The drama surrounding the Los Angeles Lakers’ organization continues as reports have come out that ousted executive president of basketball operations and co-owner Jim Buss, along with brother and co-owner Johnny, tried to sell their shares in the team ownership. Previously, the two brothers tried to wrest control of the organization from team president Jeanie Buss.
In a report by Ramona Shelburne of ESPN detailing the drama between the Buss siblings, a fourth Buss family member, sister Janie Buss said that her two brothers, after failing to oust Jeanie as president of the Los Angeles Lakers, wanted to cash out. “This is something huge and it’s not going to go away. They’re trying to bust the trust so they can sell their [interests],” Janie was quoted saying. “And if they sell, that’ll leave us in the rest of us in a minority.”
As noted by NBC Sports, each of the six Buss children by the late Jerry Buss owns 11 percent of the team. Should Jim and Johnny cash out, that would leave the siblings with a 44 percent share. It is also important to note that simply buying out the two brothers would be difficult as the Los Angeles Lakers were recently valued by Forbes at an estimated $3 billion.
Jeanie Buss previously relieved her brother Jim of his duties as president of basketball operations to make way for Magic Johnson assuming the post. Longtime general manager Mitch Kupchak was likewise ousted from his position, and was later replaced by Rob Pelinka. As reported by the Los Angeles Times, shortly after, Jim and Johnny tried to hold a meeting to elect a new board of directors without Jeanie. The two brothers eventually withdrew the request after Jeanie asked for a restraining order.
The Los Angeles Lakers may have put in new people in Luke Walton, Magic Johnson and Rob Pelinka to shape the future direction of their basketball team. But with the internal turmoil within the Buss family looking to be a lingering issue, a return to its former glory may not yet be in sight for the once prestigious franchise.
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