Buss Family Feud Over Lakers Sale Intensifies With New Court Filing
Five siblings challenge Jeanie Buss's petition to remove them as co-trustees, aiming to block the sale of the family's remaining stake in the team.
The internal dispute among the Buss siblings over the Los Angeles Lakers' future has escalated with a new court filing. Five of the six Buss children have submitted a 29-page document to the Los Angeles Superior Court opposing their sister, Jeanie Buss, the acting governor of the Lakers.
This latest filing, submitted on behalf of siblings Joey and Janie Buss, directly counters Jeanie Buss's earlier petition to have them removed as co-trustees. Their removal would invalidate a 5-1 vote by the siblings to sell the family’s remaining 17.82% ownership stake in the Lakers. The majority ownership group, previously led by Mark Walter, sold the Lakers to businessman Josh Kushner and former Disney CEO Bob Iger in August.
NBA team ownership rules require a governor to hold at least a 15% stake. If the Buss family were to sell its remaining shares, it would disqualify Jeanie Buss from her current role.
The new court document reaffirms the siblings' position that any proposed sale of their stake requires a two-thirds majority vote from all six siblings. Jeanie Buss was the sole sibling to vote against the sale.
The filing also asserts that the siblings exercised voting rights granted to them as beneficiaries, arguing that this action does not constitute contempt or aiding and abetting a breach of fiduciary duty.
The rift within the Buss family regarding the team's ownership has been increasingly public, and this latest legal maneuver further complicates the situation.