Jeannie Buss isn’t going anywhere with the Lakers, at least not for now.
Even after selling a majority stake to Mark Walter for a staggering $10 billion, Buss will continue to serve as governor of the team for the next five seasons. According to sources, this arrangement means she’ll maintain a significant presence through at least the 2029-30 season.
ESPN reports that the plan has received Walter’s full approval, indicating that Buss’s role with the team is secure for several more years.
This recent update sheds light on the timeline concerning the Buss family’s involvement since Jeannie’s father, Jerry, purchased the franchise in 1979.
Following Jerry’s passing in 2013, Jeannie and her five siblings inherited the majority stake, with Jeannie stepping into the governor position.
Walter, who also owns the Dodgers and serves as CEO of Guggenheim Partners, has made the largest investment in a U.S. sports team with this deal.
The finalization of this sale is expected to occur sometime between July and December.
“The Buss family takes great pride in having looked after this remarkable organization for nearly fifty years,” Jeannie remarked in a statement back in June. “From the moment my dad acquired the Lakers, our goal was to deliver what Los Angeles deserves.”
She added, “I’ve gotten to know Mark quite well, and I’m thrilled to find out that he shares our values. Over the past four years, he has proven to be an outstanding partner, and I’m eager to keep working together on the Lakers’ legacy.”
Buss will undoubtedly influence the direction of the franchise during her tenure.
On another note, LeBron James has decided to exercise his player options and is gearing up for a full season alongside Luka Doncic, aiming for a championship run.
