Jeanie Buss Seeks Court Order to Halt Siblings' Proposed Lakers Stake Sale
Los Angeles Lakers governor Jeanie Buss filed a petition in Los Angeles Superior Court to block her five siblings from selling the family’s remaining 17.8% stake, alleging breach of fiduciary duty and contempt of a 2017 court order.
Jeanie Buss, the governor of the Los Angeles Lakers, asked a Los Angeles Superior Court judge to prevent her five siblings from selling the family’s remaining 17.8% ownership stake in the franchise. In a 97-page filing processed on Wednesday, Buss described the siblings’ actions as “devious” and sought to have co-trustees Joey and Janie Buss removed for alleged breach of fiduciary duty. The petition cites a 2017 court order that requires trustees to take steps to ensure Buss remains the controlling owner, a requirement tied to NBA rules that mandate a team governor hold at least 15% of the team.
“Jeanie never agreed to any sale, was never consulted, and was never even informed,” the filing states.
Buss’s request includes five causes of action, ranging from declaring a recent resolution to sell the trust’s shares void to holding the siblings liable for damages and contempt of court. She argues that the resolution signed by Joey and Janie Buss violates the terms of the family trust, which she says obligates her to retain control of the team. The filing also accuses other siblings—Jim, Johnny and Jesse Buss—of aiding the alleged violations.
The petition notes that other Lakers owners have expressed support for Buss remaining the controlling owner and intend to retain their stakes. A hearing on the matter is set for Nov. 5. The dispute follows earlier revelations that Mark Walter plans to sell the Lakers to Joshua Kushner and Bob Iger for $12.5 billion, a transaction that requires Buss to stay as governor for at least four more years.
Buss’s attorney, Adam Streisand, said the proposed sale of the family stake “does not make financial sense given the team’s continuously skyrocketing value” and emphasized her client’s intent to preserve her father Jerry Buss’s legacy. The filing also references prior family conflicts, including the 2017 removal of Jim Buss from an executive role and the recent dismissal of Joey and Jesse Buss from front-office positions.
The case adds another chapter to the long-running Buss family feud over control of one of the NBA’s most valuable franchises.