Does Jerry Buss still own the Lakers?
The Los Angeles Lakers have been a household name for the past four decades. They have won 16 NBA championships and are one of the most recognizable teams in the world. But who owns the Lakers? Does Jerry Buss still own the Lakers?
Jerry Buss was the owner of the Lakers from 1979 until his death in 2013, when his family took over ownership of the team. Prior to his death, Buss had full ownership of the team, but after his death the team was divided among his six children. Five of the children, Johnny, Jim, Jeanie, Janie, and Joey, each own one-sixth of the team, while a trust fund owns the remaining one-sixth.
The Lakers are currently owned by the Buss family trust, which is administered by Jeanie Buss, the team’s president and controlling owner. She is the sister of Johnny Buss, Jim Buss, Janie, and Joey Buss, and the daughter of Jerry Buss. Jeanie has full control of the team and is responsible for all major decisions. She has said that she will keep the team in the Buss family in the future.
Jerry Buss was a legendary NBA owner and his influence on the Lakers is still felt today. Under his ownership, the Lakers won 10 championships, and he was a major part of the team’s success. Even though Jerry Buss is no longer the owner of the Lakers, the team still remains in the Buss family and the legacy of Jerry Buss will live on with the team.
Unveiling the Truth about Jerry Buss’ Ownership of the Los Angeles Lakers
In the sports world, the Los Angeles Lakers and their legendary owner, Jerry Buss, are inextricably linked. But what few people know is that Buss has not been the sole owner of the team since 1979. He passed away in 2013, and since then, his ownership has changed hands multiple times. In this article, we will uncover the truth about Jerry Buss’ ownership of the Los Angeles Lakers and take a look at who owns them today.
When Jerry Buss purchased the Lakers in 1979, he purchased 60% of the team from Jack Kent Cooke for a record sum of $67.5 million. Buss held onto the majority of the ownership until his death in 2013. At that point, his estate took control and sold the majority of their shares. Buss’ daughter, Jeanie, was the sole remaining owner of the Lakers until 2017 when she and her brothers, Johnny and Jim, sold a 10% stake in the team to the Guggenheim Group. The terms of the deal stated that the Guggenheim Group would also receive a seat on the board of governors and a say in the team’s decision-making.
Today, the majority of the ownership of the Lakers is held by the Buss family. Jeanie Buss, who serves as the team’s president, holds the largest stake with a 50% stake. Her brothers, Johnny and Jim, each have 20% stakes, while the Guggenheim Group holds the remaining 10%.
It is important to note that, while the Buss family still holds the majority of the ownership of the Los Angeles Lakers, they no longer have full control of the team. They must now make decisions with the Guggenheim Group’s input and approval. This is a stark contrast to how the team operated when Jerry Buss was in control.
In summary, the Los Angeles Lakers are still owned by the Buss family. However, since the death of Jerry Buss in 2013, the ownership structure has changed, with the Guggenheim Group now owning 10% of the team. The Buss family still holds the majority of ownership, but now have to make decisions with the Guggenheim Group’s approval.
| Owner | Stake |
|---|---|
| Buss Family | 80% |
| Guggenheim Group | 10% |
Exploring Jerry Buss’ Continuing Influence on the Lakers Franchise
Jerry Buss is a legendary figure in the world of basketball. He was the owner and president of the Los Angeles Lakers from 1979 to 2013, and his influence can still be felt within the franchise today. Buss passed away in 2013, but his legacy and impact on the Lakers will be remembered for many years to come.
From 1981 to 2013, the Lakers won ten NBA Championships under the leadership of Buss. He was relentless in his pursuit of success, often making bold moves to acquire the best players and staff for the team. Buss was known for his willingness to spend big on players, resulting in the Lakers becoming one of the most successful franchises in the league.
Buss also had an eye for talent, signing Hall of Famers such as Magic Johnson, Shaquille O’Neal, and Kobe Bryant. His ability to identify and secure the best players was a major factor in the Lakers becoming a powerhouse in the NBA. Additionally, Buss was a master negotiator, and his savvy business moves resulted in numerous lucrative contracts for the Lakers.
Despite Buss’ death in 2013, his legacy continues to live on in the Lakers organization. His son, Jim Buss, currently serves as the team’s executive vice president of basketball operations, and he has continued to carry on his father’s vision for the team. The Lakers are also still competing for championships and are considered to be one of the best teams in the league.
It is clear that Jerry Buss continues to have an immense influence on the Lakers franchise. His savvy business moves, ability to recognize and acquire talent, and passion for the game continues to be felt in the Lakers organization. Buss will always be remembered as one of the greatest owners and presidents in NBA history, and his influence will continue to be felt in the Lakers organization for years to come.
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