How Buss Family Infighting Led to the Historic $10 Billion Lakers Sale
The Los Angeles Lakers have long been the crown jewel of the NBA, a franchise synonymous with Hollywood glamour, championship banners, and global icons. However, beneath the surface of the Showtime legacy, a decade of internal resentment, power struggles, and family dysfunction ultimately paved the way for the most significant transaction in sports history. The recent news regarding the Los Angeles Lakers sale for a staggering $10 billion marks the end of an era for the Buss family, a dynasty that defined modern professional basketball.
The Shadow of Dr. Jerry Buss
To understand the collapse of the family’s hold on the team, one must look back to the passing of Dr. Jerry Buss in 2013. Dr. Buss was the visionary who transformed the Lakers into a global brand, but his succession plan inadvertently set the stage for years of conflict. By splitting the team’s ownership among his six children through a complicated trust, he ensured that no single heir had absolute control without the cooperation of the others.
While Jeanie Buss was designated as the team’s governor and front-facing leader, her brother Jim Buss was given control over basketball operations. This division of power created an immediate friction point. The post-Jerry Buss era was quickly defined by a lack of cohesion, as the siblings' differing visions for the franchise began to clash in the high-stakes environment of the NBA.
The 2017 Palace Coup and Legal Warfare
The tension reached a breaking point in 2017 during what has been described as a "palace coup." Jim Buss and Johnny Buss attempted to bypass the established board structure to oust Jeanie from her position as controlling owner. The move was a desperate bid to regain influence as the team struggled on the court during the final years of Kobe Bryant's career and the lean years that followed.
Jeanie Buss responded with decisive legal action, effectively outmaneuvering her brothers to retain her seat at the head of the table. While she emerged victorious, the legal battle left deep scars within the family. The Los Angeles Lakers sale became an increasingly discussed possibility as the financial and emotional toll of maintaining a family-owned business in a multibillion-dollar industry became apparent.
Financial Pressures in the Modern NBA
While the infighting provided the drama, the economic reality of the modern NBA provided the necessity for a sale. The Lakers remained the most valuable family-owned franchise in the world, but the costs of competing at the highest level—specifically the escalating luxury tax and the need for massive capital improvements—began to outpace the liquid assets of a family whose primary wealth was tied up in the team itself.
During the tenure of LeBron James, the Lakers managed to capture the 2020 NBA Championship, providing a brief moment of unity and triumph. However, the underlying financial pressures did not dissipate. As team valuations across the league skyrocketed, the prospect of a $10 billion exit became too significant to ignore, especially given the fractured nature of the ownership group.
A New Era Under Mark Walter
The transition of the franchise to Mark Walter, the billionaire CEO of Guggenheim Partners and owner of the Los Angeles Dodgers, represents a shift from a family legacy to a corporate powerhouse. Walter’s acquisition ensures that the Lakers have the financial backing necessary to navigate the increasingly expensive landscape of the NBA’s collective bargaining agreements.
The Los Angeles Lakers sale is not just a financial transaction; it is the final chapter of a family saga that saw the highest of highs and the lowest of lows. For fans, the hope is that the stability offered by Walter’s ownership will allow the team to focus entirely on adding to their 17 championship trophies, free from the distractions of the boardroom battles that defined the last decade.
The Legacy of the Buss Era
Despite the contentious ending, the Buss family’s impact on the NBA cannot be overstated. Under their watch, the Lakers became a global phenomenon, home to legends like Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, and LeBron James. While the family infighting ultimately drove the sale, the $10 billion price tag is a testament to the incredible value Dr. Jerry Buss built from the ground up since 1979.
- Record Valuation: The $10 billion sale sets a new benchmark for professional sports franchises.
- Ownership Transition: Mark Walter takes the reins of a franchise looking to stabilize its front office.
- End of a Dynasty: The Buss family’s 45-year run as primary owners concludes amidst internal conflict.
