Lakers governor Jeanie Buss says siblings cannot sell family’s stake to Bob Iger, Joshua Kushner
Jeanie Buss's lawyer says she has not agreed to sell the team and that any vote suggesting the Buss family is selling "would be and is void."
The recent statement from Jeanie Buss, governor of the Los Angeles Lakers, regarding the potential sale of the team's stake to Bob Iger and Joshua Kushner has significant implications for the team's ownership structure and the sports industry as a whole. The fact that Buss's lawyer has explicitly stated that she has not agreed to sell the team and that any vote suggesting otherwise would be void suggests that there may have been some confusion or miscommunication about the team's future ownership.
This development is particularly relevant for investors and fund managers who follow the sports industry, as it highlights the complexities and challenges of investing in or acquiring a professional sports team. The Lakers are one of the most valuable and successful teams in the National Basketball Association, with a brand valued at over $3.6 billion. Any change in ownership could have significant financial and strategic implications for the team, its stakeholders, and the league as a whole.
Looking ahead, investors and fund managers should watch for further developments on the ownership front, including any potential disputes or litigation related to the team's governance and ownership structure. Additionally, they may want to monitor the team's financial performance and strategic decisions, as any changes in ownership or leadership could impact the team's long-term prospects and valuation. The NBA's Board of Governors may also play a role in determining the team's future ownership, and their actions and decisions will be worth watching in the coming months.
Originally reported by cnbc.com. FundNews adds analysis for finance & markets readers.