Buss Sports Capital: A New Venture
In a significant move beyond their traditional ties to the Los Angeles Lakers, Joey and Jesse Buss are embarking on a new venture, Buss Sports Capital. This investment firm aims to explore acquisition and partnership opportunities within the global sports industry.
Background and Family Legacy
With Joey Buss serving as the Lakers’ alternate governor and vice president of research and development, and Jesse Buss holding the position of assistant general manager, both brothers have cultivated their expertise within the Lakers organization, which was founded by their father, Dr. Jerry Buss, in 1979. After Dr. Buss’s passing in 2013, the team was entrusted to his children.
Recent Developments
Recently, the Buss family reached an agreement to sell their controlling stake in the Lakers, with a franchise valuation set at $10 billion, to Mark Walter, who is also the owner of the Los Angeles Dodgers and the chairman of CWG Global. The NBA’s board of governors is anticipated to approve this sale in the near future, as reported by ESPN.
Future Plans
Despite this transition, Joey and Jesse will maintain their roles with the Lakers, while their sister, Jeanie Buss, will continue to occupy the position of primary team governor for the foreseeable future. “Our plan is to pursue strategic investments and forge strong partnerships, specifically in the realm of sports-related ventures,” said Joey Buss. “Buss Sports Capital will complement our ongoing commitments to the Lakers and the NBA, marking a crucial step towards the future landscape of sports. It’s thrilling to uncover growth possibilities where we can genuinely contribute value through our unique skills.”
Strategic Partnerships
To facilitate this new initiative, Buss Sports Capital has teamed up with CAA Evolution to oversee the transaction processes and has enlisted EM Securities as their banking partner. The brothers’ extensive experience in talent acquisition and development within the Lakers structures has positioned them well for this next chapter. Joey has previously held the role of president and CEO of the South Bay Lakers, the team’s G League affiliate, while Jesse has consistently contributed to the draft processes, acting as the Lakers’ director of scouting.
A Vision for the Future
In a nod to their family legacy, Jesse Buss expressed a hopeful vision for the future, stating, “I am excited about collaborating with my brother, Joey, for generations to come. This endeavor is something we hope will endure and be passed down to our children, which is what our dad would have wanted.”
