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Lakers governor Jeanie Buss says siblings cannot sell family’s stake to Bob Iger, Joshua Kushner
Los Angeles Lakers governor Jeanie Buss is opposing the potential sale of her family's stake in the NBA team, contradicting an earlier ESPN report about the family's decision to sell to Bob Iger and Joshua Kushner.
In a letter obtained by CNBC addressed to law firms representing Jeanie Buss's siblings â Jim, Johnny, Janie, Joey and Jesse â her lawyer Adam Streisand says Jeanie Buss has not agreed to sell the team and that any vote suggesting the Buss family is selling "would be and is void."
Streisand argues in the letter that Jeanie Buss remains the controlling shareholder of the Lakers, pursuant to a 2017 court order, and that no sale can take place without her consent.
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Fallout from the Lakers’ sale already reverberating throughout the organization
The Lakers sale saga is affecting all corners of the franchise. Mario Tama / Getty Images
There’s what’s good for Mark Walter, the loans and the credit he used to conquer Los Angeles’ pro sports empire coming due as quickly as the boundaries were built. For him, a quickie sale of the Los Angeles Lakers to Bob Iger and Josh Kushner for a record valuation of $12.5 billion made a bunch of sense.
There’s what’s good for the Buss siblings not in the team facility, a chance to fully wash clean of the family business that’s caused fractures and frustrations, while cashing out for the second time in a little more than a year. For them, the roles with the organization that defined their family name essentially ended a year ago when Walter bought the team, either formally or informally. It’s why they voted as a block to put their shares up for sale, something they informed Walter, Iger and Kushner of on Monday.
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