The Buss family’s dynamics just became more complicated.
On Friday, five Buss siblings submitted a 29-page document concerning their sister, Jeanie Buss, who is currently the acting governor of the Los Angeles Lakers, to the Los Angeles Superior Court, as reported by ESPN’s Dave McMenamin.
This filing was made on behalf of Joey and Janie Buss, challenging their sister’s earlier request to remove them as co-trustees.
If Jeanie were to succeed in her petition, it would negate the siblings’ 5-1 vote in favor of selling the family’s remaining shares in the team.
Jeanie has played a significant role in stalling the Buss family’s sale of the Lakers.
To hold the NBA Governorship, one must possess at least a 15% ownership stake. If the Buss family were to sell their remaining 17.8% interest, it would effectively disqualify her from that position.
The majority ownership group, previously led by Mark Walter, shocked many when they sold the Lakers to new majority owners, businessman Josh Kushner and former Walt Disney CEO Bob Iger, back in August.
This new filing disputes Jeanie’s authority to unilaterally determine the future of the family’s stake in the Lakers.
Instead, it emphasizes that any proposed sale should necessitate a two-thirds majority vote from all the siblings. Notably, Jeanie was the only one among the six siblings to vote against the sale during the initial vote.
Additionally, the filing contains various claims, asserting that the Buss siblings used voting rights that were specifically granted to them as beneficiaries, which they argue should not be interpreted as contempt or as enabling a breach of fiduciary duty.
The rift between Jeanie and her siblings is well-documented, but this latest development adds yet another layer to the already strained family situation.
