The Buss Los Angeles Lakers: From dynasty building under Jerry to a family feud with Jeanie and her siblings
For a moment Monday, the saga of the Buss Los Angeles Lakers appeared to have reached its conclusion. But Jeanie Buss made clear in a scathing letter addressing her siblings that it will carry on. Here's a look at how they got here.
The Buss family, once the driving force behind the Los Angeles Lakers, announced on Monday that it is divesting its remaining 17.8% stake in the franchise as part of a $12.5 billion sale to Bob Iger and Josh Kushner. The statement, released to ESPN’s Shams Charania, explained that the Buss Family Trust is selling its shares "as part of the ongoing transaction."
However, Jeanie Buss, the team's governor and the face of Lakers ownership since her father Jerry's death in 2013, does not agree with the reported sale. In a letter from her attorney, Adam Streisand, Jeanie stated that any sale of the Buss stake requires approval from her, and this particular sale does not have her approval. The letter obtained by multiple media outlets emphasized that "no sale of the JAB Trusts’s 17.8% ownership interest in the Los Angeles Lakers, Inc. can be effected without approval by the current co-trustees, i.e. Jeanie, Janie and Joey Buss."
This sale marks the end of an era for the Buss family and Lakers ownership. Jerry Buss, who built the franchise into one of the most successful in basketball history, sold the team to the Iger and Kushner group. The Buss' reign began in 1979 when he purchased the Lakers, Los Angeles Kings, and Forum from Jack Kent Cooke for $67.5 million.
Under his leadership, the Lakers won five NBA championships and became a global sports phenomenon. The family's ownership spanned nearly 50 years, seeing the Lakers go from their "Showtime" era to the dynasty years of Shaq and Kobe Bryant.
Written by urgent.news from Yahoo Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
