Jeanie Buss Blocks Potential Sale of Lakers Family Stake

In a letter addressed to the law firms representing her five siblings—Jim, Johnny, Janie, Joey, and Jesse—attorney Adam Streisand asserted that no such sale has been authorized. Streisand emphasized that under a 2017 court order, Jeanie Buss remains the team's controlling shareholder. The current governance structure of the JAB Trust requires the approval of co-trustees Jeanie, Janie, and Joey Buss to move forward with any transaction involving the trust’s 17.8% ownership interest.

The letter serves as a sharp warning to the other siblings and potential buyers. Streisand stated that the co-trustees are legally obligated to maintain a minimum 15% ownership threshold to preserve Jeanie Buss’s status as the controlling owner. Any attempt to bypass these requirements or move forward with a sale would, according to the counsel, constitute a breach of fiduciary duty and a direct violation of a court order.