The Los Angeles Lakers, one of the NBA’s most storied franchises, has maintained consistent ownership for over four decades. The Buss family has controlled the team since 1979, establishing one of the longest-running family ownerships in professional sports.
The family’s tenure began when Dr. Jerry Buss purchased the Lakers, along with the NHL’s Los Angeles Kings, the Forum arena, and a ranch, from Jack Kent Cooke for $67.5 million – a transaction that was considered the largest sports deal in history at that time.
Legacy of Leadership
Under Buss family leadership, the Lakers have become one of the most successful and valuable franchises in sports. The team has won 11 NBA championships during their ownership period, adding to the five titles the organization had previously claimed.
Following Dr. Jerry Buss’s death in 2013, ownership transferred to his six children, with Jeanie Buss emerging as the controlling owner and team president. This transition marked a new chapter in the family’s stewardship of the franchise while maintaining the continuity that has defined the organization.
Business Impact and Team Value
The Buss family’s long-term ownership has provided stability that few professional sports teams enjoy. Under their guidance, the Lakers have grown from a $67.5 million purchase to a franchise valued at over $5 billion according to recent estimates.
This growth reflects both the expansion of the NBA as a global brand and the Lakers’ position as one of its flagship teams. The family has overseen the team through multiple eras, from the “Showtime” Lakers of the 1980s to the Kobe Bryant years and into the current LeBron James period.
Ownership Structure
The current ownership structure divides control among Jerry Buss’s children, with Jeanie Buss serving as controlling owner and team governor at NBA Board of Governors meetings. This arrangement has been in place since 2013, though it faced challenges when internal family disputes emerged regarding control of the organization.
These conflicts were resolved in 2017 when Jeanie Buss secured her position as the team’s controlling owner after a legal battle with her brothers Jim and Johnny Buss.
The family owns 66% of the franchise, with the remaining percentage held by minority investors, including Philip Anschutz, Edward P. Roski, and Patrick Soon-Shiong.
The Lakers represent one of the few remaining family-owned teams in a league increasingly dominated by corporate ownership groups and billionaire investors. This family connection to the team has been cited by many as contributing to the “Lakers family” culture that has attracted star players throughout the decades.
As the NBA continues to evolve as a global business, the Buss family’s ongoing control of the Lakers stands as a reminder of an earlier era in sports ownership, when individual families could purchase and maintain control of major sports franchises across generations.
