Jeanie Buss has accused her siblings Joey and Jesse Buss of conspiring against her in a "cloak and dagger" campaign through the media, according to a court filing this week. She has asked a judge to block her siblings' attempts to sell the family's shares of the Los Angeles Lakers.
The filing states that the siblings are jealous of their father Jerry Buss's decision to leave Jeanie with governor rights to the team. Jeanie Buss does not want them selling the family's remaining 17.8% ownership stake, which is just above the NBA's 15% minimum for the family to retain control. A hearing is scheduled for December 8 in Los Angeles Superior Court.
Former Disney CEO Bob Iger and Josh Kushner lead an ownership group looking to buy the Lakers from Mark Walter at a valuation of $12.5 billion. Iger previously said the plan was for Buss to remain governor, but "if things change, they'll change."
The legal battle continues a saga dating back to Jerry Buss's death in 2013. Jeanie Buss contends a 2017 court order prevents any vote to sell the remaining family shares without her consent. In 2017, after Jeanie fired Jim Buss as head of basketball operations, he and Johnny Buss attempted to strip her of her board seat, but the sides settled with Jeanie remaining in control.
In the latest filing, Jeanie Buss asks the court to remove two siblings as co-trustees for breach of fiduciary duty, hold them in contempt, and find Jim, Johnny, and Jesse liable for aiding and abetting a violation of the 2017 order, with reimbursement for legal costs. If the family sells its entire stake, each sibling would receive an additional $371 million per go-along rights. Settlement talks have reportedly begun.
