Sports
Five Buss siblings file opposition in Lakers stake-sale dispute
The filing answers Jeanie Buss’ effort to block the family trust’s proposed sale of its remaining Lakers shares.
Five Buss siblings filed a 36-page response Wednesday opposing Jeanie Buss’ petition challenging the proposed sale of the family trust’s remaining ownership stake in the Los Angeles Lakers, ESPN reported.
Filing: Formal opposition submitted by Jimmy, Johnny, Janie, Joey and Jesse Buss
Stake: The family trust’s remaining 17.82% Lakers interest
Disputed transaction: Proposed sale to the Josh Kushner and Bob Iger ownership group
Next hearing: December 8
What each side argues
The five siblings contend that beneficiaries may terminate the trust and sell its shares despite a 2017 court order naming Jeanie, Joey and Janie Buss as co-trustees. Their filing argues that the earlier order does not bar the action they now seek.
Jeanie Buss’ petition, filed through her attorney in August, disputes the legality of the siblings’ vote and seeks to prevent the sale. The new response contains the siblings’ legal arguments; the court has not resolved the dispute.
What is at stake
ESPN reported that the family trust could receive about $2.2 billion through a tag-along provision connected to the proposed transaction. The broader Lakers deal was reported at a $12.5 billion valuation and remains subject to NBA approval.
Original reporting: ESPN via ABC7 Los Angeles →