Lakers’ Ownership Fate Lies In Legalese

The Los Angeles Lakers basketball team has been in something like limbo since the death of its majority owner, Jerry Buss, in 2013. Jeanie, Jim, and Johnny Buss have been squabbling about authority over various aspects of Lakers’ ownership and management. Jeanie had Jim removed as the team’s vice president of basketball operations, putting former player Magic Johnson in his place. Three days later, Johnny called an annual meeting of the Lakers’ board of directors – excluding Jeanie. But according to legal experts, the recently-released trust document puts all question to rest: “The trustees shall take whatever actions are reasonably available to them to have Jeanie M. Buss appointed as the new Controlling Owner of The Los Angeles Lakers, Inc.” Patrick Goodman, a probate law expert who teaches at UCLA, told the Los Angeles Times, “The language is pretty clear that Jim and Johnny have an ongoing duty to maintain Jeanie as the new controlling owner.”