Buss Family Dispute Complicates Lakers Sale to Kushner and Iger
The ongoing saga surrounding the sale of the Los Angeles Lakers has intensified as five of the Buss siblings voted to sell their remaining 17.8 percent stake in the team to billionaire Joshua Kushner and former Disney CEO Bob Iger, valuing the franchise at $12.5 billion. However, Jeanie Buss, the last family member actively involved with the team, has contested this decision, citing a 2017 court order that mandates her co-trustees to protect her status as the controlling owner.
Legal experts have weighed in on the situation, noting the complexities arising from conflicting agreements within the family trust and the implications of the recent sale to Mark Walter. The original trust requires a majority of beneficiaries to agree on any sale, while the court order emphasizes Jeanie's controlling ownership. Some experts believe her consent is necessary for the sale to proceed, while others argue that the siblings may have a valid case based on the trust's terms.
If the dispute escalates without resolution, it could lead to a lengthy court battle. Experts suggest that Jeanie may need to seek a preliminary injunction to halt the sale process. Meanwhile, sources indicate that the current owner, Mark Walter, does not foresee the family disagreement jeopardizing the sale to Kushner and Iger, which still requires approval from the NBA's Board of Governors.
