The Los Angeles Lakers are a professional basketball team based in Los Angeles and one of the most successful teams in the National Basketball Association (NBA). The Lakers are owned by a group of investors led by Jeanie Buss, the controlling owner and President of the Lakers organization. Buss inherited ownership of the team from her father Jerry, who had acquired the team in 1979.
Jeanie Buss serves as the Lakers’ Governor. The team is owned by several other shareholders, including the Buss Family Trust, Joe and the late Jim Buss, Johnny Buss, and the late Jerry Buss’s widow Joanne. The Buss family trust is the majority owner of the Lakers, with 67% of the ownership, followed by Jeanie Buss with 17%. The remaining 16% of the ownership is held by five other members of the Buss family.
The Lakers have won 16 championships in the NBA, the most of any other team in the league. The Lakers also have a long history of success in the sport, with a number of Hall of Fame players and coaches. They are considered one of the most successful franchises in all of professional sports.
The Lakers have several high-profile celebrity fans, including Magic Johnson, Kobe Bryant, Snoop Dogg, and Jack Nicholson. The team is widely known for its passionate fan base, many of whom have been loyal supporters for decades. The Lakers are one of the most valuable sports franchises in the world, with an estimated worth of $3.7 billion.
The Lakers have had an array of different owners throughout their history, but the Buss family has been the majority owner since 1979. The Buss family has been instrumental in the development and success of the Lakers, and have remained dedicated to the team.
Who is the New Owner of the Los Angeles Lakers?
On March 27th, 2021, the Los Angeles Lakers announced that Jeanie Marie Buss had sold the team to a new ownership group led by former Microsoft CEO Steve Ballmer. The Ballmer-led group purchased the team from Jeanie Marie Buss for a reported $3.3 billion, the highest sale price for an NBA team in history. The agreement also included the Lakers’ G league affiliate, South Bay Lakers. After the purchase, Ballmer became the new controlling owner and Governor of the Lakers, replacing Jeanie Marie Buss, who had held the role since her father, Jerry Buss, passed away in 2013.
The Ballmer-led group, which also includes Mavericks owner Mark Cuban and former NBA players Magic Johnson and Wes Edens, acquired the Lakers after a lengthy bidding process. According to sources, at least five bidding groups submitted offers for the team. After a thorough review of the offers, Jeanie Marie Buss and the Lakers’ Board of Governors selected the Ballmer-led group as the winning bidder.
The $3.3 billion purchase price is a record for an NBA team and is more than double the previous record for an NBA team, which was set when the Houston Rockets were sold in 2017 for $2.2 billion. The purchase also includes a 25% stake in the Lakers’ flagship TV network, Spectrum SportsNet, which airs all of the team’s games.
Under the new ownership, the Lakers will continue to be led by President of Basketball Operations, Rob Pelinka, and Head Coach, Frank Vogel. Jim Buss will remain as the team’s Governor, while Jeanie Marie Buss will remain with the organization as its controlling owner and Governor. With the new ownership in place, the Lakers will continue to strive to bring the championship success that the franchise has enjoyed for much of its history.
Who Bought the Los Angeles Lakers Franchise?
The Los Angeles Lakers franchise has been owned by the Buss family since 1979, when Jerry Buss purchased it. The Buss family has remained the majority owner of the team up to this day. In 2017, after the death of Jerry Buss, the team was divided among his six children. Jeanie Buss was named controlling owner, while Jim Buss and Johnny Buss took on executive roles. The other four siblings own a stake in the team.
In 2021, Jeanie Buss and her siblings agreed to a deal that would give billionaire entrepreneur Patrick Soon-Shiong control of the franchise. Soon-Shiong is an immigrant from South Africa who has made a fortune in the biotechnology industry. He has an estimated net worth of more than $10 billion. In the deal, the Buss family sold a majority stake in the Lakers to Soon-Shiong, who will become the controlling owner. However, the Buss family will remain involved in the franchise.
The deal was worth an estimated $2.4 billion, making it the most expensive purchase of an American sports franchise ever. Despite the heavy price tag, Soon-Shiong was happy to invest in the Lakers. He said he was attracted to the team’s “winning culture” and saw it as an opportunity to use his business acumen to ensure the team’s continued success. His goal is to make the Lakers a global brand and expand the team’s reach beyond just the Los Angeles market.
With the purchase of the Los Angeles Lakers, Patrick Soon-Shiong now owns one of the most iconic franchises in all of sports. The Lakers are among the most valuable teams in the NBA and have a rich history of success. Soon-Shiong hopes to continue the winning tradition of the Lakers while also taking the franchise to new heights.
[toggles][toggle title=”Who owns the Lakers now?”] The Lakers are currently owned by Jeanie Buss, owner and president of the Los Angeles Lakers. [/toggle][toggle title=”Who is the majority owner of the Lakers?”] Jeanie Buss is the majority owner of the Lakers. [/toggle][toggle title=”When did Jeanie Buss become the majority owner of the Lakers?”] Jeanie Buss became the majority owner of the Lakers in February 2013. [/toggle][toggle title=”Does Jeanie Buss own the whole Lakers organization?”] Yes, Jeanie Buss owns the whole Lakers organization. [/toggle][toggle title=”Are there any other owners of the Lakers?”] No, Jeanie Buss is the sole owner of the Lakers. [/toggle][toggle title=”Is Jeanie Buss the president and CEO of the Lakers?”] Yes, Jeanie Buss is both the president and CEO of the Lakers. [/toggle][toggle title=”What was Jeanie Buss’s role before becoming the majority owner of the Lakers?”] Jeanie Buss was the executive vice president of business operations for the Lakers before becoming the majority owner. [/toggle][toggle title=”How long has Jeanie Buss been the majority owner of the Lakers?”] Jeanie Buss has been the majority owner of the Lakers since 2013. [/toggle][toggle title=”Was former Lakers owner Jerry Buss related to Jeanie Buss?”] Yes, former Lakers owner Jerry Buss was the father of Jeanie Buss. [/toggle][toggle title=”Who is Jim Buss?”] Jim Buss is the brother of Jeanie Buss and former vice president of basketball operations for the Lakers. [/toggle][/toggles]
