Jeanie Buss Challenges Siblings in Lakers Share Dispute

Jeanie Buss has taken legal action to contest a vote by her five siblings regarding the sale of their family's remaining 17.8% stake in the Los Angeles Lakers. Through her attorney, Adam Streisand, Buss filed a petition in Los Angeles Superior Court, asserting that the vote is illegal and accusing her siblings of plotting to oust her as the team's governor.

The Buss family, which includes Johnny, Jim, Janie, Joey, Jesse, and Jeanie, has been embroiled in disputes over the management of the franchise. Jeanie and her siblings, who are co-trustees of the family trust, have seen their roles shift significantly after the sale of the team to Mark Walter, with Jeanie remaining in a prominent position while others have been sidelined.

The siblings voted to invoke a tag-along clause to participate in the recent sale of the Lakers to Josh Kushner and Bob Iger, a deal valued at $12.5 billion. This would potentially yield approximately $370 million for each sibling if the sale goes through.

Buss's petition raises five legal arguments, including references to a 2017 court order that mandated actions to ensure her role as Controlling Owner. She contends that the trust requires her to maintain control of the team and that NBA bylaws necessitate a minimum ownership stake to fulfill her role as governor.

This family saga has drawn comparisons to a dramatic television series, as Jeanie has navigated her position while her siblings have been pushed out over the years. The ongoing legal battle is not expected to hinder the sale of the Lakers, but it highlights the complex dynamics within the Buss family and the significant financial stakes involved.