Jeanie Buss opposes Lakers stake sale 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.
Intelligence analysis by Llama
Jeanie Buss, the governor of the Los Angeles Lakers, is opposing the sale of her family's stake in the team to Bob Iger and Joshua Kushner. Her lawyer has sent a letter to law firms representing her siblings stating that any vote suggesting the Buss family is selling would be void.
Jeanie Buss, the governor of the Los Angeles Lakers, doesn't want to sell her family's stake in the team. She wants to keep it because it's valuable and she likes being in charge.
Analysis
Jeanie Buss's Opposition to the Sale
Jeanie Buss, the governor of the Los Angeles Lakers, is opposing the potential sale of her family's stake in the team. This move contradicts an earlier ESPN report that stated the Buss family had decided to sell its stake to Bob Iger and Joshua Kushner. In a letter obtained by CNBC, Buss's lawyer, Adam Streisand, states that Jeanie Buss has not agreed to sell the team and that any vote suggesting the Buss family is selling would be void.
The 2017 Court Order
The letter also references a 2017 court order that states Jeanie Buss remains the controlling shareholder of the Lakers. This order requires the co-trustees, including Jeanie, Janie, and Joey Buss, to vote the Los Angeles Lakers, Inc. shares to ensure that the minimum 15% ownership requirement is maintained. This ensures that Jeanie Buss can remain the Controlling Owner.
Implications of the Sale
If the sale were to go through, it would mean that Bob Iger and Joshua Kushner would have an overall team ownership share of approximately 83%. This would give them significant control over the team's operations and decision-making. However, Jeanie Buss's opposition to the sale suggests that she wants to hold onto the team stake for value reasons as well as to maintain her role as governor.
Key points
- Jeanie Buss opposes the potential sale of her family's stake in the Los Angeles Lakers.
- A letter obtained by CNBC states that any vote suggesting the Buss family is selling would be void.
- The 2017 court order requires the co-trustees to vote the Los Angeles Lakers, Inc. shares to ensure that the minimum 15% ownership requirement is maintained.
- Jeanie Buss wants to hold onto the team stake for value reasons as well as to maintain her role as governor.
If Jeanie Buss's opposition to the sale holds, it could mean that the Buss family will maintain control over the team. This could lead to more stability and continuity in the team's operations.
If the sale were to go through, it could lead to significant changes in the team's operations and decision-making. This could be detrimental to the team's performance and fan experience.
