Los Angeles Lakers Owner: Who's In Charge?

The Los Angeles Lakers, a storied franchise in the National Basketball Association (NBA), have captivated fans for decades with their glamour, championships, and iconic players. But have you ever stopped to wonder, "Who exactly is calling the shots behind the scenes?" Understanding the ownership structure of a sports team provides insight into the direction, values, and overall culture of the organization. For the Lakers, a team synonymous with winning and excellence, the ownership is a fascinating story of legacy, business acumen, and a deep connection to the city of Los Angeles.

A Deep Dive into the Lakers' Ownership

So, who is the owner of the Los Angeles Lakers? Currently, the controlling owner of the Los Angeles Lakers is Jeanie Buss. But it's not as simple as saying one person owns the whole team. The Lakers' ownership structure is more intricate, involving a principal owner and a larger ownership group. To truly understand who's in charge, we need to delve into the history and evolution of the Lakers' ownership.

The Buss Family Legacy

The story of the Lakers' current ownership begins with Dr. Jerry Buss, a real estate investor who purchased the team in 1979. Dr. Buss transformed the Lakers into a global brand, ushering in the "Showtime" era with its exciting style of play and celebrity-filled courtside atmosphere. He was more than just an owner; he was a visionary who understood the entertainment value of basketball. Under his leadership, the Lakers won 10 NBA championships, solidifying their place as one of the league's premier franchises.

When Dr. Buss passed away in 2013, the ownership of the Lakers was passed on to his six children: Jeanie, Jim, Johnny, Joey, Jesse, and Janie. Each sibling received an equal share of the team. However, Dr. Buss had made it clear that he wanted Jeanie to be the controlling owner, entrusting her with the responsibility of leading the Lakers into the future. This decision was based on Jeanie's extensive experience within the organization, having worked in various roles for the Lakers for over three decades.

Jeanie Buss: Carrying the Torch

Jeanie Buss has been a prominent figure in the Lakers organization for many years, working her way up through the ranks. Before assuming the role of controlling owner, she served as the team's Executive Vice President of Business Operations, overseeing the Lakers' marketing, public relations, and overall business strategy. Her deep understanding of the Lakers' brand and her commitment to maintaining the team's winning tradition made her the natural choice to succeed her father.

Since taking over as controlling owner, Jeanie Buss has faced both challenges and triumphs. She navigated a period of rebuilding after several seasons of disappointing results, ultimately making key decisions that led to the Lakers' 17th NBA championship in 2020, led by LeBron James and Anthony Davis. Her leadership style is often described as collaborative and inclusive, valuing the input of her players, coaches, and front office staff. Jeanie is deeply committed to her father's vision of the Lakers as a family, both on and off the court. She prioritizes creating a positive and supportive environment where players can thrive and fans can feel connected to the team. She is not just a businesswoman, but a passionate caretaker of a Los Angeles institution.

The Broader Ownership Group

While Jeanie Buss is the controlling owner and face of the Lakers, it's important to remember that the team has a broader ownership structure. The Buss family continues to hold a significant stake in the team, with Jeanie's siblings remaining as owners. However, there are also other minority owners who have invested in the Lakers over the years. These individuals or groups bring additional capital and expertise to the organization.

Impact on Team Decisions

Jeanie Buss, as the controlling owner, has the final say on major decisions regarding the Lakers. This includes hiring and firing coaches and general managers, approving player trades and acquisitions, and setting the overall strategic direction of the team. While she values the input of her fellow owners and advisors, the ultimate responsibility for the Lakers' success or failure rests on her shoulders.

The ownership group's influence extends to the financial aspects of the team, including ticket prices, sponsorships, and marketing campaigns. They also play a role in shaping the Lakers' brand and image, ensuring that the team remains a valuable asset and a source of pride for the city of Los Angeles. The stability and unity within the ownership group are crucial for the long-term success of the Lakers.

Historical Lakers Owners

Before the Buss family, the Los Angeles Lakers had several different owners throughout their history. Understanding this historical context provides a richer appreciation for the Buss family's impact on the franchise.

