Buss’s 66% controlling ownership of the Lakers passed to his six children via a trust, with each child receiving an equal vote (11% for each child). His succession plan had daughter Jeanie assume his previous title as the Lakers’ governor as well as its team representative at NBA Board of Governors meetings.
When did Dr Buss buy the Lakers?
Buss acquired the Lakers from Jack Kent Cooke in 1979 in a complicated $67 million deal involving cash and land swaps that valued the team at $16 million, or $50 million today.
What years did Jerry Buss own the Lakers?
As the owner of the Los Angeles Lakers from 1979 until he passed away in 2013, Dr. Jerry Buss oversaw one of the greatest stretches in sports and entertainment history. His beloved Lakers made it to the Finals 16 times – nearly half of his 33 seasons – and won 10 championships while missing the playoffs only twice.
How much did Dr bus pay for the Lakers?
In 1979, just 20 years after his first investment, he sold nearly all of his assets and bought the Los Angeles Lakers (as well as the LA Kings and the LA Forum) for nearly 68 million dollars.
Does the Buss family own the Lakers? – Related Questions
Who owned Lakers before Buss?
Lakers Owners, GMs, and Coaches
| YEAR |
OWNER |
GENERAL MANAGER |
| 1979-1980 |
Dr. Jerry Buss |
Bill Sharman |
| 1978-1979 |
Jack Kent Cooke |
Bill Sharman |
| 1977-1978 |
Jack Kent Cooke |
Bill Sharman |
| 1976-1977 |
Jack Kent Cooke |
Bill Sharman |
Who owns LA Lakers now?
Los Angeles Lakers/Owners
How did Jerry Buss make his money before the Lakers?
“Real estate was his business,” Steiner said. “He knew that field very, very well.” At first, only the Forum was on the block. Buss certainly had enough Southern California property to offer, but Cooke threw him a curveball: The Canadian entrepreneur wanted the Chrysler Building in New York City.
How much did Jerry Buss pay for the Chrysler Building?
In the end, Cooke received the Chrysler Building and other properties. The Chrysler owners got Buss’ high-rises, which they sold to the buyers he had arranged. As for Buss, he obtained the Forum for $33.5 million, the Lakers for $16 million and the Kings for $8 million.
How much is the bus family worth?
In 2022, Jeanie Buss’ net worth is estimated to be $500 million, according to Celebrity Net Worth.
How did the bus family make their money?
Buss made his fortune in real estate, and it was his 20 years of experience in the field that helped start his new life as the owner of the Lakers, which would overshadow anything he’s ever done in his life.
How much is LA Lakers worth?
What does Magic Johnson own?
Johnson, since 2012, has been a part-owner of the Los Angeles Dodgers. His investment firm, Magic Johnson Enterprises, also owns several Burger King and Starbucks franchise locations. In 2010, Johnson sold his part ownership stake in the Lakers, initially purchased in 1994.