Buss Siblings File Case Against Jeanie Buss Over Lakers Ownership Sale

Jeanie Buss’ siblings are opposing her stance that they cannot sell the family’s ownership stake in the Los Angeles Lakers without her permission. Five siblings of the Buss Family Trust — Johnny (69), Jim (66), Janie (62), Joey (41), and Jesse (37) — have filed a case against Jeanie Buss, who is attempting to block the sale of the remaining family ownership shares of the Lakers. The siblings stated, "Jimmy, Johnny, Janie, Joey and Jesse Buss, the five of six siblings who voted to sell the Trust’s shares in the Lakers, filed their formal opposition, demonstrating that Jeanie Buss’s petition is legally and factually baseless." They emphasized that their focus is on facilitating the proposed transaction while ensuring all beneficiaries, including Jeanie, are treated equally. The five siblings voted to sell the family’s 17.8% ownership stake in the Lakers to prospective majority owners Josh Kushner and Bob Iger. Kushner and Iger have agreed to purchase the majority shares of the Lakers from Mark Walter for a valuation of $12.5 billion, following Walter's acquisition of the team from the Buss family at a valuation of $10 billion less than a year prior. Jeanie Buss filed a petition in Los Angeles Superior Court in late August to block her siblings’ sale of their minority stake, arguing that they cannot legally execute a sale without her approval and that any vote to sell would be "void." To maintain her position as the Lakers governor, Jeanie or the Buss family must retain control of at least 15% of the franchise, according to NBA rules. Jeanie has served as the team’s governor since 2013, following the death of her father, Dr. Jerry Buss. After Walter purchased the majority ownership, the NBA announced that Buss would remain the team’s governor until at least 2030. Jeanie’s lawyer, Adam Streisand, filed a request to postpone the hearing of her petition, which was initially scheduled for November 5, and the hearing has been rescheduled for December 8.