last week to buy the controlling interest from Mark Walter for $12.5bn (£9.3bn).
- Walter purchased his share from the Buss family just last year for about $10bn (£7.45bn), meaning he stands to make a $2.5bn profit if the deal clears the NBA's board of governors next month.
- Jeanie's lawyer Adam Streisand warned that co-trustees are bound to maintain a minimum 15% ownership to keep Jeanie as controlling owner, and that any sale move would be a "breach of fiduciary duty."
- If approved next month, the transaction would become the most expensive sports team sale ever reported — surpassing the prior benchmark.
- The Lakers have won 17 NBA championships, 11 of them under Buss family ownership since Jerry Buss bought the franchise in 1979 for $67.5m.
Why it matters: Jeanie Buss's legal challenge could delay or derail what would be the most expensive sports team sale ever ($12.5bn), and the dispute exposes a structural fault line: five siblings say sell, but the trust's co-trustee rules give Jeanie veto power — meaning the family statement of unity may not be enough to close the deal.
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