
Jeanie Buss Makes Notable Move by Selling the Lakers
Jeanie Buss has agreed to sell the majority of the Lakers to financier Mark Walter, marking a historic valuation for a sports franchise.
Jeanie Buss has long faced skepticism about her leadership capabilities. Being one of the few female majority owners in the NBA, her career has often been clouded by sexist stereotypes and suggestions of nepotism, particularly after the passing of her father, Jerry Buss, the former owner of the Los Angeles Lakers.
Despite the criticisms, Buss has demonstrated remarkable leadership by making tough decisions, prioritizing the team’s success, and ensuring that personal ties never interfered with her duties.
Recently, the Buss family reached an agreement to sell the Lakers to financier Mark Walter for an extraordinary price of approximately $10 billion, making it the largest sale of a professional sports entity in the U.S. This strategic move secures a financially sturdy future for the Lakers under the guidance of a well-respected owner.
Mark Walter is renowned for managing Guggenheim Partners, which holds over $325 billion in assets. He previously spearheaded a group that revitalized the Los Angeles Dodgers, turning them into a consistent playoff contender.
Furthermore, Buss plans to stay on as the Lakers’ governor as they transition ownership, reflecting her commitment to ensure the franchise’s stability.
Buss’s father bought the Lakers for just $67.5 million in 1979, making her sale a remarkable leap in value. Buss expressed in February, “Sometimes being underestimated actually gives you an advantage because you’re discounted and people let down their guard. I’m all about doing what’s best for my team and getting the job done.”
Her father’s legacy weighed heavily in her decisions, with every significant action filtered through a mindset of “Would it make him proud?”
As Buss continues to lead the team, her actions highlight a forward-thinking approach that will likely leave a lasting impact on the Lakers’ future.