In 1979, Dr. Jerry Buss, a real estate developer in the Los Angeles area, purchased the Los Angeles Lakers, as well as The Forum, their home arena, and the NHL’s Los Angeles Kings for $67.5 million.
It started a golden era of prosperity for the Purple and Gold, as the franchise went from a perennial bridesmaid to the gold standard of the NBA. It won five world championships in the 1980s and five more in the first 11 years of the new millennium.
Before Dr. Buss passed away in 2013, he put together a succession plan where his adult children would inherit the Lakers. It led to his daughter, Jeanie Buss, becoming the new owner of the team.
Since the elder Buss’ death, the Lakers have missed the playoffs in all but two of the last nine seasons. Although they won yet another title in 2020, there has been a perception that overall, the franchise has been in serious decline.
ESPN’s Brian Windhorst believes the younger Buss and her siblings could decide to sell a stake in the team.
Via Lakers Daily:
“On his podcast “Brian Windhorst & The Hoop Collective” (h/t SB Nation), Windhorst indicated that criticism of the Buss family’s leadership of the Lakers and the expected sale of the Phoenix Suns may change the minds of Buss family members.
“‘I think it’s possible the Buss family could sell part of the Lakers at some point,’ Windhorst said. ‘You know they own two-thirds of the Lakers. I could see them selling part of the Lakers someday. … Let’s say (the Suns) sell for $3.5 (billion). What do you think the Lakers would be worth in that environment? I mean, $5 to $6 (billion). And to be honest with you, like if I were Jeanie Buss, I wouldn’t even accept a phone call to pitch me, even to buy a percentage of the team, for less than $6 billion.'”
The younger Buss has never given any indication that she would ever even consider selling the Lakers. But in recent years, more and more fans have been calling for her to give up ownership.
