There is currently some drama going on with the Buss family as reports came out on Monday that they will be selling their minority 17.8% stake in the Los Angeles Lakers to new owners Bob Iger and Josh Kushner.
Shortly after that report came out though, Jeanie Buss’ lawyer released a statement saying that decision could not be made without her approval and that she will be voiding the sale.
Now, the other five Buss siblings Jim, Johnny, Janie, Joey and Jesse have released their own statement maintaining their desire to sell their remaining shares, per Shams Charania of ESPN:
The Los Angeles Lakers have never been just a basketball team. They have been one of the greatest privileges of our lives.
Our focus has always been on what we believe is best for the Lakers, the fans who have supported this franchise for generations and the greater Los Angeles community.
Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family’s remaining stake, and we remain united in that decision. We intend to move forward thoughtfully, respectfully and through the appropriate process.
We have tremendous respect for Bob Iger and Josh Kushner and believe they understand what the Lakers represent to Los Angeles and our incredibly loyal fan base. We are confident they will honor everything this franchise stands for while building upon the foundation our father created.
With Jeanie seemingly at odds with her other five siblings, this doesn’t feel like an issue that is gonna get resolved swiftly. Jeanie claims to have legal documents stating she has final say in any Lakers sale as one of the three trustees, but the other five siblings will continue with their pursuit of selling their remaining shares in the team so they can move on.
Considering Jeanie has fired three of her siblings from the organization over the last decade, it is understandable why they no longer want to be minority owners. On the other hand, if the Buss family does sell that remaining 17.5% then Jeanie can’t continue as governor of the team, so it also makes sense that she is fighting this decision by her family.
Buss family embarrassed at how quickly Mark Walter sold Lakers
Part of the season the Buss family wants to get out now is because Mark Walter choosing to sell so quickly reportedly embarrassed them.
After owning the team for almost 50 years, they did not expect it to get flipped this quickly.
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