Lakers’ Jeanie Buss says dad would have supported sale to Mark Walter
Six-time NBA Champion Los Angeles Lakers owner Jeanie Buss said new majority owner Mark Walter’s access to capital will help the team compete with the NBA’s best teams and that her late father, Jerry Buss, will also support the sale.
“What was important to him was that the Lakers stay at the top of the NBA, and to stay at the top of the NBA you have to have the resources,” Buss said. “Everybody needs to come together. He would too [that for] Lakers, because the Lakers are his legacy.”
While the NBA has a salary cap that can limit team spending, franchises have some flexibility if owners are willing to pay the luxury tax. The team’s expenses currently range from approximately $154 million to $220 million; The Lakers rank seventh with $197 million in total. accordingly Basketball Reference. Walter has consistently been one of the highest-spending owners in Major League Baseball since acquiring the Los Angeles Dodgers in 2012.
Los Angeles Lakers minority owner Jeanie Buss and her husband Jay Mohr before the first-round NBA basketball game between the Los Angeles Lakers and Minnesota Timberwolves at Crypto.com Arena in Los Angeles on Saturday, April 19, 2025.
Keith Birmingham | MediaNews Group | Pasadena Star-News | Getty Images
Buss and his family agreed to sell their majority stake in the team to Walter last year at a valuation of $10 billion. ESPN recently documented A significant conflict between the Buss siblings led to the sale, which Buss called “bittersweet.”
When Jerry Buss passed away in 2013, he left ownership of the team to his six children.
“My siblings were involved in the decision that was made,” Jeanie Buss said. “It’s about the Lakers and the greatness and the expectations of the fans. You need resources and direction. It’s fair to say, as my family, we all have different ideas and [are] “We live our lives, we choose what we want to do with our time, and it was the best decision for all six of us.”
The Buss family owned about 15% of the team, and Jeanie Buss agreed to stay on as governor for at least five years. Still, when asked if he planned to stay the entire semester, Buss seemingly held back.
“So I agreed to that,” Buss said. “Mark Walter and I are pretty happy with the way things are going. I expect things to continue and be successful. And, you know, I’m not going anywhere.”
Buss acknowledged that the last 12 months have been a transition period for the team, considering both the sale and the team’s decision to trade star forward Anthony Davis for Doncic nearly a year ago. Buss said the team’s focus is now centered around Luka Dončić rather than LeBron James, the 41-year-old who has been the face of the team since joining in 2018.
Luka Doncic at his introduction with Lakers Head Coach JJ Redick and General Manager Rob Pelinka.
Harry How | Getty Images Sports | Getty Images
“The partnership will give us the stability to continue moving forward as we build a team around Luka Dončić,” Buss said. “We couldn’t be more proud to have him as a Laker. He’s a young all-star that fans love to see.”
James said Sunday he’s still unsure if he’ll play beyond this season. Buss said he would leave James’ future in the Lakers to James. However, he appeared doubtful that he would return to the team next season as he would either retire or choose to play elsewhere.
“Never say never, but you know, he gave absolutely no indication,” Buss said. “He’s earned the right to decide how his career progresses and, you know, he continues to impress.”
Launch of a tequila brand
Buss also talked about Cincoro, the tequila brand he created in 2016. The five friendly competitors met for dinner around NBA board meetings and bonded over their shared passion for tequila. This group included Buss; Jordan, then owner of the Charlotte Hornets; Wes Edens, co-owner of the Milwaukee Bucks; and former Boston Celtics co-owner Wyc Grousbeck and his wife, Emilia Fazzalari.
Cincoro was founded in 2019 by NBA owners Michael Jordan of the Charlotte Hornets, Jeanie Buss of the Lakers, Wes Edens of the Bucks, and Emilia Fazzalari and Wyc Grousbeck of the Celtics.
Source: Cincoro Tequila
“We all had a mutual appreciation for tequila,” Buss said. “And because we’re such a competitive group, we thought: ‘You know what? We can probably do better.’ And so that night Cincoro was born.”
Buss said that Jordan, known as a fierce competitor on the field, was no different behind the scenes and was involved.
“I knew he was a tough opponent because he beat the Los Angeles Lakers in his first championship,” he said. “He acts the same way in the boardroom. ‘Who are we up against? Let’s be better than this. Let’s work harder. Let’s be more creative.’ “he thinks.”
Jordan brought in his design team, and the result was a distinctive bottle that Buss calls “a work of art.”
“The bar is set high when you work with Michael Jordan,” he said. “Not just as an actor, but also as a businessman. And we’ve seen him be quite successful.”
Cincoro is now a sponsor of the Los Angeles Lakers, and Buss unveiled a limited-edition bottle of the Lakers’ añejo in purple and gold on Tuesday. Buss said this is a nod to both the series’ championship history and the brand’s premium positioning.
