sports
Jeanie Buss reportedly attempting to halt her siblings’ attempt to sell remaining stake in Lakers
Family were set to sell stake to Bob Iger and Josh Jushner
TL;DR
- Jeanie Buss is reportedly attempting to halt her siblings' sale of their remaining stake in the Los Angeles Lakers.
- The sale was intended for Bob Iger and Josh Kushner.
- The challenge is based on legal grounds, specifically Jeanie Buss's status as the controlling owner, which requires a minimum 15% ownership according to NBA guidelines.
- A previous sale of the franchise to Mark Walter included an agreement for Jeanie Buss to remain governor through 2030.
- Walter then sold the Lakers to Iger and Kushner for a record $12.5 billion, a sale pending NBA approval.
- A lawyer's letter argues that any sale requires approval from co-trustees, including Jeanie Buss, and attempting otherwise would be a breach of trust and contempt of court.
- Mark Walter, the previous owner, is under federal investigation for alleged tax fraud.