Lakers brothers Joey and Jesse Buss introduce Buss Sports Capital for global sports investments
lakers-buss-sports-capital-launch
Los Angeles Lakers executives Joey and Jesse Buss have formed a new investment firm, Buss Sports Capital, aimed at purchasing and partnering with sports properties worldwide, the brothers told ESPN.
Joey Buss, who serves as the Lakers’ alternate governor and vice president of research and development, said the venture will focus on “strategic investments and good partners” while remaining separate from the family’s interests in the NBA franchise. “Buss Sports Capital is not going to compete with our interests in the Lakers or the NBA,” he noted. “This is our first step to where the future of sports is going to lead us.”
Jesse Buss, the team’s assistant general manager, added that the project honors their late father, Dr. Jerry Buss. “I look forward to working with my brother, Joey, for the next 50 years, and hopefully this is something that can live through our children. That’s what our dad would have wanted,” he said.
The launch comes as the Buss family prepares to relinquish majority control of the Lakers. Earlier this year the family agreed to sell most of its stake to Mark Walter—chief executive officer and chairman of TWG Global and controlling owner of the Los Angeles Dodgers—in a deal that values the NBA franchise at $10 billion, a record figure for professional sports. Despite the change in ownership, Jeanie Buss will continue as team governor, while Joey and Jesse are expected to retain their front-office roles.
With Buss Sports Capital, the brothers intend to leverage their experience in basketball operations and player development to identify opportunities across the broader sports landscape. Specific targets or timelines for acquisitions were not disclosed.
Source: Lakers Nation
