Buss trying to block siblings' sale of LA Lakers

Lakers' governor Jeanie Buss is attempting to prevent her siblings from selling a portion of the family's remaining stake in the NBA franchise, worth $12.5bn (£9.3bn). The Lakers' controlling interest is set to change hands to Josh Kushner and former Disney CEO Bob Iger for $12.5bn (£9.3bn). This deal was reached last week, following Mark Walter's purchase of his share from the Buss family last year for around $10bn (£7.5bn).

Walter had secured the remaining stake from the Buss family in 2014, ensuring Jeanie's role as governor until 2030. The family, who have been Lakers owners since 1979, announced on Monday that they would sell their 17.8% stake to the Iger group as part of the ongoing transaction. They expressed their commitment to supporting the Lakers and Los Angeles fans but felt it was the right time to move on.

However, Jeanie's lawyer has filed a letter stating that any vote for the sale would be void because her approval, along with her siblings Joey and Janie's, is required for such a move. If her siblings proceed with the sale, she considers it a breach of trust and fiduciary duty. In a counter-statement, Jeanie's siblings, Johnny, Jimmy, Janie, Joey, and Jesse, vowed to move forward with the decision thoughtfully and respectfully, adhering to the proper process.