Legal wrangling over $12.5B Lakers sale shows how family trusts don’t guarantee a business stays in the family

By Reid Kress Weisbord, Distinguished Professor of Law, Rutgers University - Newark
Naomi Cahn, Professor of Law, University of Virginia

The Buss family’s 47-year ownership of the Los Angeles Lakers, 17-time NBA champions, could soon come to an end despite their patriarch’s clear wishes before he died. A group of investors that includes former Disney CEO Bob Iger and Joshua Kushner – the brother of Jared Kushner, President Donald Trump’s son-in-law – wants to buy the basketball team for US$12.5 billion.

The pending deal would…

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