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Buss Family

All articles tagged with #buss family

business1 day ago•6 min saved

Lakers Stake Dispute Highlights Estate-Planning Lessons for the Wealthy

Jeanie Buss has sought to block a sale of the family’s Lakers stake as five of six siblings push to monetize the share held in a trust that uses a 'last man standing' provision. The dispute underscores how such clauses can strain family relationships and complicate succession in multigenerational enterprises. Lawyers suggest smoothing transitions with strategies like using life insurance to compensate heirs, consolidating control under a single trustee or a pot trust with independent oversight, and rethinking who governs a family business. The case also foreshadows broader tensions as a large wealth transfer accelerates across generations.

via CNBC|

#business #buss-family #estate-planning

business2 days ago•17 min saved

Jeanie Buss Seeks Court Halt on Family Lakers Sale

Jeanie Buss has filed a petition in Los Angeles Superior Court to block the sale of the Buss family’s remaining 17.8% Lakers stake by siblings Joey and Janie Buss, seeks removal of them as co-trustees, and accuses them of defying fiduciary duties and a 2017 order; a hearing is set for November 15 as Iger and Kushner move forward with their Lakers purchase.

via Deadline|

#business #buss-family #court-filing

sports2 days ago•11 min saved

Jeanie Buss moves to block Lakers stake sale amid family trust feud

Jeanie Buss filed in LA Superior Court to block her siblings from selling the Lakers’ remaining stake (about 17.8%) and to remove the co-trustees for breach of fiduciary duty, arguing they acted without her knowledge and in violation of a 2017 order that named her Controlling Owner. The petition seeks contempt and damages, notes the sale would undermine her control and the Lakers’ value, and sets a Nov. 5 hearing as the family feud over ownership continues amid broader sale talks with Iger/Kushner.

via The New York Times|

#buss-family #fiduciary-duty #jeanie-buss

business4 days ago•13 min saved

Lakers sale dispute highlights limits of family trusts

Jeanie Buss resists selling the Lakers' remaining stake as a $12.5 billion bid from a group including Bob Iger and Joshua Kushner faces sibling opposition, underscoring how even well-structured family trusts can fail to keep a prized asset in the family—the outcome will hinge on the trust’s terms and a 2017 court order, illustrating a broader pattern of ownership conflicts in sports franchises.

via The Conversation|

#business #buss-family #lakers

sports7 days ago•6 min saved

Lakers Legends Sound Off on Buss Family Ownership Rift

Lakers legends share candid, somber takes on the Buss family ownership dispute as Jeanie Buss fights to block the sale of the Lakers’ remaining stake amid a bid by Josh Kushner and Bob Iger. With billions at stake, the saga hints at a possible legal battle and a future without the Buss family, drawing reflections from Byron Scott, Robert Horry, Michael Cooper and Matt Barnes on the franchise’s Showtime-era identity and what comes next for the Lakers.

via New York Post|

#buss-family #jeanie-buss #lakers

business7 days ago•4 min saved

Shaq Sees Buss Family Lakers Exit as a Monumental Business Move

Shaquille O’Neal says he admires the Buss family’s decision to sell their Lakers shares to Bob Iger and Josh Kushner for $12.5 billion, calling it a monumental business move; Jeanie Buss may challenge the sale, potentially triggering a legal battle, while a path for her to stay governor could involve buying back a stake, and reporter Shams Charania stands by his coverage amid the dispute.

via Lakers Nation|

#bob-iger #business #buss-family

business8 days ago•1 min saved

Soon-Shiong Stays In Lakers Fold as Iger/Kushner Deal Unfolds Amid Buss Rift

Patrick Soon-Shiong, who holds 4% of the Lakers, says he will not sell his stake to Bob Iger and Joshua Kushner amid a ongoing Buss family dispute over a 17.8% stake. With Iger/Kushner purchasing the team at a $12.5 billion valuation, Soon-Shiong’s stake is worth roughly $500 million. The Buss siblings are divided on selling; Jeanie Buss would own about 3% if others sell, though NBA governance requires at least 15% to operate as a governor, a status the deal preserves for her through 2030. Soon-Shiong bought his share in 2010 from Magic Johnson.

via Bleacher Report|

#business #buss-family #iger

business9 days ago•12 min saved

Lakers Dynasty, Family Feud: The Buss Ownership Battle Heats Up

Jerry Buss bought the Lakers in 1979 and turned them into a Showtime dynasty, but his 2013 death unleashed a long-running family power struggle among his six children. Jeanie Buss emerged as the successor and governor, while siblings clashed, fired executives and pursued control through courts and trusts. The saga intensified as the family moved from internal battles to a broader sale: the majority stake was sold to Mark Walter in 2025, and in 2026 the remaining Buss Family Trust minority stake was set to be sold to Bob Iger and Joshua Kushner, a move that would remove Jeanie from the governor role and likely spur new lawsuits to resolve ownership and governance.

