For years, plenty of Los Angeles Lakers urged the Buss family to sell the franchise. The franchise had been owned by the family since 1979, when the late Dr. Jerry Buss bought it from Jake Kent Cooke, its previous owner, but after Dr. Buss died in 2013, it has seemingly lost plenty of its luster.
Under Dr. Buss, the Lakers won 10 NBA championships and missed the playoffs only twice. But in each of the six seasons following his passing, they failed to reach the postseason, and they also didn’t qualify for the play-in tournament in 2022. The team also lost in the first round of the playoffs in 2021, 2024 and 2025.
It seemed unlikely that his children, who assumed ownership after his passing, would sell the team anytime soon. But last week, they agreed to sell a majority stake of it to businessman Mark Walter, who has been the Los Angeles Dodgers’ primary owner since 2012.
According to Dan Woike, many, including some within the organization, are “shocked” that a sale has taken place so soon.
Via The Athletic:
“Let’s get right into the question I’ve been asked most since Jeanie Buss shockingly agreed to sell the Lakers at a $10 billion evaluation to Walter and his partners,” Woike wrote. “And to be clear, people are shocked, including sources inside the organization and inside the NBA, people who thought this day could eventually come but who didn’t think it would happen so quickly.”
Dr. Buss’ daughter Jeanie Buss has assumed the role of governor, and she will reportedly retain that title for a period of time despite the sale. The transaction is expected to be complete during the third or fourth quarter of this year.
The Dodgers have been one of the most successful, if not the most successful, teams in Major League Baseball since Walter took control of them. They have finished first in the National League West in 11 of the last 12 years and have won two of the last five World Series championships, and they have spared no expense when it comes to bringing in the best people.
Walter has been a minority owner of the Lakers since 2021.
This article originally appeared on LeBron Wire: Report: People inside Lakers franchise are ‘shocked’ at sale of team
Reporting by Robert Marvi, LeBron Wire / LeBron Wire
USA TODAY Network via Reuters Connect
