The Los Angeles Lakers’ four-decade run as a purely family-owned franchise is ending after controlling owner Jeanie Buss and her siblings agreed to sell a majority stake to billionaire Mark Walter, principal owner of the Los Angeles Dodgers. Buss said her late father, Hall of Fame owner Dr. Jerry Buss, would have endorsed the decision.
“What was important to him was that the Lakers stay at the top of the NBA,” Jeanie Buss told CNBC’s Alex Sherman. “To stay at the top, you need to have the resources. He would want that for the Lakers, because the Lakers are his legacy.”
Buss emphasized that all six Buss siblings participated in the deliberations. “It’s about the Lakers and the greatness and what the fans expect, and you need resources and you need a direction,” she said. “This was the best decision for all six of us.”
New financial muscle
Walter, whose investment group bought the Dodgers in 2012, brings significant capital and a recent track record of championship success. Lakers vice president of basketball operations and general manager Rob Pelinka said he has already spoken with Walter about modeling the NBA club’s operations after the Dodgers.
Leadership structure
Jeanie Buss will remain team governor and continue working alongside Walter. The move is expected to end long-running internal disputes within the Buss family while opening the door for organizational changes once the offseason begins.
On-court future
The ownership change comes as the Lakers plan to build around recently acquired superstar Luka Dončić. Buss also acknowledged that LeBron James’ future with the franchise remains uncertain.
The sale awaits final league approval, but a new era for the Lakers—and their purple-and-gold brand—appears imminent.
Source: LakersNation.com