via latimes.com|

#business #buss-family #family-drama

business9 days ago•16 min saved

Lakers Ownership at a Crossroads as Buss Siblings Move to Cash Out

Decades of Buss family feuding over the Lakers reach a new peak as Mark Walter sells his stake to Bob Iger and Josh Kushner and the remaining Buss siblings approve a tag-along sale, threatening Jeanie Buss’s claim as Controlling Owner and potentially reshaping Lakers ownership for years to come; legal fights and trust provisions loom, with the 12.5 billion valuation highlighting the scale of the deal and possible ripple effects for the Dodgers should the sale stall or unwind.

via The Ringer|

#business #buss-family #iger-kushner-deal

sports-business9 days ago•7 min saved

Buss Family Rift Tests Lakers Governance as Iger/Kushner Deal Advances

Amid a Buss family feud over selling Lakers shares, Jeanie Buss fights to stay as team governor as siblings push the sale; the deal with Bob Iger and Joshua Kushner remains on track, with Jeanie’s governance supported by a 2017 court order and the 15% ownership rule, though a future court ruling could reshape who runs the franchise and the sale value remains at $12.5 billion.

via The New York Times|

#buss-family #iger-kushner #jeanie-buss

sports-business10 days ago•5 min saved

Buss Siblings push Lakers sale amid Jeanie’s clash over control

The Buss siblings (Jim, Johnny, Janie, Joey and Jesse) announced they intend to sell the family’s remaining Lakers stake to Bob Iger and Josh Kushner, part of a deal that would leave the buyers with a controlling majority of the franchise. Jeanie Buss, the Lakers’ controlling owner, disputed the sale in a lawyer’s letter, arguing the co-trustees must maintain her 15% ownership and that any vote to sell would be void. The situation sets up a legal and governance clash that still requires NBA Board of Governors approval and hinges on the ongoing deal with Iger and Kushner.

via New York Post|

#buss-family #jeanie-buss #lakers

business10 days ago•3 min saved

Jeanie Buss fights to keep Lakers stake amid family sale showdown

Jeanie Buss and her attorney pushed back on reports that the Buss siblings planned to sell the Lakers’ remaining 17.8% stake, arguing the sale cannot proceed without co-trustee approval and must preserve Jeanie’s controlling ownership amid family discord and ongoing sale chatter involving Kushner and Iger.

via NBC Sports|

#business #buss-family #jeanie-buss

business11 days ago•1 min saved

Jeanie Buss fights to block Lakers stake sale amid Iger-backed bid

Jeanie Buss is attempting to block the Buss family’s remaining 17.8% stake in the Los Angeles Lakers from being sold to the Bob Iger–led group (with Josh Kushner) as part of a wider $12.5 billion deal for controlling interest; her lawyer says she must approve any sale as a co-trustee to maintain a minimum 15% ownership and calls the proposed vote void, signaling a fiduciary dispute within the family.

via BBC|

#bob-iger #business #buss-family

business11 days ago•4 min saved

Lakers Sale Moves Forward as Buss Family Plans Exit, Jeanie’s Governor Role in Jeopardy

The Buss family intends to sell its remaining Lakers shares, which would force Jeanie Buss to relinquish her governor title under NBA rules and end the Buss era after decades with the franchise. The sale follows Mark Walter’s deal to transfer controlling ownership to Bob Iger and Josh Kushner at a $12.5 billion valuation. The Buss Family Trust must secure at least four of six votes to authorize the sale, with trustees including Jeanie, Janie and Joey Buss; if completed, ownership would shift away from the Buss family and Jeanie’s governorship would likely end, though it’s unclear how she voted or what role she’ll play going forward.

via The New York Times|

#bob-iger #business #buss-family

business7 months ago•2 min saved

Lakers Sale Unmasks Deep Buss Family Rift

ESPN reports that the Lakers’ $10 billion sale intensified long-running Buss family tensions, with Jeanie Buss consolidating control after Jerry Buss’s death and a pattern of distrust and infighting among siblings. Interviews with staffers and insiders describe power struggles, coups, and questions about whether the sale aligned with the family trust, culminating in the firing of Joey, Jesse, and Janie Buss after the deal closed and leaving unresolved questions about how the transfer of ownership was handled.

via Bleacher Report|

#business #buss-family #infighting