Jim and Johnny Buss tried to strip Jeanie of her power

[True Lakers Fan]

There several different entities

The Buss family trust
The Lakers Trust
The trust owned by the other guy operating the Staples center

The Buss Family Trust has three trustees operating on all six of the kids interests. Jeanie, Jim and Johnny - These three also serve on the Lakers trustee board with two other trustees appointed by the Anschultz - who is the owther owner. Each year a new board of directors has to be elected to serve. The will states that Jeanie is to be elected every year so that she can remain the controlling governor. Johnny and Jim Buss will most like say that the provision of the will is not binding and they can elect whoever they want. That would set the stage for Jeanie's demise IF they were to succeed

 

[True Lakers Fan]

They have websites for that ya know!

Yeah - with viruses that will crash your computer and lock it up. No thanks - I will keep myself and my computer clean - I have other things to do that are more productive

 

[Shaqdaddy11]

Yeah - with viruses that will crash your computer and lock it up. No thanks - I will keep myself and my computer clean - I have other things to do that are more productive

 

[True Lakers Fan]

You're taking this way to seriously

 

[Shaqdaddy11]

You're taking this way to seriously

With that last reply, so are you...

 

[WiggyRuss]

sssss

There several different entities

The Buss family trust
The Lakers Trust
The trust owned by the other guy operating the Staples center

The Buss Family Trust has three trustees operating on all six of the kids interests. Jeanie, Jim and Johnny - These three also serve on the Lakers trustee board with two other trustees appointed by the Anschultz - who is the owther owner. Each year a new board of directors has to be elected to serve. The will states that Jeanie is to be elected every year so that she can remain the controlling governor. Johnny and Jim Buss will most like say that the provision of the will is not binding and they can elect whoever they want. That would set the stage for Jeanie's demise IF they were to succeed

i would think that Jeanie Buss should be fine- i cant see Jim Buss wresting control of the team from her---- but if he was bitter enough to force a sale- i do think thats something that he could do eventually.



as screwed up as the Browns are- i couldnt imagine the "owners" of the team fighting amongst themselves. This is pretty crazy. It just goes to show you- trying to split up power like that rarely works out. you need one vision. it almost always ends in problems.

 

[True Lakers Fan]

sssss

i would think that Jeanie Buss should be fine- i cant see Jim Buss wresting control of the team from her---- but if he was bitter enough to force a sale- i do think thats something that he could do eventually.



as screwed up as the Browns are- i couldnt imagine the "owners" of the team fighting amongst themselves. This is pretty crazy. It just goes to show you- trying to split up power like that rarely works out. you need one vision. it almost always ends in problems.

Can't be sold. The team is in an irrevocable trust

 

[True Lakers Fan]

sssss

i would think that Jeanie Buss should be fine- i cant see Jim Buss wresting control of the team from her---- but if he was bitter enough to force a sale- i do think thats something that he could do eventually.



as screwed up as the Browns are- i couldnt imagine the "owners" of the team fighting amongst themselves. This is pretty crazy. It just goes to show you- trying to split up power like that rarely works out. you need one vision. it almost always ends in problems.

It will always end bad

 

[WiggyRuss]

Can't be sold. The team is in an irrevocable trust

i understand what you are saying but if the trustees are at logger heads and take it to court and the court says the purpose of the trust is frustrated you can do something like that. The Lakers are an asset in the Trust. etc...

if a majority of the beneficairies of the trust decided to do something - they can do it. The Buss brothers would need more than just the two of them though- they would need 4 out of the 6. I dont see that happening of course.

 

[True Lakers Fan]

i understand what you are saying but if the trustees are at logger heads and take it to court and the court says the purpose of the trust is frustrated you can do something like that. The Lakers are an asset in the Trust. etc...

if a majority of the beneficairies of the trust decided to do something - they can do it. The Buss brothers would need more than just the two of them though- they would need 4 out of the 6. I dont see that happening of course.

Not if the trust is irrevocable. Rule of law says that the Buss children don't own the stock. The Trustnons the stock. The NBA would have to do what they did to Sterling for that to happen.

 

[True Lakers Fan]

Then trust was placed to continue the Buds legacy beyond Jeanie and Jim. Jeanie is a beniciary of the profits as are the children but the Lakers is bigger than the Buds children

 

[True Lakers Fan]

If the Lakers started losing money to the point of bankruptcy then the NBA would step in and force them into a receivership and they could force a sale because of the monopoly laws for the NBA but as of right now Adam Silver has placed his support in Jeanie so the Buds chumps are going to have to slither away and cry

 

[DetroitDevil]

this her?

 

[trojanfan12]

this her?

 

[trojanfan12]

Then trust was placed to continue the Buds legacy beyond Jeanie and Jim. Jeanie is a beniciary of the profits as are the children but the Lakers is bigger than the Buds children

Who are the Buds?

 

[True Lakers Fan]

Who are the Buds?

My spell check plays mean and vicious tricks on me. Should have said Buss, I forgot to put a comma after the s stop the spellcheck

 

[Mecca]

Jeanie be like...

 

[Lakers+USC=#1]

Boy, Dr. Buss is rolling over in his grave right now

 

[True Lakers Fan]

Boy, Dr. Buss is rolling over in his grave right now

Summersaults actually

 

[WiggyRuss]

Boy, Dr. Buss is rolling over in his grave right now

could you even imagine his reaction?

The Lakers headed for being the 2nd worst team in the NBA, AGAIN, after being the 2nd worst team in the league last season, while being the 4th worst team in the NBA the season before- and now his son and daughter are having a publicized fight trying to wrestle control of the team from eachother in court.