Buss siblings file formal opposition after Jeanie Buss' attempts to block remaining sale of Lakers stake

The Buss family legal battle over the Los Angeles Lakers continued on Wednesday.

The five Buss siblings who voted to sell the rest of the family trust's shares in the franchise — Jim, Johnny, Janie, Joey and Jessie — filed a formal opposition in court on Wednesday after unresolved settlement discussions with their other sister, Jeanie Buss, according to ESPN's Shams Charania.

Jeanie had previously filed a petition in Los Angeles Superior Court to attempt to block the five siblings from selling the family's remaining 17.8% stake in the Lakers, which she claimed was a scheme to remove her from her role as the team's governor.

"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 siblings said in a statement. "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."

"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 siblings said in a statement. "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."

Mark Walter, who purchased a majority of the Buss family's share of the Lakers last year, announced earlier this fall that he was selling his stake in the team to Josh Kushner and Bob Iger at a record $12.5 billion valuation. The five siblings then reportedly voted to invoke a "tag-along" clause to sell their remaining stake in the team to Kushner and Iger.

Jeanie, however, does not want to sell and called any vote to sell the team "void." She filed a 97-page petition that included five causes of action , and argued that selling the team doesn't make any financial sense. She also asked the court to instruct her co-trustees to observe a 2017 court order that requires they "take all actions reasonably available to ensure Jeanie's appointment as Controlling Owner" of the Lakers.

NBA rules require that a team governor own at least 15% of a team. Jeanie was going to remain in her role as governor for the next four years under Kushner and Iger, though that can't happen if her siblings prevail and they sell the rest of their shares.

This is just the latest feud among the Buss siblings since their father, Jerry Buss, died in 2013. The biggest issue was back in 2017, when Jeanie fired Jim as the Lakers' head of basketball operations, which led to Johnny challenging her control of the team. Jerry left her control of the team as part of the trust, and she ended up winning a court decision that said her siblings were obligated to ensure she remains the team's controlling owner.

It's unclear if that order still applies, as the Buss family is not the controlling owner of the team anymore. Jeanie simply wants to keep control of the team's minority ownership of the team.

The move to sell the team by the siblings makes sense, especially since Jerry put a "last man standing" provision in his trust. That would transfer ownership of the team and funds to the remaining siblings when one of the six of them dies, rather than to their own families. But if the siblings sell before their own deaths, they can pass money along to their respective families and children.

Clearly, things within the Buss family haven't settled down any. With a formal opposition now filed, the family is headed toward another, likely messy, court battle.