The Los Angeles Lakers are making headlines for all the wrong reasons. This time not about another abysmal year on the court, but rather the tumultuous state of ownership.
Brothers Johnny and Jim Buss tried to go behind sister Jeanie Buss’ back and take control over the Laker franchise. The brothers’ plan to get rid of Jeanie included a loophole to remove her from the Lakers’ board of directors. If carried out Johnny and Jim would be, “Ousting her as the Lakers president and controlling owner”, as Nathan Fenno and Bill Plaschke of the Los Angeles Times reports.
Ramona Shelburne of ESPN reported that the brothers called an emergency meeting for March 7 to elect a new board of directors without Jeanie. They believed that they held a 2-1 advantage over her, therefore, could replace her as majority owner.
The older brothers argued they had the votes (2-1) to elect new directors for the team. An emergency meeting was called for March 7
— Ramona Shelburne (@ramonashelburne) March 3, 2017
Apparently, Jeanie got word of the attempted coup and contacted her lawyer Adam Streisand immediately. When Streisand could not reach either brother to discuss the allegations Jeanie went to court and ordered a temporary restraining order against her brothers to
thwart their attempt at a takeover. Furthermore, Streisand told Fenno and Plaschke that Johnny and Jim, “Don’t have a legal leg to stand on.”
Once news of the Lakers’ turmoil went public the meeting for March 7 was canceled. The brothers’ attorney, Robert Sacks, denied any “nefarious” plans on behalf of his clients. In fact, he claimed that the meeting with the board was nothing more than an “overdue” yearly meeting.
If reports are true, it seems that Johnny and Jim are reacting to Jeanie’s recent decision to name Magic Johnson as head of basketball operations. A decision which led to the firing General Manager Mitch Kupchak and to Jim Buss being stripped of his title and front office duties. The brothers wanted to arrange an election of a new board of directors. Most importantly, they wanted to leave Jeanie off of it. Under league bylaws, one who isn’t on the board can’t be the controlling owner. So, leave Jeanie off the board, take her control. By acting fast and involving her attorney, Jeanie halted her brothers’ plan before they could get it in motion.
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This means at least for now Jeanie’s controlling ownership is safe. ESPN reports there is a trial scheduled for March 15 that could put an end to the ownership battle altogether. However, there is no telling if Johnny and Jim will make another attempt to take over control of the team from their sister. What is clear, though, are Dr. Jerry Buss’ wishes for his franchise. In 2006, he named Jeanie Buss the controlling owner in a trust. One of the provisions of the trust mandates that all trustees, which include Johnny and Jim, “Take all actions to ensure Jeanie Buss remains controlling owner of the Lakers”, per Fenno and Plaschke.
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Because majority ownership is in such overwhelming favor of Jeanie, it doesn’t seem like Johnny or Jim have a realistic shot of removing her control over the franchise. However, if the brothers are set on finding a loophole to follow through with their plans chances are this is just the beginning of a long family feud.
What do you think about the state of the Lakers front office? Will Jeanie keep control or will brothers Johnny and Jim push her aside?