There is a lot of drama surrounding the Los Angeles Lakers at the top of the organization. This is primarily because of the Buss siblings as five of the six want to sell their remaining shares of the franchise to new majority owners Bob Iger and Josh Kushner, but Jeanie Buss is contesting that as losing those shares would force her out of her role as Lakers governor.
There will need to be some sort of resolution, ideally in a timely manner, as training camp and the start of the regular season isn’t that far away. But one person who could reportedly try and help the Buss family come to sort of agreement is NBA Commissioner Adam Silver, via Tom Friend of the Sports Business Journal:
The Lakers’ situation isn’t as clear cut, with sources believing Commissioner Adam Silver — who has always been close with Jeanie Buss — will try to help smooth over the Buss family chaos.
Hopefully, Silver can serve as a mediator of sorts and help this come to a conclusion as this could turn into a legal battle between the Buss siblings that could stretch out for a long time. There are many different issues at play including the belief that all three co-trustees, Jeanie, Janie and Joey Buss, must all consent to the sale which, obviously, Jeanie does not.
There is also the 2017 court order that instructs that the Buss siblings must not take actions that would result in Jeanie losing her stake as controlling owner. Because NBA rules require a 15% ownership stake in order for anyone to operate as team governor, the Buss family selling their remaining shares would push Jeanie out.
Jeanie is also the only Buss sibling who still has a position with the Lakers now so what she wants is very different from the rest of her siblings. With the valuation of the Lakers jumping up to $12.5 billion, it makes sense that they would want to cash out while they can, and the sale from Walter to Iger and Kushner did include a provision that would allow them to sell their shares as well. Hopefully, Silver and anyone else capable can come in and help this drama come to a reasonable conclusion so the focus of the Lakers can be back on the court.
Robert Horry would feel ‘sad’ not having Buss family as part of the Lakers
The Buss family has owned the Lakers since Dr. Jerry Buss bought the team in 1989, building so many amazing relationships and creating an immeasurable number of memories along the way. The thought of them not being part of the Lakers is something that doesn’t sit well with former player Robert Horry.
Have you subscribed to our YouTube channel? It’s the best way to watch player interviews, exclusive coverage from events, participate in live shows, and more!
