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Jeanie Buss contesting family's vote to sell stake in Lakers
ESPN • • general
Key Points:
- Jeanie Buss, governor of the Los Angeles Lakers, is contesting her siblings' vote to sell the family's remaining 17.8% share of the team to Josh Kushner and Bob Iger, citing a 2017 court ruling requiring co-trustee approval for any sale.
- The Buss family voted to sell their shares at a $12.5 billion valuation following Mark Walter's recent sale of his shares, but Jeanie Buss did not participate in the vote and disputes its legitimacy.
- If the sale proceeds, Jeanie Buss would lose the minimum ownership percentage needed to remain the team's controlling owner, a position she is contractually guaranteed through 2030.
- Jeanie Buss' lawyer warned that any action to sell without unanimous co-trustee approval would breach fiduciary duties and court orders, demanding public affirmation of her status as controlling owner.
- The Buss family has owned the Lakers since 1979, overseeing 11 NBA championships and the franchise's record 2,289 wins since the 1979-80 season, marking a significant legacy under their stewardship.
