Lakers’ Jeanie Buss says dad would have supported sale to Mark Walter

Jeanie Buss, owner of the six-time NBA champion Los Angeles Lakers, said new majority owner Mark Walter’s access to capital will help the team better compete with the NBA’s top franchises — and that her late father, Jerry Buss, would have supported the sale.

“The important thing for him is for the Lakers to stay at the top of the NBA, and to stay at the top of the NBA, you need to have the resources,” Buss said. “You have to get everyone to pull together. And he wants that [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. Team spending currently ranges from about $154 million to $220 million, and the Lakers rank seventh overall with $197 million, according to Basketball Reference. Walter has consistently been one of the biggest spenders in Major League Baseball since his acquisition by the Los Angeles Dodgers in 2012.

Boss and her family agreed to sell a majority stake in the team to Walter last year at a valuation of $10 billion. ESPN recently documented a major conflict between the Buss siblings that led to the sale, which Buss described as “bittersweet.”

Jerry Buss bequeathed ownership of the team to his six children in a trust when he died in 2013.

“My brothers were involved in the decision that was made,” Jenny Buss said. “It’s about the Lakers and the greatness of it and what the fans expect and you need resources and you need direction. I think it’s fair to say that my family — we all have our different opinions and [are] Living our lives, choosing what we want to do with our time, this was the best decision for all six of us.”

The Buss family retained about 15% of the team, and Jeanie Buss agreed to remain as governor for at least five years. However, when asked if she planned to stay the whole semester, Buss seemed to hedge her answer.

“This is what I agreed to,” Boss said. “Mark Walter and I are very comfortable with the way things are set up. I expect things to continue and be successful. And, you know, I’m not going anywhere.”

Buss admitted that the past 12 months have been a transitional period for the team, given the sale and the team’s decision to replace star forward Anthony Davis with Doncic about a year ago. Boss said the team’s focus now is around Luka Doncic, rather than 41-year-old LeBron James, who has been the face of the team since joining in 2018.

“The partnership will give us stability to continue moving forward as we build a team around Luka Doncic,” said Bosz. “We couldn’t be more proud to have him as a Laker. He’s a young star that fans love to see.”

James said Sunday he still isn’t sure if he’ll play beyond this season. Buss said she would leave James’ future with the Lakers up to James. However, she seemed skeptical about him returning to the team next season, either because he would retire or because he would choose to play elsewhere.

“Never say never, but you know, he certainly didn’t give any indication,” Boss said. “He’s earned the right to decide how his career will go, and as you know, he continues to impress.”

Boss also discussed her tequila brand, Cincoro, which was created in 2016 when five friendly competitors met for dinner around the NBA Board of Governors meetings and bonded over their shared passion for tequila. That group included Boss. then-Charlotte Hornets owner Jordan; Milwaukee Bucks co-owner Wes Eddins; and former Boston Celtics co-owner Wyke Groesbeck and his wife, Emilia Fazzalari.

“We all had a mutual appreciation for tequila,” Boss said. “Being a very competitive group, we thought: ‘You know what? Maybe we can make our team better.” “And so that night, Senkuro was born.”

Buss said Jordan, known as a fierce competitor on the court, is no different behind the scenes and is deeply involved in the business.

“I knew he was a strong competitor because in his first championship, he beat the Los Angeles Lakers,” she said. “He’s like that in the boardroom. He’s wondering: Who are we up against? Let’s be better than that. Let’s work harder. Let’s be more creative.”

Jordan brought in his own design team, resulting in a distinctive bottle that Boss describes as a “work of art.”

“When you work with Michael Jordan, the standards are high,” she said. “Not only him as a player, but as a businessman. We have seen that he has been very successful.”

Cincoro is now a sponsor of the Los Angeles Lakers, and on Tuesday Boss unveiled a limited-edition purple and gold añejo bottle from the Lakers. Buss said it’s a nod to the franchise’s championship lineage and the brand’s premium positioning.