Jeanie Buss Challenges Family's Plan to Sell Lakers Stake

Jeanie Buss is taking a stand against her family's recent decision to sell their 17.8% ownership stake in the Los Angeles Lakers. Her attorney, Adam F. Streisand, has sent a letter to her siblings' representatives declaring that any vote to sell is null and void.

The letter, which was first reported by CNBC and later obtained by USA TODAY Sports, counters an earlier ESPN report that claimed all six siblings had agreed to the sale. Streisand emphasized that Jeanie Buss remains the controlling owner of the family's stake, referencing a 2017 court order that mandates the co-trustees of the JAB Trust to ensure she is elected as the controlling owner for her lifetime.

Streisand's letter asserts that selling below the required 15% stake would violate the court order. He demanded that Jeanie Buss's status as the controlling owner be publicly acknowledged and that no actions be taken regarding the purported vote to sell the family's shares.

The Buss family's intention to sell comes shortly after a record-breaking deal where Kusher and Iger agreed to purchase the Lakers from majority owner Mark Walter for $12.5 billion. This sale marks a significant shift, as Walter had only recently acquired the team for $10 billion, ending the Buss family's 47-year majority ownership. If the siblings' sale proceeds, Kusher and Iger would control an estimated 83% of the team.