Jeanie Buss is staring down a family fight that just got even more public.
Her five siblings - Jim, Johnny, Janie, Joey and Jesse Buss - issued a joint statement through ESPN’s Shams Charania on Friday, and the message was unmistakable: they are still united behind selling the family’s remaining 17.8% stake in the Lakers. That comes after Jeanie Buss’ attorney said she plans to challenge the move.
The siblings framed their position as one rooted in the franchise itself. “The Los Angeles Lakers have never been just a basketball team. They have been one of the greatest privileges of our lives.”
They also said their thinking has been centered on what they believe serves the organization and its supporters. “Our focus has always been on what we believe is best for the Lakers, the fans who have supported this franchise for generations and the greater Los Angeles community.”
And they made clear there’s no split on their end. “Johnny, Jimmy, Janie, Joey and Jesse have made the decision to sell the family’s remaining stake, and we remain united in that decision. We intend to move forward thoughtfully, respectfully and through the appropriate process.”
The statement also offered support for the incoming buyers. “We have tremendous respect for Bob Iger and Josh Kushner and believe they understand what the Lakers represent to Los Angeles and our incredibly loyal fan base.”
The siblings added that they believe the franchise will be in good hands. “We are confident they will honor everything this franchise stands for while building upon the foundation our father created.”
The backdrop here is the recent majority sale. Mark Walter agreed to sell controlling interest to Bob Iger and Josh Kushner at a $12.5 billion valuation. The Buss family kept 17.8% after an earlier deal with Walter, and the five siblings want to invoke a tag-along provision so they can sell at that same valuation.
Jeanie Buss is opposing that push. Her attorney says a 2017 court order gives her approval power as a co-trustee. Selling the stake would also drop her below the 15% threshold needed to remain the controlling owner and governor.
The Lakers have been controlled by the Buss family since Jerry Buss bought the team in 1979, and this latest statement shows the other siblings are dug in. The legal process will determine what happens next.
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