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The Buss Family issues a statement regarding their sale of their interest in the Lakers
Posted on 8/17/26 at 2:52 pm
Posted on 8/17/26 at 2:52 pm
"We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction," the family said in a statement. "We love the Lakers, Laker fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can."
12
Posted on 8/17/26 at 2:58 pm to JohnnyKilroy
Jerry rolling over in his grave selling to a Clippers fan
Posted on 8/17/26 at 3:16 pm to JohnnyKilroy
The rats are headed down the hawser.
Note: "While we still can"
Note: "While we still can"
This post was edited on 8/17/26 at 3:19 pm
Posted on 8/17/26 at 3:35 pm to Drydock
quote:
The rats are headed down the hawser.
quote:
Drydock
name checks out
Posted on 8/17/26 at 4:03 pm to JohnnyKilroy
Good. Those Kids destroyed the Franchise
Posted on 8/17/26 at 4:24 pm to RohanGonzales
My wife "tell me again dear, which way is port?"
Posted on 8/17/26 at 4:48 pm to JohnnyKilroy
quote:
We love the Lakers, Laker fans and will continue to support Los Angeles but it is time to use this opportunity to move on and exit gracefully while we still can
Translation: We just love money more. We don’t care about LA and we gettin outta here.
This post was edited on 8/17/26 at 4:54 pm
Posted on 8/17/26 at 4:56 pm to JohnnyKilroy
quote:
Ramona Shelburne:
Also: Am told by multiple sources that Lakers governor Jeanie Buss did not vote to sell. The other five siblings did. x.com
Posted on 8/17/26 at 5:07 pm to JohnnyKilroy
Saudis will end up buying it at some point
Posted on 8/17/26 at 5:08 pm to JohnnyKilroy
Basically Trump’s team now! I love it!
Posted on 8/17/26 at 5:23 pm to danilo
Posted on 8/17/26 at 5:31 pm to JohnnyKilroy
I read a pretty good article earlier this year about the infighting between the 2 sets of kids. So her getting out voted makes sense to me.
Posted on 8/17/26 at 5:47 pm to PeteRose
quote:
Translation: We just love money more. We don’t care about LA and we gettin outta here.
Jeanie probably would rather stay so she can continue a level of public importance but given that she ran off the rest they don't give a shite and will just take the money.
This post was edited on 8/17/26 at 5:55 pm
Posted on 8/17/26 at 5:56 pm to saintsfan22
A $12 billion sale of the team makes it hard for Jeanie to fight this if the other siblings want to cash out.
They can argue that she can decide not to sell her shares but the rest of the family is under no obligation to do the same.
They can argue that she can decide not to sell her shares but the rest of the family is under no obligation to do the same.
Posted on 8/17/26 at 7:02 pm to teke184
quote:She doesn’t have any shares in the Lakers. The Family Trust does, of which she has 1/6th of the voting power. She can’t just hold onto 3% of the Lakers and the other 15% exit because she doesn’t have 3% of the Lakers. And they can’t realistically structure an agreement that sells their 15% “share” of the Lakers in exchange for leaving the trust because there’s more than the Lakers in the trust
They can argue that she can decide not to sell her shares but the rest of the family is under no obligation to do the same.
Her argument is that there are provisions in the trust documents that essentially don’t allow selling ownership lower than 15% to preserve her ability to be controlling owner. The LAT reported on it in 2017. So they’d only be able to sell 3% of the 18%. And while the sale last year included tag-along rights for the trust to get out at the same valuation, that has nothing to do with trust governance. She’s one of the 3 trustees and sale of their shares apparently must entail unanimous approval of the 3
The siblings constantly leak stuff to damage her and it’s likely they just did so to pressure her as well as to argue fiduciary duty angles that it’s in the best interest of the trust to get out at this valuation
We’ll figure out what’s true over time but it should get nice and messy. They can’t stand each other
This post was edited on 8/17/26 at 7:28 pm
Posted on 8/17/26 at 7:17 pm to RemouladeSawce
No. Matter what happens. Jay Mohr continues to shite in a swinging jug.
Posted on 8/17/26 at 7:24 pm to JohnnyKilroy
While we still can?
What’s that mean?
What’s that mean?
Posted on 8/17/26 at 9:15 pm to ReauxlTide222
quote:As part of Walter’s majority sale to Iger/Kushner, the minority shareholders have tag-along rights that allow them to sell their holdings at the same valuation. So it gives them liquidity they otherwise wouldn’t have at arguably the best price
While we still can? What’s that mean?
But there’s a short window to exercise the rights, usually less than 30 days. Hence “while we still can”
This post was edited on 8/17/26 at 10:02 pm
Posted on 8/17/26 at 10:07 pm to RemouladeSawce
quote:I appreciate it my man
RemouladeSawce
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