16 hours ago
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Jeanie Buss has stepped up the legal battle with her siblings over ownership of the Los Angeles Lakers.
The six kids of the late former owner Jerry Buss are feuding over selling their remaining 17.8% stakes in the team, after Joshua Kushner and Bob Iger agreed a takeover with Mark Walter for his majority share, valuing the franchise at $12.5 billion.
Jeanie, the only member of the family still part of the Lakers in the title of team governor, is challenging a vote by her other five siblings to sell their remaining shares to Kushner and Iger.
She has now filed a petition in Los Angeles Superior Court trying to block their attempted sale of their minority ownership stake.
In court documents seen by the Daily Mail, Jeanie Buss called her siblings 'devious' for their behavior and said she was 'blinded' by the attempted sale.
She claimed a family statement provided to ESPN last week was 'knowingly false', stating that she 'never agreed to any sale, was never consulted, and was never even informed.'
Jeanie Buss is taking legal action trying to stop her siblings from selling their Lakers stake
Buss has been in charge of the Lakers since the death of their father, Jerry, in 2013
The latest petition includes five orders. It is attempting to surcharge and remove Joey and Janie as co-trustees for breach of fiduciary duty, while holding both in contempt of court.
It also wants James, Johnny and Jesse to be held in contempt and liable for aiding and abetting, as well as instructing trustees to comply with the 2017 court order and declaring purported trustee resolution void.
The petition states a court hearing is scheduled for November 5.
The initial statement provided by the Buss family on August 17 read: 'We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction.
'We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.'
The five siblings later doubled down and told ESPN they 'remain united' after Jeanie launched a legal challenge against their 5-1 vote.
'The Los Angeles Lakers have never been just a basketball team. They have been one of the greatest privileges of our lives,' they said.
'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.
'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.'
Buss is the only sibling who did not vote to sell their remaining 17.8% stake in the franchise
Joshua Kushner and Bob Iger have agreed to buy Mark Walter's majority stake in a huge deal
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NBA rules state any team governor must hold at least a 15% stake, meaning Jeanie Buss would lose her status if the sale is finalized.
She is contending that her approval is needed, citing a 2017 court ruling that no sale could be 'effectuated without approval by the co-trustees, i.e. Jeanie, Janie and Joey Buss.'
Her lawyer, Adam Streisand, demanded last week that her siblings 'make clear publicly that Jeanie Buss is the Controlling Owner of the Los Angeles Lakers' and 'take no action on this supposed 'vote' to sell the 17.8% stake.'
