Lakers Ownership: Will The Buss Family Sell?

The Los Angeles Lakers are one of the most iconic and successful franchises in NBA history. A significant part of their legacy is tied to the Buss family, who have owned the team for decades. However, questions about the future ownership of the Lakers continually arise, especially concerning whether the Buss family might consider selling the team. This article delves into the history of the Buss family's ownership, the current state of affairs, and the likelihood of a sale.

The Buss Family Dynasty: A History of Lakers Ownership

The Lakers' story is inextricably linked with the Buss family. Jerry Buss, a real estate investor, purchased the team in 1979 from Jack Kent Cooke. This acquisition marked the beginning of a golden era for the Lakers, characterized by Showtime basketball, multiple championships, and a glamorous image that extended beyond the sport. Under Jerry Buss's leadership, the Lakers became a global brand, attracting fans and celebrities alike.

Jerry Buss was not just an owner; he was a visionary. He understood the entertainment value of basketball and created an atmosphere that made Lakers games an event. His emphasis on star power, coupled with a commitment to winning, resulted in one of the most dominant dynasties in NBA history. Magic Johnson, Kareem Abdul-Jabbar, Shaquille O'Neal, and Kobe Bryant all led the Lakers to championships under his ownership. Buss's hands-on approach and genuine love for the game endeared him to fans and players alike.

Upon Jerry Buss's death in 2013, ownership of the Lakers passed to his six children: Jeanie, Jim, Johnny, Joey, Jesse, and Janie. Each sibling inherited an equal share of the team, but Jeanie Buss assumed the role of controlling owner and team president. This transition, however, was not without its challenges. The siblings had different ideas about the direction of the team, leading to internal conflicts and power struggles. Despite these challenges, Jeanie Buss has strived to maintain her father's legacy and guide the Lakers back to championship contention.

Current State of Lakers Ownership

Currently, the Buss family retains control of the Los Angeles Lakers. Jeanie Buss, as the controlling owner, has the final say in all major decisions related to the team. Her leadership has been focused on modernizing the organization while honoring the traditions established by her father. This involves balancing the need for innovation with the rich history of the franchise.

Jeanie Buss has made significant changes to the Lakers' front office and coaching staff in recent years. She brought in Magic Johnson as an advisor, then later as President of Basketball Operations, and eventually hired Rob Pelinka as the General Manager. While the partnership with Magic Johnson didn't last, Pelinka has remained and played a crucial role in the Lakers' recent success, including the acquisition of LeBron James and the 2020 NBA championship. These moves demonstrate Jeanie's willingness to make bold decisions to improve the team's performance.

Financially, the Lakers remain one of the most valuable franchises in the NBA. Their brand recognition, coupled with their location in a major market, ensures a steady stream of revenue. The team's value has continued to increase, making it an attractive asset. However, the financial aspects of owning an NBA team are complex, with significant expenses related to player salaries, arena maintenance, and other operational costs. The Buss family has navigated these challenges effectively, maintaining the Lakers' financial stability.

Factors Influencing a Potential Sale

The question of whether the Buss family might sell the Lakers is a complex one, influenced by various factors. While there is no indication that the family is actively looking to sell, several considerations could potentially lead to a change in ownership in the future.

Financial Considerations

The increasing value of NBA franchises makes them attractive assets for potential buyers. The Lakers, as one of the most valuable teams, would command a significant price. If the Buss family were to receive an offer that was too good to refuse, they might consider selling. However, the family's deep emotional connection to the team and their desire to maintain control are strong counterarguments.

Estate taxes and inheritance issues could also play a role. Passing ownership of the team down through future generations could create complex financial challenges. A sale could provide a way to simplify these issues and ensure the family's long-term financial security.

Internal Family Dynamics

The Buss family's internal dynamics are another important factor. While Jeanie Buss is the controlling owner, her siblings also have a stake in the team. Disagreements among the siblings about the direction of the team or the future of the franchise could potentially lead to a decision to sell. However, the family has generally presented a united front in recent years, suggesting that they are committed to working together.

Performance of the Team

The Lakers' performance on the court can also influence the ownership situation. If the team consistently struggles and fails to compete for championships, the pressure on the Buss family to make changes could increase. While a sale is not necessarily the first option, it could become a consideration if the family believes that new ownership is needed to turn the team around. However, the Lakers' recent championship and continued competitiveness suggest that this is not an immediate concern.

Likelihood of a Sale

As of now, the likelihood of the Buss family selling the Lakers appears to be low. Jeanie Buss has repeatedly stated her commitment to keeping the team in the family. She sees herself as a steward of her father's legacy and is determined to maintain the Buss family's ownership for generations to come.

However, it is important to acknowledge that circumstances can change. The factors mentioned above, such as financial considerations, internal family dynamics, and the team's performance, could all influence the future ownership of the Lakers. While a sale is not imminent, it cannot be ruled out entirely.

Potential Buyers

If the Lakers were to become available for sale, there would be no shortage of potential buyers. Wealthy individuals, investment groups, and even other sports franchise owners would likely be interested in acquiring the team. The Lakers' brand recognition, coupled with their location in Los Angeles, makes them a highly desirable asset.

Some potential buyers that have been mentioned in the past include: Tech billionaires, Entertainment Moguls and Global Investment Firms. These entities have the financial resources and expertise to manage a team like the Lakers. However, any potential buyer would need to be approved by the NBA, which has its own set of criteria for ownership.

The Future of Lakers Ownership

The future of Lakers ownership remains uncertain, but for now, the Buss family is firmly in control. Jeanie Buss's leadership and the team's recent success have solidified their position. While the possibility of a sale cannot be entirely dismissed, it appears unlikely in the near future. The Buss family's legacy is deeply intertwined with the Lakers, and they are committed to preserving that legacy for years to come.

In conclusion, the question of whether the Buss family will sell the Lakers is a complex one with no easy answer. While there are factors that could potentially lead to a sale, the family's commitment to the team and their desire to maintain control suggest that they will remain the owners for the foreseeable future. The Lakers' fans can take comfort in knowing that the team is in the hands of a family that is deeply passionate about the franchise and its history.