5 Buss siblings say they still intend to sell Lakers minority shares despite Jeanie’s opposition

According to a recent statement released to ESPN, five of the six Buss siblings still intend to sell their remaining minority ownership of the Los Angeles Lakers. The siblings, Johnny, Jimmy, Janie, Joey, and Jesse Buss, reaffirmed their decision on Tuesday, stating they "remain united in that decision" and plan to proceed "thoughtfully, respectfully and through the appropriate process."

The Buss siblings announced their intention to sell 17.8% of the family trust's remaining stake in the NBA team to Josh Kushner and Bob Iger, who are acquiring majority ownership from Mark Walter. This sale has prompted Jeanie Buss to oppose the plan through a letter from her attorney, arguing that the siblings cannot sell the ownership shares without her approval.

If the five siblings successfully sell their remaining ownership, Jeanie Buss would lose her position as the Lakers' governor, a role she holds until at least 2030 under the agreement struck with Walter when he purchased majority control of the team for $10 billion. At that time, the team was valued at $12.5 billion following a sale that reportedly earned the Buss siblings nearly half a billion dollars each.

Jeanie Buss has been the Lakers' governor since her father Jerry Buss' death in 2013. She played a significant role in the family's decision to sell the team to Walter, who is currently under federal investigation for tax issues. Not all siblings were in favor of relinquishing majority control of the Lakers last year, and Joey and Jesse were dismissed from their front-office positions with the team in November. The Buss siblings have had a history of conflict since their father's death in 2013.