The Buss family feud over the Los Angeles Lakers is officially blowing up in court, again. Jeanie Buss just fired off a petition to the Los Angeles Superior Court, aiming to block her five siblings from offloading their 17.8% chunk of the Lakers. She’s not just playing defense either, she’s claiming this whole thing is a scheme to shove her out of her spot as team governor. This is a knockdown, drag-out brawl for control, and it’s headed for a court hearing on November 5.
The $12.5 Billion Stakes and the Tag-Along Trouble
Her five siblings , Johnny, Jim, Janie, Joey, and Jesse , are aiming to sell their stake to Josh Kushner and Bob Iger. This move follows reports that majority owner Mark Walter, who bought his shares from the Busses last year, was also selling to the same pair, valuing the team at a mind-boggling $12.5 billion. The siblings voted to trigger a “tag-along” clause for their share, but Jeanie’s lawyer instantly called their vote “void.” Her 97-page petition is brutal, laying out five demands. She wants the court to instruct co-trustees Joey and Janie to honor the 2017 order securing her as “Controlling Owner.” She aims to declare their sale resolution invalid, remove Joey and Janie as co-trustees for “a breach of trust,” and hold them liable for “loss and damage” to the family trust. Plus, she’s pushing to hold those co-trustees in contempt of court and hold Jim, Johnny, and Jesse responsible for “aiding and abetting” the alleged 2017 order violation. This isn’t just a petition; it’s a full-on legal war!
Governorship, Family Drama, and the Infamous Trust
Jeanie’s legal team is arguing that selling this stake makes zero financial sense. Why? Because the team’s value is “continuously skyrocketing,” and she’s convinced it will keep climbing under Kushner and Iger. But there’s an even bigger personal stake for Jeanie: NBA rules demand she hold at least a 15% stake in the Lakers to remain team governor. She was set to keep that role for four more years under Kushner and Iger, a deal carried over from her agreement with Walter. If even one-sixth of the Buss family’s remaining stake gets sold, she dips below that 15% threshold. This whole mess is just the latest chapter in a wild, cinematic family feud that’s been cooking since patriarch Jerry Buss passed in 2013. We saw a similar showdown in 2017 when Jeanie fired Jim from his role as head of basketball operations. Johnny then tried to challenge her control, but a court sided with Jeanie, reaffirming her co-trustees had to keep her as controlling owner. Oh, and last year, Jeanie also canned Joey and Jesse from their front office gigs. Turns out, Jerry Buss’s trust, with its “last man standing” provision that transfers funds to remaining siblings instead of their own families, basically invited all this drama. It’s pushing them to sell before they die to pass wealth to their own kids. What a mess.
The court hearing is set for November 5. This one could get even uglier for the Buss family, and the stakes for Jeanie Buss’s control of the Lakers couldn’t be higher. We’ll be watching this drama unfold, because when billions are on the line, things always get interesting.
This article was created with AI assistance and published under Seattle On Tap’s editorial standards. See our Editorial Policy.
Originally reported by Yahoo Sports.
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