Five Buss family members release statement, say they're unified in wanting to sell remaining shares of Lakers

The Buss family comprised of Johnny, Jimmy, Janie, Joey, and Jesse have unveiled a joint statement revealing their consensus to sell the remaining 17.8% stake they own in the Lakers. This assertion came after Jeanie Buss, who serves as the team governor, and her legal counsel penned a strongly worded letter to the other siblings' legal advisor, contending that the sale would be a breach of trust and contravene court orders.

The letter emphasizes that the co-trustees, including Jeanie, Janie, and Joey Buss, must adhere to the minimum 15% ownership requirement to maintain Jeanie as the Controlling Owner. The Buss legacy with the Lakers dates back to 1979 when Jerry Buss purchased the team, and under Jeanie's leadership, the franchise has won 11 titles, cementing its status as the premier brand in basketball.

Despite the success, Jeanie's role as team governor has been a point of contention. Following Jerry Buss's passing, Jeanie assumed the role of team governor, while Jimmy handled the basketball operations, with Joey and Jesse contributing significantly to the front office. However, tensions arose as Jimmy was eventually removed from his position by Jeanie.

The Buss family's significant financial stake in the Lakers prompted an early sale to Mark Walters for $10 million. Post-sale, Joey and Jesse were removed from their positions as the front office was restructured. Jeanie, however, remained on the team for five years under a Walter contract, actively involved in the Lakers' business.

The recent news of Walter selling the team for a record $12.5 billion to Bob Iger and Josh Kushner, who need to source their funding, has sparked this current conflict among the Buss siblings.