Jeanie Buss blocks Lakers stake sale to Iger and Kushner, citing controlling ownership
TL;DR
Jeanie Buss opposes selling her family's 17.8% stake in the Los Angeles Lakers to Bob Iger and Joshua Kushner, stating she remains the controlling owner per a 2017 court order and any sale requires consent of the co-trustees. The letter argues that a sale would breach fiduciary duties if the co-trustees vote otherwise, and notes the deal would have given Iger and Kushner about 83% overall ownership after purchasing Mark Walter’s stake; Buss says she wants to hold the stake for value and to maintain her governor role as the matter unfolds.
- Lakers controlling owner Jeanie Buss opposes sale of family's stake to Bob Iger, Joshua Kushner CNBC
- Sources: Jeanie out as Buss family sells last stake in Lakers ESPN
- Lakers’ Buss family intends to sell, removing Jeanie Buss from governor role: Sources - The Athletic The New York Times
- Kushner’s Lakers Deal Isn’t a Hedge. It’s Another Bet on AI sportico.com
- Buss Family Sells Lakers Stake to Bob Iger, Josh Kushner After Record Mark Walter Deal Bleacher Report
Want the full story? Read the original reporting
Read on CNBC