BREAKING NEWS: The Buss brothers are making headlines with the launch of their new sports investment firm, Buss Sports Capital, just announced today. Joey Buss, vice president of research and development for the Los Angeles Lakers, and Jesse Buss, the team’s assistant general manager, are stepping beyond their roles within the iconic franchise to explore global sports acquisitions and partnerships.
This new venture comes as the Buss family prepares for a significant transition, having agreed to sell their controlling stake in the Lakers at an astounding $10 billion valuation to Mark Walter, owner of the Los Angeles Dodgers. The NBA’s board of governors is expected to ratify this sale in the coming months, marking a new chapter for the family business.
Both Joey and Jesse, who have dedicated their careers to the Lakers, will maintain their positions post-sale. Their sister, Jeanie Buss, will continue as the primary team governor. “Our vision is to really go after strategic investments and good partners — specifically sports-related investments,” Joey Buss stated in an interview with ESPN.
The brothers are enthusiastic about the future, emphasizing that Buss Sports Capital will not compete with their interests in the Lakers or the NBA. “This is our first step to where the future of sports is going to lead us. It is exciting to see what growth opportunities exist,” Joey added.
The firm has enlisted CAA Evolution to lead its transaction process, with EM Securities onboard as their banking partner. The Buss brothers have built their expertise through years of talent acquisition and development within the Lakers organization, including roles such as team president and CEO of the South Bay Lakers, the Lakers’ G League affiliate, and director of scouting.
Jesse Buss expressed his excitement, stating, “I look forward to working with my brother, Joey, for the next 50 years, and hopefully, this is something that can live through our children. That’s what our dad would have wanted.”
With an eye on the future of sports investment, the Buss brothers are poised to make a significant impact, not just in basketball, but across the entire sports landscape. Fans and investors alike are eager to see how Buss Sports Capital will evolve and the opportunities it will create in this dynamic industry.
Stay tuned for more updates as this story develops.