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Jim Buss officially gone, Johnny Buss neutralized. Janie takes over Jim's spot. No hearing in mid-May. Back to basketball.

http://www.latimes.com/sports/sportsnow/la-sp-jim-jeanie-buss-trust-20170326-story.html

The monthlong fight between Jeanie Buss and her brothers, Jim and Johnny, to control the Lakers is over.

The three siblings have agreed for Jeanie to serve as controlling owner and on the team’s board of directors as long as the family owns the Lakers. On Monday morning, they asked a Los Angeles County Superior Court judge to issue an order to that effect.

“The message is clear here: Do not underestimate Jeanie Buss,” her attorney, Adam Streisand, told the Los Angeles Times. “There is not going to be a palace coup. Not now. Not ever.”

Possibly the best possible news other than retaining our pick going into the summer. The confusion regarding ownership would have been hard to explain to any free agent.

Slava wrote:Possibly the best possible news other than retaining our pick going into the summer. The confusion regarding ownership would have been hard to explain to any free agent.

Absolutely. Credit Jeanie and her legal team of getting rid of this immediately and not letting it hang around.

Slava wrote:Possibly the best possible news other than retaining our pick going into the summer. The confusion regarding ownership would have been hard to explain to any free agent.

I thought this did the exact opposite... To most people the story was already over. Jeanie's Lawyer making that rather sophomoric statement just reestablishes the fact that there will likely NEVER be any clarity about the ownership of the Lakers as long as the Buss kids own it.
I mean really... It sounds like Barabara's kid is fully in for the Game of Thrones narrative surrounding the Spawn of Jerry...

Kilroy wrote:

Slava wrote:Possibly the best possible news other than retaining our pick going into the summer. The confusion regarding ownership would have been hard to explain to any free agent.

I thought this did the exact opposite... To most people the story was already over. Jeanie's Lawyer making that rather sophomoric statement just reestablishes the fact that there will likely NEVER be any clarity about the ownership of the Lakers as long as the Buss kids own it.
I mean really... It sounds like Barabara's kid is fully in for the Game of Thrones narrative surrounding the Spawn of Jerry...

Nah. Sounds pretty positive. Jim will now be collecting checks but he will have no input or influence on Lakers FO and operations.

DS17 wrote:

Kilroy wrote:

Slava wrote:Possibly the best possible news other than retaining our pick going into the summer. The confusion regarding ownership would have been hard to explain to any free agent.

I thought this did the exact opposite... To most people the story was already over. Jeanie's Lawyer making that rather sophomoric statement just reestablishes the fact that there will likely NEVER be any clarity about the ownership of the Lakers as long as the Buss kids own it.
I mean really... It sounds like Barabara's kid is fully in for the Game of Thrones narrative surrounding the Spawn of Jerry...

Nah. Sounds pretty positive. Jim will now be collecting checks but he will have no input or influence on Lakers FO and operations.

Only if you're naive enough to believe this is the end...
Know how you can tell when a Lawyer is full of ****?.. Well when he's talking, but you can really tell when he starts making definitive statements about the strength of his position.
What Streisand is really saying here is that they won round one, but he knows there's going to be a round 2 and he's not as sure about that one.
Jeannie firing Jim was the beginning of the end of the Buss family owning the Lakers. It's a matter of time now. The more either side's lawyer declares victory, the more sure it is that both sides are eventually going to lose.

In fact, it was probably a smart move by the brothers to take a step back now while the team has it's lowest value in a long time and wait for it to get back to winning before they take the fight to the next level.

Kilroy wrote:

DS17 wrote:

Kilroy wrote:
I thought this did the exact opposite... To most people the story was already over. Jeanie's Lawyer making that rather sophomoric statement just reestablishes the fact that there will likely NEVER be any clarity about the ownership of the Lakers as long as the Buss kids own it.
I mean really... It sounds like Barabara's kid is fully in for the Game of Thrones narrative surrounding the Spawn of Jerry...

Nah. Sounds pretty positive. Jim will now be collecting checks but he will have no input or influence on Lakers FO and operations.

