When Jerry Buss acquired the Los Angeles Lakers in 1979 for $67.5 million, the deal included the Lakers, the Kings, and the Forum in Inglewood.
What followed was the birth of “Showtime”, an era that transformed the Lakers into an entertainment dynasty, powered by Magic Johnson‘s electrifying play and driven by ten championships.
Upon Jerry‘s death in 2013, control passed to his six children. Jeanie emerged as the team’s governor and president, carrying forward the family legacy.
She made history as the first woman to lead an NBA championship team in 2020, and further strengthened the front office by hiring Rob Pelinka and Magic Johnson in 2017.
Now, nearly half a century later, the Buss family has agreed to sell their majority stake to Dodgers owner Mark Walter in a deal valued at around $10 billion. The sale, expected to close in the second half of 2025, is the largest in U.S. professional sports history.
Despite relinquishing majority control, Jeanie will remain the Lakers‘ governor, overseeing operations “daytoday for the foreseeable future”.
On Wednesday, June 25, both Buss and Walter issued their first public statements since the deal was announced. Jeanie expressed pride in the family’s stewardship:
“The Buss family is deeply honored to have looked after this incredible organization for almost half a century.”
She added she was confident in Walter‘s long-term vision and looked forward to collaborating to uphold the Lakers‘ tradition.
Mark Walter, already co-owner of the Dodgers since 2012, echoed her confidence:
“The Lakers have long been one of the most iconic franchises in sports.”
A new era for Lakers basketball operations
While the ownership shift highlights continuity in leadership thanks to Jeanie‘s presence, it has also reignited scrutiny around general manager Rob Pelinka.
Pelinka has overseen major moves, including the high-profile trade for Luka Doncic. But previous missteps, like the Russell Westbrook acquisition and letting Alex Caruso walk, remain fresh in fans’ minds.
Brian Kamenetzky, of Locked on Lakers, warned:
“If Rob Pelinka is not willing moving forward to be more of a collaborator with more people around him… he will not be long for this job.”
NBC Sports analyst Jovan Buha echoed the sentiment, describing Walter‘s arrival as a blank-slate moment: while Pelinka‘s position appears safe, given his championship pedigree, his authority could be reshaped, possibly with the addition of a president of basketball operations.
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