Five Buss siblings have formally filed legal opposition against sister Jeanie Buss regarding the sale of the family's remaining Lakers shares. Jimmy, Johnny, Janie, Joey, and Jesse Buss filed the case to ensure the proposed transaction proceeds on schedule. The siblings argue Jeanie's petition is legally baseless and conflict with her fiduciary obligations to trust beneficiaries.
The dispute stems from August's challenge by Jeanie's lawyer Adam Streisand to block the $12.5 billion sale to Josh Kushner and Bob Iger's ownership group. The siblings' 36-page response rebuts Streisand's arguments, specifically a 2017 court order regarding controlling ownership. The filing highlights the $2.2 billion the trust stands to earn through the tag-along provision.
It also references Jeanie's side agreement with former owner Mark Walter, which arranged for her to remain director and controlling owner for five years. The siblings contend Jeanie is prioritizing her personal position over the trust's interests. A court hearing, originally scheduled for Nov. 5 and postponed to Dec. 8, will address the ongoing legal battle over the franchise's future ownership.
Source: ESPN NBA · Summarized by HeadlinesBriefing