Only if you're naive enough to believe this is the end...
Know how you can tell when a Lawyer is full of ****?.. Well when he's talking, but you can really tell when he starts making definitive statements about the strength of his position.
What Streisand is really saying here is that they won round one, but he knows there's going to be a round 2 and he's not as sure about that one.
Jeannie firing Jim was the beginning of the end of the Buss family owning the Lakers. It's a matter of time now. The more either side's lawyer declares victory, the more sure it is that both sides are eventually going to lose.

In fact, it was probably a smart move by the brothers to take a step back now while the team has it's lowest value in a long time and wait for it to get back to winning before they take the fight to the next level.

Jim is G O N E. He has been replaced as a board of director. This decreases his power further. How can he establish a coup when most of the trustees/board of directors are supporters of Jeanie?

Yeah it's legal and binding now. Can't get more secured than that.

DS17 wrote:

Kilroy wrote:

DS17 wrote:

Nah. Sounds pretty positive. Jim will now be collecting checks but he will have no input or influence on Lakers FO and operations.

Only if you're naive enough to believe this is the end...
Know how you can tell when a Lawyer is full of ****?.. Well when he's talking, but you can really tell when he starts making definitive statements about the strength of his position.
What Streisand is really saying here is that they won round one, but he knows there's going to be a round 2 and he's not as sure about that one.
Jeannie firing Jim was the beginning of the end of the Buss family owning the Lakers. It's a matter of time now. The more either side's lawyer declares victory, the more sure it is that both sides are eventually going to lose.

In fact, it was probably a smart move by the brothers to take a step back now while the team has it's lowest value in a long time and wait for it to get back to winning before they take the fight to the next level.

Jim is G O N E. He has been replaced as a board of director. This decreases his power further. How can he establish a coup when most of the trustees/board of directors are supporters of Jeanie?

If his goal is to eventually sell his shares (which im 100% sure this is what it is all about)it is irrelevant if he's on the board or not. As time passes you can be sure some of the other four siblings will want to sell their own shares as well to provide security for their children.

DS17 wrote:

Kilroy wrote:

DS17 wrote:

Nah. Sounds pretty positive. Jim will now be collecting checks but he will have no input or influence on Lakers FO and operations.

Only if you're naive enough to believe this is the end...
Know how you can tell when a Lawyer is full of ****?.. Well when he's talking, but you can really tell when he starts making definitive statements about the strength of his position.
What Streisand is really saying here is that they won round one, but he knows there's going to be a round 2 and he's not as sure about that one.
Jeannie firing Jim was the beginning of the end of the Buss family owning the Lakers. It's a matter of time now. The more either side's lawyer declares victory, the more sure it is that both sides are eventually going to lose.

In fact, it was probably a smart move by the brothers to take a step back now while the team has it's lowest value in a long time and wait for it to get back to winning before they take the fight to the next level.

Jim is G O N E. He has been replaced as a board of director. This decreases his power further. How can he establish a coup when most of the trustees/board of directors are supporters of Jeanie?

Easy. He could get a majority of the family to move to dissolve the trust. That's a nuclear option. That would effectively force a sale of the team. If Jeannie pushes the remaining family out of the picture they can dissolve the trust and cash in on the current value. That's a huge payday. Remember that they equally own the Lakers and as far as the trust is concerned it's outside the board and resides with just the beneficiaries and their personal legal teams.

This is a stay at best here. If Jim want's to go back to the beach and collect checks this is good. If he doesn't then he still has equal ownership in the trust and that is not insignificant.

Don't get me wrong, this is a positive development but it's by no means over. There are two sets of legal wranglings going on... business law and family law. This is a business law maneuver and it does nothing to the true ownership of the team. All it did was designate the decision making matrix.

Cool, Jim can go follow his passion for horses now. I have a feeling Johnny might clash with Jeanie since Jim is now out of the picture. After all, Johnny was on Jim's side for some reason. We'll see. Just glad that Jim is no where near the Lakers in this delicate time of rebuilding.

Kilroy wrote:

DS17 wrote:

Kilroy wrote:
I thought this did the exact opposite... To most people the story was already over. Jeanie's Lawyer making that rather sophomoric statement just reestablishes the fact that there will likely NEVER be any clarity about the ownership of the Lakers as long as the Buss kids own it.
I mean really... It sounds like Barabara's kid is fully in for the Game of Thrones narrative surrounding the Spawn of Jerry...

