Jeanie Buss Moves to Halt Sibling Sale of Lakers Family Stake
Jeanie Buss, the governor of the Los Angeles Lakers, has taken legal action to prevent her brothers and sister from selling the family's remaining shares in the NBA team. The move,…
Jeanie Buss, the governor of the Los Angeles
Jeanie Buss, the governor of the Los Angeles Lakers, has taken legal action to prevent her brothers and sister from selling the family's remaining shares in the NBA team. The move, filed in a California court, seeks to block any transaction that would transfer ownership of the franchise's minority interest to outside parties.
According to court documents reviewed by reporters, Buss argues that the proposed sale would violate a longstanding family agreement designed to keep control of the Lakers within the Buss family. She contends that the siblings' plan could destabilize the team's management structure, which she has led since her father's death in 2013.
The siblings, who collectively own about 11% of the franchise, have reportedly been exploring a sale of their stake for months, with potential buyers including private equity firms and high-net-worth individuals. Their representatives have dismissed Jeanie's objections, stating that the sale is a straightforward financial decision that complies with all existing agreements.
Legal experts say the dispute hinges on the
Legal experts say the dispute hinges on the interpretation of a 2011 family trust document, which outlines voting rights and transfer restrictions. The document reportedly grants Jeanie broad authority to approve any ownership changes, a clause she now invokes to block the deal.
A hearing on the matter is scheduled for next month, and both sides have expressed willingness to negotiate, though no settlement talks have been confirmed. The Lakers, valued at over $7 billion, remain one of the NBA's most storied and profitable franchises, making the dispute particularly high-stakes.
For now, the sale remains in limbo, and observers note that the conflict could strain family relations further, especially with the team enjoying a competitive season on the court. Neither Jeanie nor her siblings have issued public statements beyond the court filings.