Jeanie Buss files court response to siblings

Jeanie Buss formally responded to her five siblings in a Los Angeles Superior Court filing this week. The Lakers governor accused Jesse, Joey, Janie, Jim, and Johnny Buss of using media outlets to construct a specific narrative. That narrative centered on their effort to sell the Buss Family Trust’s remaining 17.8 percent minority stake in the franchise. The siblings seek to use go-along rights in this transaction.

The 27-page document, reviewed by the Southern California News Group, argues that the siblings are casting themselves as victims. Buss described the episode as her siblings' own false flag operation. She claimed they held backroom votes and resolutions to share with the media. They did not share these items with their co-trustee and sister, Buss stated.

The filing asserts this strategy was intended to force Buss's hand. It also aimed to make her cry victim and smear her in the press. The document notes the siblings shared their response in advance to the media. Buss called this response specious.

The filing reiterates Buss' demand for co-trustees Janie and Joey to comply with a 2017 court order. That order is attached to the family trust. It requires the family trust's stake to remain above 15 percent. This threshold allows Buss to remain the Lakers governor. She is the third trustee in the arrangement.

Buss' four lawyers argue the five siblings' vote to sell the remaining stake is void. They state the vote violates the trust. The filing asks the court to remove Joey and Janie as co-trustees. It also seeks a holding of contempt of court against them. Buss previously asked that her other three siblings, Jesse, Johnny, and Jim, be held in contempt. She alleged they aided and abetted Janie and Joey.

The filing addresses the siblings' allegation that Buss is self-interested. It references their October 16 filing, which accused Buss of hypocrisy. Buss' document counters that her self-interest aligns with her parents' directives. It states she has led the team as her father and mother directed in their trusts.

A court hearing involving Buss and her five siblings is scheduled for December 8 in Los Angeles Superior Court. Meanwhile, Joshua Kushner and Bob Iger are finalizing their $12.5 billion valuation purchase of the Lakers. The NBA has not yet officially approved the deal. A source familiar with the situation said Group that Kushner and current Lakers owner Mark Walter finalized remaining terms on Thursday. The meeting took place at Walter's Florida home.

The source, who spoke under the condition of anonymity, said Kushner has raised all the money necessary. Kushner is the founder of Thrive Capital. The Buss family dispute is not expected to impact the sale of the Lakers. The NBA Board of Governors could approve the deal at its November meeting. However, a later approval is more likely as the league conducts due diligence.

If the Buss family successfully sells their remaining stakes to Kushner and Iger, each sibling is set to make $371 million. For Buss to remain governor, she must be part of an ownership group holding at least 15 percent of the franchise. Currently, the Buss Family Trust holds that stake. Her siblings hope to abolish the trust to facilitate the sale of their shares.