The legal battle to control the Los Angeles Lakers is essentially over as controlling owner Jeanie Buss has removed her brother Jim Buss as a trustee and replaced him with her younger sister Janie Buss, according to documents entered into Los Angeles Superior Court on Monday morning.
The court agreed that the three trustees are obligated to do everything in their power to ensure Jeanie Buss remains both the Lakers controlling owner and head of the Lakers board of directors for life.
"It's great that we were able to work this out so fast. We've resolved everything clearly and cleanly and now we can get back to work," Jeanie Buss told ESPN. "Laker fans deserve success -- and now we can focus again on bringing it to them.
"I'm also very happy that my sister Janie is becoming a trustee of my family's Trust. I love her, I trust her and I'm excited to work alongside her."
The three siblings are co-trustees of four trusts that own 66 percent of the Lakers. On March 2, Jeanie Buss had filed a lawsuit in probate court after her older brothers Johnny and Jim Buss appeared to stage a coup to oust her from the board of directors. The hearing to settle that lawsuit -- scheduled for May 15 -- has now been cancelled after Jim Buss agreed to step down as a trustee and signed documents to that effect last week, according to a source with knowledge of the situation.
According to sources close to the situation, neither brother was given any additional financial settlement beyond what'd they'd be entitled to through yearly salaries and disbursements from the trust.
The addition of Janie Buss firmly tilts the balance of power and solidifies Jeanie Buss' position as the head of the franchise.
"Jeanie is captain of the ship," Janie Buss told ESPN. "My sister is the one who finally played her aces. I'm just behind her. I've always been behind her. Now she can focus on where the Lakers need to go.
"This is a new beginning for us as a team. Now we don't need to worry about this family stuff. We can focus on the Lakers now."
NBA commissioner Adam Silver also expressed appreciation for the ordeal being over.
"We are pleased that this matter has been resolved," he said. "Jeanie is as knowledgeable and experienced as any owner in sports and the Lakers are in great hands."