When Did the Buss Family Sell the Lakers? A Timeline of Ownership Changes

Hello, sports enthusiasts! Today, we're diving deep into the history of the Los Angeles Lakers, one of the most iconic basketball teams in the world. We're going to explore when the Buss family, who have been instrumental in shaping the Lakers' legacy, sold the team. So, grab a snack, get comfortable, and let's journey through time together! Guys, explore more in Guides And Explainers and when did the buss family sell the lakers.

The Buss Family's Lakers Dynasty

Before we talk about the sale, let's quickly recap how the Buss family came to own the Lakers. In 1979, Dr. Jerry Buss, a real estate entrepreneur, bought the team from Jack Kent Cook for $67.5 million. Dr. Buss, a basketball enthusiast, had a vision to turn the Lakers into a global brand. He hired legendary coach Pat Riley and signed Magic Johnson, Kareem Abdul-Jabbar, and James Worthy, leading to a decade of dominance in the 1980s.

Dr. Jerry Buss: The Lakers' Visionary

Dr. Buss was more than just an owner; he was a showman. He transformed the Lakers into a must-watch spectacle, introducing the "Showtime" era with its fast-paced, high-flying style of play. The Lakers became a symbol of Los Angeles, and Dr. Buss was at the helm, steering the team to 10 NBA championships during his ownership.

The Buss Family's Lakers Legacy

Dr. Buss passed away in 2013, leaving the Lakers to his six children. The siblings, led by Jeanie Buss, the team's governor, continued their father's legacy. They maintained the Lakers' commitment to winning and community involvement, keeping the team at the forefront of the NBA.

When Did the Buss Family Sell the Lakers?

Now, let's get to the heart of the matter. Did the Buss family ever sell the Lakers? The short answer is no, not entirely. Here's a breakdown of the ownership changes:

Jeanie Buss Becomes Controlling Owner

After Dr. Buss's death, his children inherited the team. However, in 2017, Jeanie Buss took over as the controlling owner, buying out her siblings' shares. This move solidified the Buss family's commitment to maintaining ownership of the Lakers.

Phil Anschutz's Partnership

In 2016, the Buss family formed a partnership with Phil Anschutz, a billionaire and owner of the Los Angeles Kings hockey team. Anschutz bought a minority stake in the Lakers, but the Buss family maintained majority control.

The Lakers' Future with the Buss Family

The Buss family's ownership of the Lakers remains strong, with Jeanie Buss at the helm. They've weathered challenges, including coaching changes and rebuilding the roster, always keeping their eyes on the prize: bringing another championship to Los Angeles.

So, there you have it, folks! The Buss family hasn't sold the Lakers. They're still very much a part of the team's ownership, committed to continuing the Lakers' legacy. We can't wait to see what the future holds for this iconic franchise!