The Buss Family Trust just agreed to sell its remaining nearly 18% of the Lakers to Bob Iger and Josh Kushner, delivering a truly wild, surprising final twist in the family’s ownership of the team. You couldn’t script this kind of drama, seriously, it’s straight out of a Succession episode.
The “Emergency Meeting” That Blew Up In Her Face
Turns out, burning bridges with all your siblings really does come back to haunt you. Jeanie Buss found that out the hard way. Last week, an emergency meeting of the siblings was called. According to Dave McMenamin of ESPN, Jeanie tried one last power play during that Tuesday meeting. And here’s the kicker: sources told ESPN there was *no mention* of a pending sale between Mark Walter and Bob Iger/Josh Kushner in that meeting. The very next day, Wednesday, Walter’s agreement to sell the team was reported. Talk about a blindside! Jeanie must’ve been absolutely floored when that news dropped.
The Tag-Along Clause: Siblings’ Ultimate Payback
This whole situation is pure gold. Jeanie thought she had the final say. She’d sided with Mark Walter on the sale, securing her spot as team governor for at least five years, an agreement Bob Iger reportedly intended to honor. She even fired the last members of her family from the team over the last year. But here’s where the plot thickens: her fraught history with her siblings came back to bite her. The reason for that emergency meeting? The other Buss siblings had executed a tag-along clause! This allows minority owners to join the sale if a majority owner sells. The siblings sent Jeanie signatures stating they wanted the family to sell its shares. They saw their chance to not only pocket another couple hundred million dollars, but also to force Jeanie out as governor in the process. It’s a brutal move, but it was apparently well-earned given Jeanie’s past actions. And for context, Walter reportedly had his own issues with the federal government that may have prompted the sale in the first place, setting all these dominoes in motion.
What a ride. Bob Iger and Josh Kushner are officially in as part owners, and the Buss family drama has taken its most shocking turn yet. Jeanie Buss, out as governor? That’s the kind of story that changes everything about a franchise’s vibe, even if it’s just in the ownership box. You gotta wonder how this plays out on the court and in the front office with Jeanie on the outside looking in.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Silver Screen and Roll.
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