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Jim and Johnny Buss tried to strip Jeanie of her power

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Jeanie Buss thwarts brothers' coup attempt

The Buss brothers are bitches. No wonder Dr. Buss left Jennie to call the shots for the business of the Lakers.

Jennie filed a motion to have all this settled on May 7th.

Let's say the Buss brothers win this, and get control, they will be most hated in LA.

They will fire Magic, the same day of the court ruling, if they win.
 

WiggyRuss

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Jeanie Buss thwarts brothers' coup attempt

The Buss brothers are bitches. No wonder Dr. Buss left Jennie to call the shots for the business of the Lakers.

Jennie filed a motion to have all this settled on May 7th.

Let's say the Buss brothers win this, and get control, they will be most hated in LA.

They will fire Magic, the same day of the court ruling, if they win.
holy shit....seriously- i thought the Browns were fucked up when Jimmy Haslem was almost indicted by the FBI.....

lol...ladies and gentleman - your Los Angeles Lakers.

The Buss brothers had filed a motion to hold a meeting with the Lakers' minority owners next Tuesday to elect a new board of directors -- and to replace Jeanie Buss.

Lawyers for Jeanie Buss challenged the motion in Los Angeles Superior Court on Friday by filing a temporary restraining order, saying the Buss brothers' actions were continuing to "breach their duties" by challenging her controlling ownership.

The motion was subsequently withdrawn, and the meeting for next week has been canceled.

  • "I want to make sure that they don't try to do this thing again," Jeanie Buss' lawyer Adam Streisand told ESPN. "No one wants to go through this again. We just want the team and the fans to have the stability and the success."

Dr. Jerry Buss' six children co-own 66 percent of the Lakers in trust. The three trustees are Jeanie, Johnny and Jim Buss, meaning the two brothers thought they had the votes to control the trust's actions.




i dont know if that is an unreasonable argument- it certainly sounds like it is- though - what could save her is if the trust specifically names her as the person in charge....thats def what it is- jsut read it....if i were to bet, id bet a lot that Jeanie wins.
 
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Kold

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The elder brothers were stopped, and from everything I read, it's somewhat of a foregone conclusion that they'll lose again on the next court hearing
 

True Lakers Fan

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The elder brothers were stopped, and from everything I read, it's somewhat of a foregone conclusion that they'll lose again on the next court hearing
I expect that there are measures in there that could legally remove Jeannie in extreme cases, but I havent seen anything in the press to indicate they have a leg to stand on and I think that leg would have to include input from the NBA commissioner saying she was in competent or something. For now they have nothing
 

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Jeanie Buss thwarts brothers' coup attempt

The Buss brothers are bitches. No wonder Dr. Buss left Jennie to call the shots for the business of the Lakers.

Jennie filed a motion to have all this settled on May 7th.

Let's say the Buss brothers win this, and get control, they will be most hated in LA.

They will fire Magic, the same day of the court ruling, if they win.
Oh fuck yeah! Strip that bitch!
 

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jeannie's best option is to sit down with her brothers and provide them with her vision and time table and agree to make changes if she is not successful and sell it by giving them administrative positions in the company. Then allow them to discuss her what Magic Johnson is going to do privately and then let her be the liaison to Magic.
 

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The trust has 5 directors though so it would take more then Jim and Johnny to remove Jeannie
 

wildturkey

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It's possible they are within their legal right to do so. It all depends on the language of the Trust that the Lakers is in. From what I've seen, all the Buss children are equal members of that Trust. That Trust makes Jeanie the controlling member of the Lakers, not the Trust, a key distinction. If she is the controlling member of the Trust, there's likely little they can do. Whatever she says, goes, regardless of any of her other siblings. If not, then its entirely dependent on language in the Trust on what can be done. It could be possible that there are methods to remove her as the controlling member of the Lakers via the Trust itself (the Buss children) if all vote to do so.

What's been shown so far is it appears the brothers attempted to call a Lakers directors meeting to vote for new board members (an attempt to remove her from the board), but there's language in the Trust that states the controlling owner has to be on the board. It's really not all that clear based on what's been given so far. This method makes no sense. But if they act through the Trust itself, it might be possible. I saw an excerpt from Jeanie's lawyers showing she has a right to be the controlling member but even that's ify. The clause show seems to only mention the actions to grant her that position when the Trustor (Dr. Jerry Buss) dies. There doesn't appear to be any language in that twitter clip that I saw that suggests they have to always retain her in that position, just that she is to be in that position upon Dr. Buss' death. So its all messy right now as far as all the details we know. I'm sure we'll find out more as the court date approaches.


Clearly the Buss children are fractured on how to run the team beyond just Jim and Jeanie. Really, its not that much of a bitch move. It's a standard legal move. If person X is taking things in the wrong direction, trustees w, y, z etc have legal methods to stop it in most situations like this. This is the exact scenario as to why it is stupid to leave equal shares of a business to family members with one person acting on behalf of the others despite them having equal shares. It almost never works out. Even if the family members are on good terms, people naturally are different in how they run things so problems are bound to arise. That's why its better to pick one and pay off the rest or make everyone beneficiaries in a Trust but have an outside person run it.

@WiggyRuss can probably give more clarity on it since he's a lawyer. I'm not a lawyer so take it all with a grain of salt, I'm just going off some past experiences involving Trusts on a much much smaller scale.
 

