Buss Siblings Snub Jeanie in New Statement on Lakers Sale
Shams Charania says his report was accurate as five Buss siblings back a sale and Jeanie Buss’s lawyers challenge the trust vote.
- On Tuesday, ESPN NBA insider Shams Charania defended his reporting on the Los Angeles Lakers' 17.8% ownership stake sale, rejecting claims from Jeanie Buss's attorney that his account was "falsely reported."
- Five of the six siblings voted to sell their trust shares to a group led by Bob Iger and Josh Kushner at a $12.5 billion valuation, though Jeanie Buss remains opposed to the transaction.
- Disagreement centers on whether Jeanie possesses veto power over the sale; her lawyer Adam Streisand cited a 2017 court order requiring co-trustee approval, while siblings assert their 5-to-1 majority allows them to proceed.
- The siblings, who issued a statement saying they "remain united" in their decision to "gracefully exit," have seen the boardroom conflict spill into a public legal battle, as Charania clarified that Jeanie did not vote with the others.
- Because NBA rules require a governor to hold at least 15 percent of a franchise, the potential sale of the family's remaining interest puts Jeanie's role as the controlling owner at the center of this dispute.
34 Articles
34 Articles
Buss family backs Lakers stake sale as Jeanie Buss challenges vote
The Los Angeles Lakers’ latest ownership transition is no longer only about valuation. It has become a dispute over who has the authority to decide what happens to the Buss-family’s final stake in the franchise. Five of the six members of the Buss trust — Johnny, Jimmy, Janie, Joey and Jesse — have reaffirmed their intention to sell the family’s remaining 17.8% interest. Jeanie, the only sibling who did not support the move, is contesting the de…
The Buss family announced that they are selling their shares in the Los Angeles Lakers. Now, their daughter, Jeanie, is opposing the $21.4 billion sale. Her lawyer says the sale cannot go through without her approval.
Jeanie Buss Open To Scenario Letting Siblings Sell While She Stays Lakers' Governor
Jeanie Buss may have a path to remain Los Angeles Lakers governor even if her siblings proceed with selling their shares, according to The Athletic. A league source indicated Buss would be open to exploring a scenario that lets her retain control of at least 15 percent ownership, the NBA's minimum threshold for team governors. The possibility emerges amid an escalating dispute between Buss and her five siblings, who voted through the Buss Family…
Lakers Governor Takes Issue With Sale
Family drama around the Los Angeles Lakers' future just escalated. The Athletic reports that team governor Jeanie Buss is formally challenging her siblings' reported vote to sell the family's 17.8% stake in the franchise—a move that could have ended her control of the team—calling it a violation...
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