5 Buss siblings say they still intend to sell Lakers minority shares despite Jeanie’s opposition
Summary
Five of Jerry Buss’s six children want to sell their small part of the Los Angeles Lakers basketball team, even though their sister Jeanie disagrees. They plan to sell their shares to Josh Kushner and Bob Iger, who are buying the majority ownership from Mark Walter.Key Facts
- Five Buss siblings (Johnny, Jimmy, Janie, Joey, Jesse) want to sell their 17.8% minority stake in the Lakers.
- They are selling to Josh Kushner and Bob Iger, who are acquiring majority control from Mark Walter.
- Jeanie Buss opposes the sale and says the siblings cannot sell without her approval.
- If the sale happens, Jeanie would lose her position as Lakers governor, a role she has until 2030.
- The Lakers were valued at $10 billion in last year’s sale to Walter but are now valued at $12.5 billion.
- Jeanie has been Lakers governor since their father Jerry Buss died in 2013.
- There has been ongoing conflict among the Buss siblings related to control of the team.
- Some siblings lost their front-office jobs after disagreements over Lakers management.
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