Connect with us

Sports

Los Angeles Lakers: Jeanie Buss seeks to block sale of family’s 17.8% stake

Published

on

Los Angeles Lakers governor Jeanie Buss is trying to block her siblings’ sale of her family’s remaining stake in the NBA franchise.

Josh Kushner, the brother of US President Donald Trump’s son-in-law Jared, and former Disney chief executive Bob Iger agreed a deal last week to buy the controlling interest in one of the world’s most iconic sports teams from Mark Walter for $12.5bn (£9.3bn).

Walter bought his share from the Buss family last year for about $10bn (£7.45bn) in a deal that ensured Jeanie remained as governor until 2030.

The Buss family, who have been either a primary or minority owner of the Lakers since 1979, released a statement on Monday saying they had voted to sell their remaining 17.8% stake to the incoming owners.

“We have decided as a family to sell the remaining Buss Family Trust shares to the Bob Iger group as part of the ongoing transaction,” the statement read.

“We love the Lakers, Lakers fans and will continue to support Los Angeles; but it is time to use this opportunity to move on and exit gracefully while we still can.”

However, Jeanie’s lawyer has now said she plans to fight her siblings’ plan to sell.

The Buss family trust comprises of Jerry Buss’ six children, with Jeanie serving as the governor of the Lakers since her father’s death in 2013.

Jeanie’s lawyer Adam Streisand said in a letter to her five siblings that any vote for a sale “would be and is void” because her approval as one of three co-trustees, along with siblings Joey and Janie Buss, is needed for such a move.

“Co-trustees are bound to vote to ensure that the minimum 15% ownership requirement is maintained in order to ensure that Jeanie Buss may remain controlling owner,” the letter said, according to ESPN, external.

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

“On behalf of Jeanie Buss, I demand that your clients make clear publicly that Jeanie Buss is the controlling owner of the Los Angeles Lakers and that your clients shall take no action on this supposed ‘vote’ to sell the 17.8% stake.”

>

Continue Reading

Sports

What’s an extra half mile? Edmonton Marathon apologizes after miscalculating length of race

Published

on

It took a while, but the Edmonton Marathon admits it was too long. The race was 674 meters longer than the event’s 26.2-mile distance, organizers admitted Tuesday in a statement and apologized for miscalculating the length of its marathon and half-marathon races.

“The review has identified an error in how this year’s detour-related course adjustments were calculated, and for that we sincerely apologize,” race director Tom Keogh said in the statement. “The event owns this error, and we take full responsibility. We appreciate the many participants who have emailed and the ones that we have followed up with to have additional conversations.”

After receiving complaints from runners, the organization initially defended its course and measurements, but Keogh said later that the certification process was done “with the best information it had at the time,” as additional distance had been added due to a bridge detour. According to Keogh, the original distance was “partially offset with adjustments made to the course’s west end turnaround point.”

Upon further review, the organization determined that the turnaround point didn’t fully offset the additional detour, resulting in an extra distance of 674.4 meters (approximately 0.42 miles) for the half-marathon and marathon courses.

The half marathon, which served as the Canadian Half Marathon Championships, was won by Rory Linkletter and Jadyn Keeler. After the race, Linkletter was among the most vocal critics to speak out about the length of the course and the difference between the GPS and map data change from 2025 to 2026.

“This makes no sense,” Linkletter said in a video posted to Instagram before Tuesday’s statement. “The right thing to do here is to re-measure the course, admit that this was a long course and let people have the satisfaction that, ‘Hey, for 21.85k I ran 64.30 something.’ … That would make everyone feel better. Instead, you’re telling us, ‘You actually ran slow.’”

Some participants ran qualifying times for future races such as the Boston Marathon, and the organization said it is working with Athletics Canada and relevant partners to determine how this year’s results can be recognized.

This event marked the 35th edition of the marathon race in Edmonton, which is often called the Friendly Marathon.

>

Continue Reading

Sports

Irish Premiership: Cliftonville ‘not a plaything for TIG’ – Conor Devine

Published

on

TIG’s takeover has been a far from a smooth journey and has taken over two years with their first attempt halted when club members stopped talks before the group took their offer off the table in January.

However, in June, the members authorised for the club’s management committee to enter formal negotiations with TIG and Monday’s eventual vote passed with 81% in favour.

“If you stand back and look at this, Cliftonville is a club that is held dearly by so many people,” he added.

“It was owned and controlled by the membership, so obviously, members are going to be reluctant to let it go effectively, especially to a private company. I understand all of the complexities around that.

“If you want to be open and honest about it, it just goes to show how much this club means to people. I just hope when it is complete, we can move together stronger as a team.”

Devine added that the Canadian consortium will be investing long-term and that it is a “passion project” for the group.

“This is a long-term play, this is not a five, six or a seven-year thing,” said Devine.

“One of the first things the guys said to me when we looked at this was that they are 25-year people, they are long-term. That is very unusual.

“These guys have spoken about ROIs [return on investment] or return in money; this is a passion project and an impact investment into the local area.”

>

Continue Reading

Sports

England's two-man show – Tongue and Robinson take five wickets each

Published

on

Ollie Robinson and Josh Tongue have a day to remember as they both take five-wicket hauls, as England bowl Pakistan out for 171 on day one of the first Test at Headingley.

>

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.