Jeanie Buss asks court to halt sale of Lakers family stake

Jeanie Buss has asked a judge to block her siblings’ attempts to sell the family’s remaining shares in the Los Angeles Lakers, accusing them of a “cloak and dagger” campaign through the media. The dispute is set for a Dec. 8 hearing in Los Angeles Superior Court, according to ESPN.

In a filing made on Wednesday, Buss said her siblings, particularly Joey and Jesse Buss, were jealous of their father’s decision to leave her with governor rights to the team. She also asked the court to take action against family members over what she says is a violation of a 2017 court order.

Family stake and governor role

The Buss family’s remaining stake is 17.8%, just above the NBA’s 15% minimum for the family to retain control. Jeanie Buss would no longer serve as Lakers governor if the family sold that stake.

Former Disney CEO Bob Iger and Josh Kushner lead an ownership group seeking to buy the Lakers from Mark Walter at a valuation of $12.5 billion. Iger previously told The California Post that the plan was for Buss to remain governor, but added: “if things change, they’ll change.”

Buss has previously argued that a 2017 court order prevents a vote to sell the remaining family shares without her consent, ESPN reported earlier this year. Her representatives said the conflicts following her father’s 2013 death were intensified by his decision to choose her as his successor over his four sons.

Earlier dispute over control

The family has fought over control of the Lakers before. After Jeanie Buss fired Jim Buss as head of basketball operations in 2017, Jim and Johnny Buss tried to remove her from the team’s board of directors. The sides later settled, with Jeanie Buss remaining in control.

In the current case, Buss is asking the court to remove two siblings as co-trustees for breach of fiduciary duty and hold them in contempt of court. She also wants Jim, Johnny and Jesse found liable for aiding and abetting a violation of the 2017 order, and seeks reimbursement of legal costs, according to ESPN.

What happens next

The Dec. 8 hearing could bring a resolution to the legal dispute. ESPN reported this week that settlement talks have begun.

A sale of the family’s entire stake would bring each sibling an additional $371 million under go-along rights.