Jeanie Buss Opposes Siblings' Sale of Lakers Stake

Jeanie Buss, the governor of the Los Angeles Lakers, is actively opposing her siblings' recent decision to sell the family's remaining 17.8% stake in the iconic NBA franchise. The Buss family, which has held ownership since 1979, announced their vote to sell to a group led by former Disney CEO Bob Iger and Josh Kushner, a venture capital firm founder, for a staggering $12.5 billion.

In a statement, the Buss family expressed their affection for the Lakers and their fans but indicated that it was time to move on. However, Jeanie Buss's legal representation has asserted that any sale without her approval as a co-trustee is invalid. Her attorney, Adam Streisand, emphasized that her consent is necessary to maintain the minimum ownership requirement that allows her to remain the controlling owner.

The Buss family trust consists of Jerry Buss's six children, with Jeanie having served as governor since their father's passing in 2013. Jeanie's siblings, Johnny, Jimmy, Janie, Joey, and Jesse, have reiterated their commitment to proceed with the sale despite her objections, stating they aim to handle the process thoughtfully and respectfully.

The proposed sale, which would be the most expensive in sports history, still requires approval from the NBA's board of governors next month. If finalized, it would mark a significant financial gain for Mark Walter, who purchased his share from the Buss family last year for $10 billion. The Lakers, under the Buss family's ownership, have secured 17 NBA championships, making them one of the most successful franchises in league history.