The Buss family has officially pocketed billions after selling a majority stake in the Los Angeles Lakers.
The storied NBA franchise, once bought by Dr. Jerry Buss decades ago, now has a new controlling owner: Los Angeles sports mogul Mark Walter, who purchased the team for a staggering $10 billion.
Billion-Dollar Windfall for the Buss Children
The sale has left Jeanie, Johnny, Jim, Janie, Jesse, and Joey Buss each walking away with nearly $1 billion, according to Sports Business Journal.
While the family retains a 15 percent minority stake, Jeanie Buss will continue as the Lakers’ governor for the next five years, maintaining a visible presence in team operations.
End of an Era
The NBA gave the green light for the sale in October, marking the end of 46 years of majority ownership by the Buss family.
Since Jerry Buss passed away in 2013, his children have overseen the team, with Jeanie at the helm. B
ut the transition hasn’t been smooth for all siblings.
Brothers Out of the Front Office
Last Thursday, Jesse and Joey Buss were let go from their scouting roles.
Speaking to The Athletic shortly afterward, Jesse didn’t hold back, revealing he hadn’t spoken to Jeanie or Lakers GM Rob Pelinka in five months.
“Sometimes within the organization, I felt like I was working against them,” Jesse said.
“The only thing I ever wanted was the most success for this team.”
New Ventures and Tensions
Two months ago, Jesse and Joey launched their own investment firm, Sports Capital Group.
Jesse emphasized that the firm wasn’t intended to compete with his sister or cause family drama.
“It was something Joey and I wanted to do together,” he said.
When asked whether the company worsened any rifts with Jeanie, Jesse deflected: “I think that’s something you’d have to ask her.”
Challenges Behind the Scenes
Jesse described feeling siloed within the organization even before the 2023 draft.
On top of professional tensions, he has been dealing with health issues, which he says compounded the feeling of isolation.
“There was a lack of communication between my sister and me and the organization while I was handling various health problems,” he said.
“The sale of the team just kind of solidified that reality for me.”
Honoring Jerry Buss’ Legacy
Jesse recalled that his father had envisioned his sons managing basketball operations.
Despite the shake-ups, Jesse stressed that his ultimate goal remains the success of the Lakers.
Lakers on the Court
On the hardwood, the Lakers are holding strong.
Los Angeles currently sits fourth in the Western Conference, just three-and-a-half games behind the leaders, showing that despite the family drama off the court, the team is performing well in the standings.
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