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Jeanie Buss Seeks To Remove Siblings As Co-Trustees In Lakers' Dispute

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Los Angeles Lakers controlling owner Jeanie Buss filed a petition on Wednesday in Los Angeles Superior Court challenging the legality of her five siblings' vote to sell the family's remaining shares in the franchise. The filing argues it is in the trust's best interest to retain a stake in the team given its rising valuation.

Buss is also seeking to remove siblings Janie and Joey as co-trustees of the family trust, alleging they breached their fiduciary duty. The petition notes that Lakers minority owners Patrick Soon-Shiong and Ed Roski have joined Buss in supporting the decision to retain a stake in the franchise.

The dispute stems from a vote by five siblings, Johnny, Jim, Janie, Joey and Jesse, to exercise tag-along rights and join majority owner Mark Walter's sale of the team to Josh Kushner and Bob Iger at a $12.5 billion valuation. Buss' attorney, Adam Streisand, argues the siblings needed only four of six family votes and two of three co-trustee votes to approve such a sale under the trust's terms.

Streisand characterized the vote as "devious behavior" in both a letter sent last week and Wednesday's court filing, alleging it was "orchestrated as part of a calculated effort to create a public fait accompli before Jeanie could respond."

The filing states that Joey Buss signed the resolution to sell one day before Walter's agreement with Kushner and Iger was publicly reported, and contends that Walter has not yet formally notified the trust of the sale agreement, meaning tag-along rights are not yet applicable.

Wednesday's filing referenced a 2017 court order that previously resolved a separate dispute involving older brothers Johnny and Jim Buss attempting to remove Jeanie from her role overseeing the family trust's board. That order named Joey and Janie as co-trustees alongside Jeanie and directed them to vote in a manner ensuring she remained the Lakers' controlling owner.

"Janie and Joey have now brazenly, knowingly and intentionally violated the 2017 Order by secretly signing a purported resolution, void on its face, to sell a portion of the Lakers," the filing alleges.

The petition also disputes public statements attributed to the five siblings regarding a unified family decision to sell, claiming Buss was not consulted or informed before the statement was issued. The five siblings had previously reaffirmed their intent to proceed with the sale in a statement provided to ESPN, describing themselves as "united in that decision" and committed to moving forward "thoughtfully, respectfully and through the appropriate process."

Wednesday's filing further disputes a separate report claiming a Lakers executive called an emergency meeting among the siblings, stating no such meeting occurred.

"In truth there was no emergency meeting, indeed, there was no meeting at all," the filing contends. "Any suggestion that Jeanie concealed details about the potential Walter sale is false."

"Jeanie thought she had put all of her siblings' scheming and manipulations behind her in 2017," the filing adds. "Sadly, that was not the case -- and Jeanie must respectfully request relief from this Court a second time."

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