Buss siblings formally oppose Jeanie Buss' effort to block Lakers share sale

Five of the Buss children—Jimmy, Johnny, Janie, Joey and Jesse—have lodged a formal objection to Jeanie Buss' legal move to halt the sale of the family’s 17.82% stake in the Los Angeles Lakers. In a statement, they described Jeanie’s petition as both legally and factually unfounded and said the filing is essential to safeguard the interests of all trust beneficiaries. The siblings had previously voted in August to allow the shares to be part of a transaction that would transfer ownership from Mark Walter to Joshua Kushner and Bob Iger.

Jeanie argues the deal would violate the terms of the Buss Family Trust, which requires her to maintain a controlling governor position, and could disqualify her from the NBA board because governors must own at least 15% of a franchise. The siblings maintain that, with five votes, they meet the two-thirds majority needed under the trust to proceed and distribute the proceeds, estimated at roughly $2.2 billion.