Jim Buss is no longer a trustee of the Los Angeles Lakers after a month-long battle in which he attempted to wrest control of the franchise from his sister Jeanie. That gambit failed miserably, and now Jim is essentially out of the family business.
Jim and his brother Johnny joined Jeanie on Monday in Los Angeles Superior Court, where they asked a judge to issue an order that stated Jeanie was to remain the Lakers’ controlling owner for as long as the family owns the team. Jim and Johnny attempted to usurp Jeanie’s control earlier this month by ousting her from the team’s board of directors. Jeanie filed a temporary restraining order to prevent the move, and it fizzled.
As part of the new agreement, Jim was forced to resign as co-trustee without a financial settlement. Had he not done so, Jeanie was going to ask the court to remove him from the position. Given the actions Jim took against her, that almost certainly wouldn’t have ended well for him. A probate court trial that was scheduled for May 15 will not happen, and the matter is considered resolved. At least for now.
Given their idiotic actions, it’s fairly clear Jim and Johnny are essentially Fredo and the other Fredo.
So Jim Buss’ association with the Lakers is officially over. His sister Janie has taken his spot, which means she has joined Jeanie and Johnny as co-trustees of the team. She and Johnny also had to sign an agreement that stated they would do everything to “ensure” Jeanie stays the owner and director of the team.
As Jeanie’s lawyer Adam Streisand told the Los Angeles Times, “The message is clear here: Do not underestimate Jeanie Buss.”
Yeah, no kidding. Also, don’t underestimate Jim Buss’ ability to fail miserably. His big power move was akin to pushing all-in with a pair of fours when his opponent was clearly holding a flush. The man is a terrible gambler, and he just cost himself a piece of an NBA franchise.