Jeanie Buss Fights to Preserve Lakers Ownership Stake Amid Family Feud
Jeanie Buss is determined to hold onto her ownership stake in the Los Angeles Lakers, despite her siblings agreeing to sell their shares to Bob Iger and Josh Kushner. She has filed a petition with the court to block the sale, accusing her siblings of trying to remove her as the team's governor. Jeanie is also calling for the removal of her co-trustees, Joey and Janie, for making this decision without her approval.
In her petition, Jeanie argues that selling their shares at this time does not make financial sense, considering the team's increasing value. She is committed to upholding her late father's legacy and creating value for fans and the Buss family. Jeanie believes that the stock value will only rise under the new ownership group and has the support of other Lakers stakeholders who intend to hold onto their shares.
Despite the family feud, Jeanie is determined to fight for her ownership stake and maintain her role as the team's governor. If necessary, she is willing to purchase enough shares on her own to retain a 15% ownership stake. The court date for this dispute is set for November, prolonging the uncertainty surrounding the Lakers' ownership structure as they aim to return to championship contention.
While the Buss family drama continues, it is unlikely to impact Mark Walter's majority sale of the team to Iger and Kushner. The ongoing legal battle adds a layer of complexity to the Lakers' ownership situation, but Jeanie remains steadfast in her determination to preserve her role within the organization.