Five of the six Buss siblings want to sell their shares in the Los Angeles Lakers. Jeanie Buss contends they can’t do it without her approval.
In another twist to the Buss family drama, Jeanie Buss’ lawyer sent a letter to her siblings’ lawyers claiming that any sale that would remove his client as controlling owner would be “in breach of trust” and “in contempt of court.”
Buss family has battled over Los Angeles Lakers for years
Attorney Adam Streisand cites a court order from 2017 as the basis for contending the siblings’ planned sale is illegal. That arose when Jeanie Buss fired brother Jim Buss as president of basketball operations, hiring Rob Pelinka and Magic Johnson in his place. Jim and Johnny Buss then attempted to replace their sister on the Lakers’ board of directors, where the family had three seats.
Jeanie thwarted the coup attempt, backed by sister Janie and brothers Joey and Jesse Buss. Jim and Johnny resigned as co-trustees, replaced by Janie and Joey. But when the Buss family sold to Mark Walter last summer, Joey and Jesse were fired and Janie was forced to resign.
Perhaps the remaining siblings wanted revenge when they sold their shares, knowing Jeanie couldn’t remain as team governor. They would also net roughly $370M each from the sale, based on the team’s $12.5B valuation. But Jeanie does not appear to be going down without a fight.