Jeanie Buss reportedly attempting to halt her siblings’ attempt to sell remaining stake in Lakers
Summary
Jeanie Buss is trying to stop her siblings from selling the family’s remaining 17.8% share of the Los Angeles Lakers to Bob Iger and Josh Kushner. She argues that selling the shares would violate NBA rules requiring the controlling owner to keep at least 15% ownership, which affects her role as the Lakers’ controlling owner.Key Facts
- The Buss family plans to sell their 17.8% share of the Lakers to Bob Iger and Josh Kushner.
- Jeanie Buss’s lawyer claims the sale breaks a court order requiring approval from all co-trustees.
- NBA rules require the controlling owner to hold at least 15% of a team’s shares.
- Jeanie Buss became the Lakers’ controlling owner and governor in 2013 after her father’s death.
- The family previously sold the Lakers to Mark Walter for $10 billion in a deal led by Jeanie Buss.
- Mark Walter sold the Lakers to Iger and Kushner last week for $12.5 billion; the NBA must approve this sale.
- If approved, Iger and Kushner would own about 83% of the team.
- The NBA board of governors will decide on the sale at a meeting scheduled for September 15.
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