Jeanie Buss is back in Los Angeles Superior Court, filing a petition this week to block her five siblings from selling their remaining 17.82% share of the Lakers. This isn't the first time the family has found itself in court over the team. The move reopens a long-running family disagreement over control of the NBA franchise, which her father, Jerry Buss, purchased in 1979.
According to the 97-page petition, Jeanie Buss contends her siblings — Janie, Joey, Jim, Johnny, and Jesse — should abide by a 2017 court order. That order stipulated that the family’s co-trustees were to ensure Jeanie's continued appointment and role as the NBA controlling owner of the Lakers. The 2017 legal battle had previously installed younger siblings Janie and Joey as co-trustees, replacing older brothers Jim and Johnny.
The petition accuses her siblings of “devious behavior” for not including Jeanie in recent discussions to sell the family’s final stake in the team. While other siblings reportedly agreed to sell after Bob Iger and Joshua Kushner completed a transaction for a majority stake with Mark Walter earlier this month, the petition states that Jeanie was neither consulted nor informed about any sale, nor did she agree to one. Jeanie’s attorneys argue that she thought the “scheming and manipulations” of her siblings were behind her in 2017.
To maintain her position on the NBA board of governors, Jeanie Buss must own at least 15% of the team. Her petition suggests this latest legal action is not only to enforce her parents’ intent but also to protect the strategic decision made less than a year ago to retain an interest sufficient to maintain control and benefit from the team’s skyrocketing value. Minority owners Patrick Soon-Shiong and Ed Roski Jr. also believe Jeanie is the appropriate person to continue in her controlling owner and NBA governor roles, the petition adds.
Jerry Buss viewed the Lakers as a family business, having hand-picked Jeanie to oversee his prized investment. Yet, his six children have struggled to overcome their differences since his death. Jeanie is now the only Buss family member remaining with the organization; Jim and Johnny were ousted in 2017, and Janie, Joey, and Jesse were reportedly fired after Walter’s sale was approved.
Among its five points, the petition asks the court to declare her siblings’ votes to sell void, remove Janie and Joey as co-trustees for “breach of fiduciary duty,” and hold them and the other siblings in contempt of court. In response, the five siblings released a statement asserting they were “united” in their decision and intended to “move forward thoughtfully, respectfully and through appropriate process,” adding that their focus has always been on what they believe is best for the Lakers and its fans. A court hearing for the request is scheduled for November 5.