From Minneapolis to Los Angeles

The Lakers were originally founded in 1947 in Minneapolis, Minnesota, as the Minneapolis Lakers. The team's first owner was Ben Berger, who purchased the team for $15,000. Under Berger's ownership, the Lakers quickly became a dominant force in the National Basketball League (NBL) and later the Basketball Association of America (BAA), which eventually merged with the NBL to form the NBA. The Minneapolis Lakers won five championships in their first six years, led by the legendary George Mikan.

In 1957, the Lakers were sold to Bob Short, who faced financial difficulties in Minneapolis. Short made the momentous decision to move the team to Los Angeles in 1960, marking the beginning of the Lakers' reign as a Hollywood institution. However, the Lakers struggled to replicate their Minneapolis success in their early years in Los Angeles.

Jack Kent Cooke Era

In 1965, Jack Kent Cooke, a Canadian businessman, purchased the Lakers. Cooke invested heavily in the team, building the Forum, a state-of-the-art arena that became the Lakers' home for over 30 years. Under Cooke's ownership, the Lakers won their first NBA championship in Los Angeles in 1972, led by Wilt Chamberlain and Jerry West. Cooke was known for his flamboyant personality and his commitment to providing a first-class experience for Lakers fans.

Cooke's tenure as owner ended in 1979 when he sold the Lakers to Dr. Jerry Buss, ushering in a new era of glamour, excitement, and championships. The sale price was a then-record $20 million, a testament to the Lakers' growing value and popularity.

The Owner's Role and Impact

The owner of a sports team is more than just a deep-pocketed investor. They play a vital role in shaping the team's culture, setting its strategic direction, and representing the organization to the public. The owner's decisions can have a profound impact on the team's success, both on and off the court.

Setting the Vision and Culture

The owner is responsible for setting the overall vision for the team. This includes defining the team's goals, values, and long-term strategy. The owner also plays a key role in shaping the team's culture, creating an environment that fosters teamwork, accountability, and a commitment to excellence. A strong and positive team culture can be a significant competitive advantage, attracting talented players and creating a winning atmosphere.

Financial Investments and Stability

The owner provides the financial resources necessary for the team to operate and compete at the highest level. This includes investing in player salaries, coaching staff, training facilities, and marketing initiatives. The owner's financial stability is crucial for the team's long-term success, ensuring that the team can weather economic downturns and continue to invest in its future.

Fan Engagement and Community Involvement

The owner is the face of the franchise, representing the team to the fans, the media, and the community. The owner's engagement with the fans can create a strong sense of connection and loyalty, boosting ticket sales and merchandise revenue. The owner also plays a role in the team's community involvement, supporting local charities and initiatives that benefit the city and its residents. A strong connection to the community can enhance the team's brand and create a positive image.

What Makes a Good NBA Owner?

Being a successful NBA owner requires a unique combination of business acumen, basketball knowledge, and leadership skills. A good owner understands the complexities of the sports industry, is passionate about the game, and is committed to creating a winning culture. Here are some key qualities that make a good NBA owner:

Passion for the Game

A genuine passion for basketball is essential for any NBA owner. This passion drives their commitment to the team and motivates them to make the necessary investments to achieve success. An owner who loves the game is more likely to be engaged with the team, the players, and the fans.

Business Acumen

Owning an NBA team is a significant financial investment, requiring strong business acumen. A good owner understands how to manage the team's finances, negotiate contracts, and maximize revenue streams. They also have a keen understanding of the sports industry and the factors that drive its growth.

Leadership Skills

An NBA owner must be a strong leader, capable of setting the team's vision, shaping its culture, and making difficult decisions. They must be able to inspire their players, coaches, and staff to work together towards a common goal. A good leader is also able to build strong relationships with other owners, the league office, and the media.

Commitment to the Community

A good NBA owner is committed to giving back to the community and using the team's platform to make a positive impact. They support local charities, promote youth sports, and advocate for social justice issues. A strong connection to the community enhances the team's brand and creates a sense of goodwill.

In conclusion, the Los Angeles Lakers are currently owned and controlled by Jeanie Buss, who inherited the team from her father, the legendary Dr. Jerry Buss. While the Buss family retains a significant ownership stake, Jeanie Buss is the driving force behind the Lakers' vision and strategy. Understanding the ownership structure of a sports team like the Lakers provides valuable insights into the team's culture, values, and overall direction. From their humble beginnings in Minneapolis to their current status as a global brand, the Lakers' ownership has played a crucial role in shaping the team's history and success.