Back in 2022, Jeanie Buss told The Los Angeles Times that she hadn’t given any thought to selling the Lakers, explaining that her late father Jerry Buss always wanted to keep the team in the family. However, Jeanie had a change of heart in the years since then, spearheading a 2025 effort to sell majority control of the franchise to minority stakeholder Mark Walter.
According to Alex Sherman and Jessica Golden of CNBC, Jeanie insists that Jerry would’ve supported the family’s decision to sell the team.
“What was important to him was that the Lakers stay at the top of the NBA, and to stay at the top of the NBA, you need to have the resources,” she said. “You need to have everybody pulling together. And he would want (that for) the Lakers, because the Lakers are his legacy.”
Although an NBA team’s ability to spend is restricted to some extent by the league’s salary cap, it’s a soft cap, so having a deep-pocketed owner who is willing to repeatedly pay luxury tax penalties can give a club a leg up on its competition. That sort of owner may also be more inclined to invest in a team’s infrastructure and personnel beyond its roster.
Walter’s net worth far exceeded that of the Buss family, which was one factor Jeanie and her siblings considered when they decided to sell to the Los Angeles Dodgers owner, who previously controlled a 27% share of the Lakers.
“It’s about the Lakers and the greatness and what the fans expect, and you need resources and you need a direction,” she explained. “I think it’s fair to say that my family — we all have our different opinions and (are) living our lives, choosing what we want to do with our time, and this was the best decision for all six of us.”
As Sherman and Golden write, as part of the sale process, the Buss family retained a 15% stake in the franchise, which will allow Jeanie to continue to operate as governor going forward. The team announced when the sale was finalized that she will remain in that role for another five years, though she didn’t explicitly confirm to CNBC that she plans to see out the full term.
“That’s what I agreed to,” Buss said. “Mark Walter and I are very comfortable with the way things are set up. And I expect things to go on and be successful. And you know, I’m not going anywhere.”
Buss also told CNBC that the Lakers intend to build around Luka Doncic this summer and beyond. That doesn’t necessarily mean LeBron James‘ time with the club will come to an end this offseason, but Buss said the four-time MVP, who was the centerpiece of the roster for several years prior to the Doncic trade, hasn’t conveyed to management that he plans to continue playing in Los Angeles beyond this 2025/26.
“Never say never, but you know, he certainly hasn’t given an indication,” she said. “He’s earned the right to decide how his career will go, and you know, he continues to impress.”
Would Dr Buss have supported her telling her younger siblings they never should have been born though?
anyone else read that espn story a few weeks ago?
a family has been completely torn apart bec of the lakers ownership, management, $, greed… maybe daddy buss could have done a better job of leaving behind a very clear message of what direction he wanted the franchise to go in… but its very sad…
She gives me Cersei Lannister vibes
Yeah right!