Jeanie Buss opposes the sale of Lakers stake to Bob Iger and Joshua Kushner

Los Angeles Lakers governor Jeanie Buss opposes the possible sale of her family’s stake in the NBA team, contradicting an earlier ESPN report about the family’s decision to sell Bob Iger and Joshua Kushner.

In a letter obtained by CNBC addressed to the law firms representing Jeanie Buss’ siblings (Jim, Johnny, Janie, Joey and Jesse), her attorney Adam Streisand says that Jeanie Buss has not agreed to sell the team and that any vote suggesting the Buss family is selling “would be and is void.”

Streisand argues in the letter that Jeanie Buss remains the Lakers’ majority shareholder, pursuant to a 2017 court order, and that no sale can take place without her consent.

“No sale of the JAB Trust’s 17.8% ownership interest in the Los Angeles Lakers, Inc. may be effected without the approval of the current co-trustees, i.e., Jeanie, Janie and Joey Buss. Pursuant to the JAB Trust and the accompanying court order, the co-trustees are required to vote the shares of the Los Angeles Lakers, Inc. to ensure that the minimum 15% ownership requirement is maintained to ensure that Jeanie Buss can continue having control. Owner,” Streisand says in the letter.

“Any attempt by the co-trustees to do otherwise, and any attempt to aid or abet the co-trustees as such, would constitute a breach of trust, a breach of fiduciary duty and would be a contempt of court,” it says.

Last week, Iger and Kushner agreed to buy out Mark Walter’s majority stake in the Lakers. That deal valued the team at $12.5 billion, CNBC reported at the time. The Buss family’s involvement would have meant a total ownership stake in the team of approximately 83% for the former Disney CEO and founder of Thrive Capital, ESPN reported.

But Jeanie Buss does not want to sell the family’s stake in the team at this time, according to a person familiar with the matter, who spoke on condition of anonymity discussing confidential matters. She wants to retain ownership of the team for value reasons, as well as to maintain her role as governor, the person said.

Read the full letter from Jeanie Buss’ attorney:

This story is developing. Please check back for updates.

Correction: A previous headline of this article misidentified one of the potential buyers of the Buss family’s stake in the Los Angeles Lakers.