WiggyRuss

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It's possible they are within their legal right to do so. It all depends on the language of the Trust that the Lakers is in. From what I've seen, all the Buss children are equal members of that Trust. That Trust makes Jeanie the controlling member of the Lakers, not the Trust, a key distinction. If she is the controlling member of the Trust, there's likely little they can do. Whatever she says, goes, regardless of any of her other siblings. If not, then its entirely dependent on language in the Trust on what can be done. It could be possible that there are methods to remove her as the controlling member of the Lakers via the Trust itself (the Buss children) if all vote to do so.

What's been shown so far is it appears the brothers attempted to call a Lakers directors meeting to vote for new board members (an attempt to remove her from the board), but there's language in the Trust that states the controlling owner has to be on the board. It's really not all that clear based on what's been given so far. This method makes no sense. But if they act through the Trust itself, it might be possible. I saw an excerpt from Jeanie's lawyers showing she has a right to be the controlling member but even that's ify. The clause show seems to only mention the actions to grant her that position when the Trustor (Dr. Jerry Buss) dies. There doesn't appear to be any language in that twitter clip that I saw that suggests they have to always retain her in that position, just that she is to be in that position upon Dr. Buss' death. So its all messy right now as far as all the details we know. I'm sure we'll find out more as the court date approaches.


Clearly the Buss children are fractured on how to run the team beyond just Jim and Jeanie. Really, its not that much of a bitch move. It's a standard legal move. If person X is taking things in the wrong direction, trustees w, y, z etc have legal methods to stop it in most situations like this. This is the exact scenario as to why it is stupid to leave equal shares of a business to family members with one person acting on behalf of the others despite them having equal shares. It almost never works out. Even if the family members are on good terms, people naturally are different in how they run things so problems are bound to arise. That's why its better to pick one and pay off the rest or make everyone beneficiaries in a Trust but have an outside person run it.

@WiggyRuss can probably give more clarity on it since he's a lawyer. I'm not a lawyer so take it all with a grain of salt, I'm just going off some past experiences involving Trusts on a much much smaller scale.
I am not a lawyer yet as i have not taken the bar- but most of my work is done in estate planning and trusts- and even if they have the advantage as trusttes- if the trustee specifically names Jeanie as the controlling owner of hte lakers than thats pretty clear.

i have no clue why the buss brothers would file a motion before exploring that- they had to know they would lose--- they file it- and then withdraw it? that is so freaking stupid i cant even imagine. How can you possibly file that motion unless you know you are going to win?
 

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So, nobody was going to correct me on Jeanie's name?
 

True Lakers Fan

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I am not a lawyer yet as i have not taken the bar- but most of my work is done in estate planning and trusts- and even if they have the advantage as trusttes- if the trustee specifically names Jeanie as the controlling owner of hte lakers than thats pretty clear.

i have no clue why the buss brothers would file a motion before exploring that- they had to know they would lose--- they file it- and then withdraw it? that is so freaking stupid i cant even imagine. How can you possibly file that motion unless you know you are going to win?
I understood the article correctly, Jeannie in short is a controlling governor for life and cannot be removed as a board of directors which most likelybdoes not set to well with the Buss men. That's the easiest way of explaining how that works. In short the Buss family trust has a meeting and elects their three trustees,who are part of the five Lakers trust that is owned by the Lakers trust Phil Anscult, who controls the other two board of directors members.
 

WiggyRuss

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I understood the article correctly, Jeannie in short is a controlling controller for life and can both be removed as a board of directors which most likelybdoes not set to well with the Buss men. That's the easiest way of explaining how that works. In short the Buds family trust has a meeting and elects their three trustees,who are part of the five Lakers trust that is owned by the Lakers trust Phil Anscult, who controls the other two board of directors members.
when Dr. Buss had the trust written it sounds like their was a specific provision that made Jeanie controlling owner of hte Lakers--- even though there are 3 trustees and she is outnumbered- because that is specifically in the trust its set in stone.

you can amend the trust- but how to amend would be in the trust--- usually it takes a majority of the beneficiaries -- that or sometimes they let a court decide upon,

did jimmy buss really think he would win if it specifically names her as controlling owner of the team in the trust document?
 

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when Dr. Buss had the trust written it sounds like their was a specific provision that made Jeanie controlling owner of hte Lakers--- even though there are 3 trustees and she is outnumbered- because that is specifically in the trust its set in stone.

you can amend the trust- but how to amend would be in the trust--- usually it takes a majority of the beneficiaries -- that or sometimes they let a court decide upon,

did jimmy buss really think he would win if it specifically names her as controlling owner of the team in the trust document?
Yeah I am pretty sure dad meant her to be in complete control. I have seen companies I've audited set up like that and expect they wanted to test her power to see what they could pull. But behind that beautiful a$$ is a really smart lady
 

WiggyRuss

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how ridiculous though- as soon as the team gets a little good press and stuff like Isiah Thomas- a guy who is a free agent after next year talking about Magic, about Paul George- etc.....at least SOMETHING positive in an otherwise dreadful year--- and the headline is talking about how Jimmy is trying to outmaneuver Jeanie for contorl.

its your classic- father lets son run operations, son does such a poor job sister fires him, and son gets mad and tries to wrest control after from sister.

it sounds like Jeanie is in a very very good position and if i were her i would not anticipate any problems keeping control- but could you even imagine if something screwy happened and Jimmy won and fired Magic the next day and took control? That would freaking just crazy.
 
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