Jeanie Buss considering paying out siblings to buy Lakers ownership share worth almost $2 billion

The Los Angeles Lakers sale to Bob Iger and Joshua Kushner will continue, but Jeanie Buss is considering all options to prevent her family from selling their remaining share.

The Buss family still owns 17.8% of the Lakers, but Jeanie’s five siblings are trying to sell their remaining ownership stake to the Iger and Kushner-led ownership group.

Jeanie is trying to block the sale of the family stake to retain her powers as the team’s Governor, but is also exploring an alternative measure which could safeguard her position for the rest of her life.

Jeanie Buss might potentially buy her siblings out to retain control of Lakers

The Athletic is reporting that Jeanie would be open to exploring a scenario where she is the one who purchases the family’s shares instead of them selling it to Iger and Kushner.

“Jeanie, meanwhile, clearly has no intention of selling her shares before the rest of her governorship is up. Could there be a way for the rest of the siblings to sell and Jeanie to remain as governor?… Per a league source, Jeanie would be open to exploring that scenario.”

Since the Walter sale is unrelated to what the Buss family does with their share, it shouldn’t interrupt proceedings of that sale over the next month.

Jeanie has her position as Governor secured as long as she is associated with the Lakers’ ownership share.

As long as she contests the sale, she can retain her position and figure out a way to buy her siblings out for either the minimum 15% required to remain Governor or the entire 17.8%.

What is the Buss family’s share of the Lakers worth?

With the $12.5 billion valuation at which the franchise just sold, and the value at which Iger and Kushner would buy out the family’s share, their 17.8% would be worth roughly $2.2 billion.

Jeanie Buss’ personal net worth is listed as around $1 billion, factoring in her share of the current 17.8% and the estimated $500 million she received when the family sold their shares to Walter last year.

Her net worth is also tied to the Cincoro tequila, also owned by Michael Jordan, and the women’s wrestling promotion ‘Women of Wrestling (WOW)’.

Jeanie would have to explore raising capital for this minority stake and ensure she can find a way to retain control. This could be done with aligned private financiers or by selling personal stakes and items.

Jeanie could also explore taking on debt to finance this purchase, although it also depends on the other Buss siblings agreeing to sell their share to Jeanie after years of acrimony.

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