Buss Siblings Fight Over Los Angeles Lakers Stake Sale

Joey and Janie Buss filed a 29-page document in the Los Angeles Superior Court opposing a petition by their sister, Jeanie Buss, to remove them as co-trustees of the family trust. The legal battle centers on the proposed sale of the family's remaining 17.82% stake in the Los Angeles Lakers to an ownership group led by Josh Kushner and Bob Iger, which values the team at $12.5 billion.

Jeanie Buss, the acting governor of the Lakers, seeks to block the transaction and has accused her siblings of contempt. In response, Joey and Janie argue that a 5-1 sibling vote to sell the stake satisfied the trust's two-thirds majority requirement. They contend that the sale maximizes value for all beneficiaries and that Jeanie's efforts to remain the controlling owner violate the rights of those beneficiaries.

The dispute follows a previous transaction involving majority owner Mark Landsberger, which established the tagalong and put rights the siblings are now utilizing. The sale is expected to move forward pending a vote by the NBA board of governors in November.