Jeanie Buss open to letting siblings sell Lakers shares if she can remain governor

Jeanie Buss may be willing to let her siblings sell their remaining stake in the Lakers after all, provided she can find a way to remain the team’s governor.

According to Sam Amick and Dan Woike of The Athletic, a league source said Buss is open to exploring a scenario in which her five siblings sell their shares while she retains at least 15 percent ownership.

That’s an important number. NBA rules require a controlling owner or governor to hold at least 15 percent of a franchise.

The possibility represents the first hint of a potential compromise since the Buss family’s ownership dispute spilled into public view this week.

Johnny, Jim, Janie, Joey and Jesse Buss have said they intend to sell the family’s remaining 17.8 percent stake to the incoming ownership group of Bob Iger and Josh Kushner. Jeanie has objected, with her attorney arguing that a 2017 Los Angeles Superior Court order prevents those shares from being sold without the approval of co-trustees Jeanie, Janie and Joey.

“That trumps everything,” one league source told The Athletic.

The five siblings maintain that the Buss Family Trust permits decisions to be made by majority vote.

Meanwhile, Mark Walter’s agreement to sell his 76 percent stake to Iger and Kushner at a $12.5 billion franchise valuation isn’t expected to be affected by the family fight, per The Athletic.

Walter’s original agreement reportedly called for Jeanie to remain governor for five years, and that provision is now considered part of the Iger-Kushner deal. Iger has also expressed support for keeping Buss in the position.

So there may be a path that gives everybody something: Jeanie’s siblings get their exit, while she keeps the job.

The complicated part will be finding enough Lakers shares for her to maintain the required 15 percent.