Jeanie Buss has narrow path to remain Lakers governor

The Lakers’ ownership saga over the last three weeks has been dizzying, to say the least.Mark Walter agreed to sell his shares of the Lakers to Josh Kushner and Bob Iger at a historic valuation of $12.5 billion, less than a year after Walter bought the team from the Buss family. All while Walter’s business empire is facing a federal investigation into potential loan fraud and business wrongdoings.As for the Buss family, it has another date in court as current Lakers governor Jeanie Buss attempts to block her five siblings (Jim, Johnny, Janie, Joey and Jesse Buss) from selling the family’s 17.8% share of the Lakers to Kushner and Iger.There are clear stakes tied to the results of the litigation: If Jeanie is able to block her siblings’ attempted sale, she’d maintain the ownership stakes of the Lakers that are required for her to remain the franchise’s governor for at least the next four years, which was a part of the deal she had with Walter when her family sold the team.But if the siblings are able to go through with the sale, Jeanie wouldn’t be able to stay on as the Lakers’ governor because the league requires a governor to have an ownership stake of at least 15% in the franchise. And that’s without even adding the context of a source close to the NBA telling The Post’s Charles Gasparino that Kushner will be the Lakers’ governor once he and Iger’s purchase is official, with Kushner being expected to have the largest shares of the Lakers.The Lakers’ internal hierarchy could go in multiple directions. But when it comes to Jeanie Buss, her options to maintain her role as Lakers governor appear to be narrow. The Athletic first reported that Buss would be open to acquiring other ownership stakes to reach the 15% threshold to remain governor.  But as detailed in the 97-page petition Buss’ lawyers filed in Los Angeles Superior Court last week looking to block her siblings’ attempted sale of their minority ownership stake of the franchi...

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Publisher: New York Post

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