Jeanie Buss' Siblings Take Major Decision Amid Lakers Ownership Battle

While the Lakers ownership issue remains unresolved in the NBA, the Buss brothers have made a major decision with a stake in another ownership group. While the stake itself isn't a majority one, it is expected to land them an advisory role.

"New story: Buss Sports Capital is joining the new San Diego Padres ownership group." ESPN's Dave McMenamin reported on August 25. "Joey and Jesse Buss announced Wednesday. The brothers will serve on the Padres' advisory board led by new owners Jose E. Feliciano and Kwanza Jones."

The Buss brothers are entering a new baseball chapter, but the timing is interesting. Joey and Jesse Buss have reportedly taken a combined 5% stake in the Padres, joining the advisory board as the franchise changes hands at a record $3.9 billion valuation.

The ESPN report touched upon how the role won’t involve running baseball operations day to day. Instead, their expertise in scouting, player development, roster construction and payroll management is expected to shape the Padres’ long-term vision.

The Buss family has long lived on the luxury side of the spectrum. From lavish Los Angeles mansions and Mediterranean yachts to a private jet, their fortune has opened the door to a lifestyle few can match

With the Lakers’ ownership situation still unresolved, the brothers’ first major post-Lakers move places them inside another major sports franchise, just down the California coast.

The Buss brothers may own just 5% of the Padres, but the decision still carries major weight. The investment comes as MLB approved the franchise’s record $3.9 billion sale, just days after the Buss family trust voted to sell its remaining minority stake in the Lakers.

Just a week earlier, five Buss siblings voted to sell their remaining 17.8% Lakers stake to Josh Kushner and Bob Iger, with the franchise valued at a staggering $12.5 billion.

Inside The LA Lakers' Ownership Dilemma

Though reports did emerge recently about potentially selling the Buss family stake, Jeanie Buss is pushing back against the reported sale, directly contradicting an earlier ESPN report that the family had agreed to sell to Bob Iger and Joshua Kushner.

In a letter obtained by CNBC, her attorney Adam Streisand argued that Jeanie never agreed to the sale. The idea was that any family vote claiming otherwise is “void.”

The key reason? A 2017 court order that, according to Streisand, still makes Jeanie the Lakers’ controlling shareholder.

What began as Jerry Buss’ family legacy has now turned into a bitter sibling battle. Buss bought the Lakers in 1979, hoping the franchise would remain in the family long after he passed away in 2013.

Instead, the six siblings have already seen one fire the other five from their jobs and have taken their differences to court.

Now, the fight has reached the Lakers’ ownership itself. The siblings remain divided over whether they can sell their minority stake and, in doing so, potentially remove Jeanie Buss as governor.