Nah. Sounds pretty positive. Jim will now be collecting checks but he will have no input or influence on Lakers FO and operations.

Only if you're naive enough to believe this is the end...
Know how you can tell when a Lawyer is full of ****?.. Well when he's talking, but you can really tell when he starts making definitive statements about the strength of his position.
What Streisand is really saying here is that they won round one, but he knows there's going to be a round 2 and he's not as sure about that one.
Jeannie firing Jim was the beginning of the end of the Buss family owning the Lakers. It's a matter of time now. The more either side's lawyer declares victory, the more sure it is that both sides are eventually going to lose.

In fact, it was probably a smart move by the brothers to take a step back now while the team has it's lowest value in a long time and wait for it to get back to winning before they take the fight to the next level.

You're right man, but the way it's set up with the trust, it's officially done unless they collectively decide as a group to sell the team. Even then, that would need to be voted on.

Also, it's set up so the people that control the trust are Janie, Jeanie, Johnny, Joey (and I think Jesse). They are behind Jeanie and will neutralize Johnny. Getting Janie on the trust is a big time move.

Didn't Jim agree to the new set of trustees like a week ago? Only real news today is that it's been confirmed that Jeanie remains in there as long as the family owns the team, which really does nothing for the real issue at hand, Jim trying to sell his part.

And he resigned his post on the board... He wasn't fired. Jeannie essentially threatened to mire the organization in legal action if he didn't... Making it hard to accomplish anything basketball related.

“Now with the Lakers having the ability to focus on the basketball court and not on the legal court, I think all Laker fans can breathe a sigh of relief,” Streisand said.

So yay... The bad guy quit. But only because the other spoiled brat threatened to tank the ability of the franchise to make significant decisions...

Does it really matter which idiotic "J" is in charge of this clown show?

Kilroy wrote:

Slava wrote:Possibly the best possible news other than retaining our pick going into the summer. The confusion regarding ownership would have been hard to explain to any free agent.

I thought this did the exact opposite... To most people the story was already over. Jeanie's Lawyer making that rather sophomoric statement just reestablishes the fact that there will likely NEVER be any clarity about the ownership of the Lakers as long as the Buss kids own it.
I mean really... It sounds like Barabara's kid is fully in for the Game of Thrones narrative surrounding the Spawn of Jerry...

No sounded like good news to me for now. PR win.

Game of Thrones Buss Edition

Michael Lucky wrote:

DS17 wrote:

Kilroy wrote:
Only if you're naive enough to believe this is the end...
Know how you can tell when a Lawyer is full of ****?.. Well when he's talking, but you can really tell when he starts making definitive statements about the strength of his position.
What Streisand is really saying here is that they won round one, but he knows there's going to be a round 2 and he's not as sure about that one.
Jeannie firing Jim was the beginning of the end of the Buss family owning the Lakers. It's a matter of time now. The more either side's lawyer declares victory, the more sure it is that both sides are eventually going to lose.

In fact, it was probably a smart move by the brothers to take a step back now while the team has it's lowest value in a long time and wait for it to get back to winning before they take the fight to the next level.

Jim is G O N E. He has been replaced as a board of director. This decreases his power further. How can he establish a coup when most of the trustees/board of directors are supporters of Jeanie?

If his goal is to eventually sell his shares (which im 100% sure this is what it is all about)it is irrelevant if he's on the board or not. As time passes you can be sure some of the other four siblings will want to sell their own shares as well to provide security for their children.

4 of the 6 children has to agree to dissolve the trust in order for the Buss's to sell the team. Johnny and Jim, I can see wanting to break up the trust and sell the team for their own interests. And apparently they tried. Joey and Jesse are youngest by over 20 years and will eventually inherit the Lakers, so I dont see them ever wanting the trust broken. Janie is currently on Jeanie's side but even if she flip I cant see Jeanie herself flipping to sell. Shes 55, unmarried, with no kids and president of the Lakers.

It seems like the only way Jim and Johnny were going to be able to sell was backdooring it, knocking their sibling out as directors and voting to dissolve and sell, which I wonder if it wouldve stood up in court anyway.

The kids need to get together and figure out how to get the ship going in the right direction. Once they get the value back up they should dissolve the trust and sell their respective stakes. Ohhh the tax liability! Lol

Death tax is a joke!