Jeanie Buss has opposed her family's reported sale of their remaining ownership stake in the Los Angeles Lakers.
In a letter obtained by CNBC's Alex Sherman, Jeanie's lawyer, Adam Streisand, claimed that the Lakers governor has not agreed to sell the team and that any vote suggesting the Buss family is selling “would be and is void.”
The letter also opposed Shams Charania's ESPN reporting that broke the news that the Buss family will be selling their 17.8% stake to Josh Kushner and Bob Iger.
Furthermore, according to Streisand's letter, a 2017 court order still recognizes Jeanie as the Lakers' controlling shareholder of her family's stake, noting that their portion of the franchise cannot be sold without her approval.
“No sale of the JAB Trust’s 17.8% ownership interest in the Los Angeles Lakers, Inc. can be effectuated without approval by the current co-trustees, i.e., Jeanie, Janie and Joey Buss. Pursuant to the JAB Trust and the attached Court Order, the co-trustees are bound to vote the Los Angeles Lakers, Inc. shares to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain Controlling Owner,” Streisand wrote.
“Any attempt by the co-trustees to do otherwise, and any attempt to aid or abet the co-trustees as such, would constitute a breach of trust, breach of fiduciary duty and be in contempt of court.”