Buss Family Drama Brewing After Reported Lakers Sale
Jeanie Buss is contradicting a report that her family will sell.
The Buss family is embroiled in drama following reports that they plan to sell their remaining stake in the Los Angeles Lakers. ESPN initially reported that the Buss family will sell its 17.8% stake to co-owners Joshua Kushner and Bob Iger, but this claim has been disputed by Jeanie Buss's lawyer. According to Jeanie Buss's legal representative, Adam Streisand of Sheppard, Mullin, Richter & Hampton LLP, the Buss family cannot sell their shares without approval from the current co-trustees, which include Jeanie, Janie, and Joey Buss.
Moreover, there is a court order requiring the family to maintain at least a 15% ownership stake to ensure Jeanie Buss remains the team governor.
Jeanie Buss, who has served as team governor since her family sold a majority stake in 2019, has expressed her desire to stay with the Lakers and continue supporting the franchise. However, some of the Buss siblings reportedly voted in favor of the sale, citing "tag-along" rights designed to protect minority investors. Despite the family's statement, ESPN's report has been challenged by Jeanie Buss's letter, which alleges that Joey and Jesse Buss have been leaking false and defamatory information to ESPN for malicious purposes.
The letter also asserts that the supposed "vote" to sell the stake was not approved by the current co-trustees and demands that the media clarify Jeanie Buss's controlling ownership of the Lakers.
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