Does Jeanie Buss own 100% of the Lakers?

The Buss Family and the Lakers: A Shared Legacy, Not Sole Ownership

The Los Angeles Lakers, a franchise synonymous with basketball excellence, are often associated with the name Jeanie Buss. While her leadership as team governor is undeniable, the notion that she solely owns the Lakers is a misconception. The truth lies in a complex family inheritance and a shared ownership structure.

Following the passing of their father, Dr. Jerry Buss, the legendary owner who transformed the Lakers into a dynasty, Jeanie and her five siblings – Jim, Johnny, Janie, Joey, and Jesse – inherited a substantial stake in the team. This stake, amounting to 66% controlling interest, isn’t individually owned by any single sibling. Instead, it’s held within a trust structure designed to maintain family control and ensure the Lakers’ long-term stability.

This trust mechanism is crucial to understanding the Lakers’ ownership. Each of the six Buss siblings possesses an equal voting share within the trust. This means that Jeanie Buss, while a prominent figurehead and the governor, doesn’t hold veto power or sole decision-making authority. Significant decisions regarding the team’s future – from player acquisitions to major business ventures – require consensus or a majority vote among the siblings.

The remaining 34% of the Lakers ownership is held by various other entities and individuals, further diversifying the ownership structure. While the precise details of these minority shareholders are not always public knowledge, their presence underscores that the Lakers’ ownership is not solely concentrated in the hands of a single person.

In conclusion, while Jeanie Buss plays a pivotal role in the day-to-day operations and public face of the Los Angeles Lakers, she does not own 100% of the team. The Lakers’ ownership reflects a complex legacy, divided amongst the six Buss siblings via a trust arrangement that demands collaborative governance. This family-based ownership model, despite its inherent challenges, highlights a unique aspect of the Lakers’ history and ongoing success.