Lakers Sale Complicated by Jeanie Buss Spat With Siblings
A twist has emerged in the pending $12.5 billion sale of Mark Walter’s majority interest in the Los Angeles Lakers to Joshua Kushner and Bob Iger, as minority but controlling owner Jeanie Buss has no intention of selling her family’s stake or relinquishing her leadership role. It’s a twist that could spark litigation unless the parties can […]
The sale of the Los Angeles Lakers is facing complications due to a dispute within the Buss family. Mark Walter's majority interest in the team is being sold to Joshua Kushner and Bob Iger for $12.5 billion. According to Sportico, Jeanie Buss, the minority but controlling owner, has stated she has no intention of selling her family's stake or relinquishing her leadership role.
The Buss family's minority stake was reportedly agreed to be sold to the new owners, with Yahoo Sports stating it to be 17.8 percent. However, Jeanie Buss's attorney has written a letter saying the Buss family's share cannot be sold without her consent. This development may spark litigation unless the parties can reach an agreement. As a result, Jeanie Buss may be able to remain as Governor of the team, as she currently owns more than 15 percent of the franchise.
The dispute has created uncertainty over the future ownership and leadership of the Lakers. According to Variety, Jeanie Buss is contesting the plan approved by her siblings to sell the family's remaining stake to Iger and Kushner. Forbes also reports that Jeanie Buss's lawyer has contested the Buss family's attempts to sell its minority ownership shares.
Brief written by urgent.news from Sportico, Yahoo Sports, Variety, Forbes — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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