Buss siblings file opposition to Jeanies attempt | College News
The 5 Buss siblings who voted to promote the household’s shares of the Lakers filed their formal opposition to group governor Jeanie Buss’ makes an attempt to block the sale on Wednesday, calling Jeanie’s petition “legally and factually baseless” in a assertion offered to The Times.
“While discussions among the siblings continue, their focus remains on facilitating the proposed transaction and the Trust’s participation in it, while ensuring that all beneficiaries, including Jeanie, are treated equally,” Jimmy, Johnny, Janie, Joey and Jesse Buss said in the assertion.
“Today’s filing is a necessary step to protect those interests and ensure the transaction proceeds on schedule.”
The 5 siblings voted in August to embody the household’s 17.82% of the group in the sale from Dodgers controlling proprietor Mark Walter to Joshua Kushner and Bob Iger. Jeanie immediately opposed her siblings’ vote, saying that the transaction would breach the household trust that states she and her co-trustees Janie and Joey must take moderately accessible actions to preserve Jeanie’s position as the controlling governor of the group “on an annual basis during [her] lifetime.”
If the Buss Family Trust sells its remaining shares, Jeanie could be ineligible to serve on the board of governors because the NBA requires governors to own at least 15% of a franchise. Although the Buss household ended its more than 40 years of majority possession of the group in 2025 by promoting to Walter at a then-record $10-billion valuation, Jeanie was to stay the controlling governor for at least 5 years.
Jeanie and her attorneys filed a petition in L.A. Superior Court about two weeks after her siblings’ vote in which she argued their plan was void.
The siblings’ formal opposition claims Jeanie is trying to stop the sale “in order to protect her own personal interests” and her actions “constitute a breach of her fiduciary duties as a trustee.” The siblings imagine that with 5 votes to promote, they’ve the appropriate to proceed with their plan to promote the shares and distribute the proceeds because they’ve a two-thirds majority of the dwelling youngsters, as outlined in the trust.
With the latest sale from Walter to Kushner and Iger valued at $12.5 billion, a 17.82% share could be price roughly $2.2 billion for the Buss siblings.
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