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Lakers ownership drama: Jeanie Buss accuses siblings of 'false flag operation'

Benjamin Royer, The Orange County Register on

Published in Basketball

LOS ANGELES — Earlier this week, in an L.A Superior Court filing, Lakers governor Jeanie Buss formally responded to her five siblings’ petition from two weeks ago, accusing her siblings of using the media to craft a narrative surrounding their attempt to sell the Buss Family Trust’s remaining 17.8% minority stake in the franchise using go-along rights.

“(Jesse, Joey, Janie, Jim and Johnny Buss) respond (by) casting themselves as victims, when in reality, the entire episode is their own false flag operation,” Wednesday’s filing reviewed by the Southern California News Group states.

“The cloak and dagger, backroom 'votes' and 'resolutions' shared with (the media) rather than their co-trustee and sister, and subsequent refusal to discuss the matter, was intended to force Jeanie’s hand, cry victim and again smear her in the media by sharing in advance their specious response,” the filing continues.

Wednesday’s 27-page filing reiterates Jeanie Buss’ wishes for co-trustees Janie and Joey to “comply” with the 2017 court order attached to the family trust, including keeping the family trust’s stake at above 15%, so that Jeanie can remain Lakers governor.

The filing, as written by Jeanie Buss’ four lawyers, continues to argue that the five siblings’ vote to sell the remaining stake is void, violating the trust, and asks that Joey and Janie be removed as co-trustees and be held in contempt of court. Jeanie is the third trustee.

As previously stated in her original petition, Jeanie asked that her other three siblings — Jesse, Johnny and Jim — also be held in contempt for “aiding and abetting” Janie and Joey.

“It drips with irony that (Joey, Jesse, Janie, Johnny and Jim’s) thesis is that Jeanie is self-interested,” Wednesday’s filing states, referring to her siblings’ filing Oct. 16 that alleged Jeanie was dealing in “hypocrisy”.

“Jeanie’s ‘self-interest’ has been to lead as her father and mother directed in their trusts,” Wednesday’s filing continues.

Jeanie and her five siblings are set for a court hearing Dec. 8 in L.A. Superior Court, while Joshua Kushner and Bob Iger’s $12.5 billion valuation purchase of the Lakers remains in wait to be officialized by the NBA.

 

“Jimmy, Johnny, Janie, Joey and Jesse Buss, the five of six siblings who voted to sell the Trust’s shares in the Lakers, today filed their formal opposition, demonstrating that Jeanie Buss’s petition is legally and factually baseless …,” the five Buss siblings said in a statement two weeks ago to SCNG.

“While discussions among the siblings continue, their focus remains on facilitating the proposed transaction and the Trust’s participation in it, while ensuring that all beneficiaries, including Jeanie, are treated equally. Today’s filing is a necessary step to protect those interests and ensure the transaction proceeds on schedule.”

On Thursday, Kushner and embattled current Lakers owner Mark Walter finalized all remaining terms related to the blockbuster ownership transition at Walter’s Florida home, a source familiar with the situation who was unauthorized to speak publicly told the SCNG.

The source, who was granted anonymity to freely discuss the matter, also said Kushner, the founder of Thrive Capital, has raised “all the money necessary” to complete his and Bob Iger’s purchase of the Lakers.

The Buss family’s ongoing dispute over their minority stake is not expected to impact the sale of the Lakers – which could be approved as soon as November’s NBA Board of Governors meeting, although a later approval remains more likely as the league conducts its due diligence.

Should the Buss family successfully sell their remaining stakes to Kushner and Iger, each sibling will be set to make $371 million.

For Jeanie Buss to remain governor of the Lakers, she will need to be a part of an ownership group that owns at least 15% of the franchise.

For now, that’s the Buss Family Trust that her siblings hope to abolish in hopes of selling their shares.


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