Buss trying to block her siblings' sale of family stake in Lakers
Summary
Jeanie Buss, the current governor of the Los Angeles Lakers, is trying to stop her siblings from selling the family's remaining shares in the team to a group led by Bob Iger and Josh Kushner. The family had agreed to sell the 17.8% stake, but Jeanie claims that her approval is required to complete the sale.Key Facts
- Jeanie Buss has been the Lakers' governor since 2013, after her father Jerry Buss passed away.
- The Buss family has owned part or all of the Lakers since 1979.
- The family agreed to sell their remaining 17.8% stake in the Lakers to Bob Iger and Josh Kushner's group for $12.5 billion.
- Jeanie Buss's lawyer stated that her approval is necessary for the sale because she is one of three co-trustees of the family trust.
- The lawyer said any vote to sell without Jeanie's consent is invalid and could be a legal breach.
- Mark Walter currently owns the controlling interest in the Lakers and will sell it to the new group.
- The Lakers have won 17 NBA titles, with 11 under Buss family ownership.
- If approved by the NBA board, this would become the most expensive sale of a sports team ever.
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