5 Buss siblings intend to sell family's Lakers shares
Five of the six Buss siblings are moving forward with plans to sell their minority stake in the Los Angeles Lakers to Josh Kushner and Bob Iger. This move is being contested by their sister, Jeanie Buss, who currently serves as the team's governor.
Why it matters
The sale involves a high-profile sports franchise and highlights ongoing internal family conflicts regarding the ownership and control of the Lakers.
LOS ANGELES (AP) — Five of the six children of former Los Angeles Lakers owner Jerry Buss still intend to sell their remaining minority ownership of the NBA team despite the opposition of their sister, Jeanie.
Johnny, Jimmy, Janie, Joey and Jesse Buss reiterated their stance Tuesday in a statement issued to ESPN, saying they “remain united in that decision. ... We intend to move forward thoughtfully, respectfully and through the appropriate process."
The five Buss siblings said Monday they had voted to sell the family trust's remaining 17.8% stake to Josh Kushner and Bob Iger, who are acquiring majority ownership from Mark Walter.
Jeanie Buss announced her intention to fight back against the plan later Monday through a letter from her attorney, Adam Streisand. Jeanie Buss claims the siblings can't sell the trust's ownership shares without her approval.
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