Buss trying to block her siblings’ sale of family stake in Lakers

Los Angeles Lakers governor Jeanie Buss is moving to block her siblings from selling the family's remaining 17.8% stake in the NBA franchise as part of a $12.5bn takeover deal. Josh Kushner (brother of Jared Kushner) and former Disney boss Bob Iger agreed last week to buy the controlling interest from current owner Mark Walter, but Jeanie's lawyer argues her five siblings cannot approve the sale of the trust's remaining shares without her consent, since it would jeopardise her position as controlling owner.

Walter bought his stake from the Buss family last year for around $10bn, a deal that guaranteed Jeanie would remain governor until 2030. Her lawyer, Adam Streisand, says any sibling vote to offload the remaining shares is void because Jeanie is one of three co-trustees, alongside Joey and Janie Buss, whose approval is required to maintain the 15% ownership threshold underpinning her controlling status. Her other siblings, Johnny, Jimmy, Janie, Joey and Jesse, say they remain united behind the sale and intend to proceed "thoughtfully" and "through the appropriate process". The Buss family has owned the Lakers since 1979, when Jerry Buss bought the club for $67.5m; if the new sale is approved by the NBA's board of governors next month, it would be the most expensive sports team sale on record.