Jeanie Buss, her lawyer, push back on report Buss family to sell remaining stake in Lakers
Jeanie Buss and her legal team are contesting reports that the Buss family plans to sell their remaining stake in the Los Angeles Lakers. Her attorney argues that such a sale would violate existing trust agreements and court rulings regarding the team's ownership structure.
Why it matters
The ownership of a major sports franchise is a significant business and cultural issue, particularly regarding the stability of team leadership.
The original report was stunning: The Buss family had voted and planned to sell its remaining 17.8% stake in the Lakers to incoming owners Joshua Kushner and Bob Iger. That sale would mean the Buss family’s ownership of the team, which started in 1979, would be completely over. The end of an era. With that, Jeanie Buss would have to step down as the team’s governor (a role that requires at least a 15% ownership stake, by league rules).
Then came a follow-up report saying the other five Buss siblings had approached Jeanie Buss and asked for the sale, forcing a vote that approved the move.
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